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    Shutterfly 4Q net income rises on revenue jump

    Associated Press – Wed, Feb 1, 2012

    REDWOOD CITY, Calif. (AP) — Shutterfly Inc. said Wednesday that its fourth-quarter net income rose as revenue jumped nearly 59 percent. The results for the online photo publishing service beat analyst expectations, but its stock plummeted after hours.

    For October to December, Shutterfly said its net income totaled $35.4 million, or 97 cents a share, compared with net income of $32.5 million, or $1.09 per share, a year earlier.

    Revenue rose to $263.8 million from $166.2 million.

    Analysts surveyed by FactSet had forecast earnings of 84 cents a share on revenue of $262 million.

    For the year, the Redwood City, Calif., company had net income of $14 million, or 40 cents a share, compared with $17.1 million, or 59 cents a share, in 2010. Revenue increased to $473.3 million from $307.7 million.

    Shutterfly expects a first-quarter net loss of 31 cents to 43 cents a share. Analysts expect a net loss of 31 cents a share. Net revenue was forecast between $83 million and $85 million. Analysts have estimated revenue of $91.1 million.

    For the year, Shutterfly predicted net income between 25 cents a share and 28 cents a share, with revenue ranging between $550 million to $560 million. Analysts have predicted 2012 net income of 56 cents a share on revenue of $584.7 million.

    The company released its results after the market closed. Its shares rose $1.39, or 5.9 percent, to end at $25.12 but sank $2.87, or 11.4 percent, in after-hours trading.

     

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