* Third-qtr revenue $286.2 mln vs est. $310.7 mln
* Expects fourth-qtr charge of up to $14 mln from stake sale
* Shares fall 21 pct after the bell
(Adds details, shares)
April 29 Online designing and printing services
company Vistaprint NV reported a much
lower-than-expected quarterly revenue, hurt by fewer customer
additions as it shifts from offering deep discounts.
Vistaprint's shares fell as much as 21 percent in extended
The company, which offers designs for business cards,
letterheads, banners and blogs, said in a statement that it had
moved away from the practise of offering deep discounts and
Vistaprint said it was now also targeting micro-business
customers, who seek better products and services and are less
price sensitive than its traditional customers.
The company said it expected to take a charge of up to $14
million in the fourth quarter ending June 30 related to the sale
of its stake in its Chinese joint venture, Namex Ltd.
Vistaprint forecast adjusted earnings of $2.70-$2.85 per
share and revenue of $1.25 billion to $1.27 billion for the year
ending June 30.
The company estimated capital expenditure of $70 million to
$80 million for its fiscal year, including investments in new
Vistaprint's net income more than halved to $1.4 million, or
4 cents per share, in the third quarter ended March 31 from $5.9
million, or 17 cents per share, a year earlier.
Excluding items, the company earned 24 cents per share.
Revenue was virtually flat at $286.2 million, far short of
the $310.7 million analysts on average had expected, according
to Thomson Reuters I/B/E/S.
Vistaprint said revenue growth slowed in the United States,
its biggest market.
The company's shares closed at $53.42 on the Nasdaq on
(Reporting by Sampad Patnaik in Bangalore; Editing by Savio
D'Souza and Kirti Pandey)