Vistaprint (VPRT) shares are trading sharply lower after the company reported weak results for its fiscal fourth quarter ended June 30.
For the quarter, the producer of promotional marketing goods for small businesses reported revenue of $164.3 million, shy of the Street at $168.8 million; non-GAAP profits of 38 cents a share beat the Street by a penny.
For FY Q1, the company sees revenue of $159 million to $164 million, with non-GAAP profits of 27-32 cents a share; the old Street forecast was for $173 million and 46 cents. Ouch!
For the June 2011 fiscal year, VPRT is forecasting revenue of $750 million to $780 million, and non-GAAP profits of $2.09 to $2.24 a share, falling short of the Street at $802.6 million and $2.36 a share.
VPRT said it expects currency issues to negatively impact FY 2011 results.
In late trading, VPRT is down a whopping $13.16, or 26.2%, to $37.10.
No comments:
Post a Comment