Key Developments: Shutterfly Inc (SFLY.O)
47.69USD
23 May 2013
$-0.86 (-1.77%)
$48.55
$48.07
$48.07
$47.03
958,166
742,126
$49.52
$23.62
Latest Key Developments (Source: Significant Developments)
Shutterfly Inc Prices Offering Of $270 Million Convertible Senior Notes
Shutterfly Inc announced that it has priced $270 million aggregate principal amount of 0.25% convertible senior notes due 2018 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act). In connection with the offering of the notes, the Company has granted the initial purchasers a 30-day option to purchase up to an additional $30 million aggregate principal amount of such notes. When issued, the notes will be unsecured senior obligations of the Company. preceding the maturity date. The Company estimates that the net proceeds from the offering will be approximately $262.3 million after deducting the initial purchasers` discounts and commissions and the estimated offering expenses payable by it. The Company intends to use a portion of the net proceeds from the offering of the notes to fund acquisitions and other strategic transactions. The Company also intends to use approximately $18.0 million of the net proceeds from the offering of the notes to pay the cost of certain convertible note hedge transactions (described below), taking into account the proceeds to the Company of certain warrant transactions (described below) and to repurchase up to $30 million of shares of the Company`s common stock in privately negotiated transactions, which could affect the market price of the Company`s common stock concurrently with, or shortly after, the pricing of the notes. Full Article
Shutterfly Inc Announces Proposed Offering Of $220 Million Convertible Senior Notes
Shutterfly Inc announced that it intends to offer, subject to market conditions and other factors, $220 million aggregate principal amount of convertible senior notes due 2018 in a private offering to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended (the Securities Act). In connection with the offering of the notes, the Company expects to grant the initial purchasers a 30-day option to purchase up to an additional $30 million aggregate principal amount of such notes. The Company intends to use a portion of the net proceeds from the offering of the notes to fund acquisitions and other strategic transactions. The Company also intends to use a portion of the net proceeds from the offering of the notes to pay the cost of certain convertible note hedge transactions (described below), taking into account the proceeds to the Company of certain warrant transactions (described below) and to repurchase up to $30 million of shares of the Company`s common stock in privately negotiated transactions, which could affect the market price of the Company`s common stock concurrently with, or shortly after, the pricing of the notes, and could result in a higher effective conversion price for the notes. The Company expects to use the remainder of the net proceeds from the offering of the notes for general corporate purposes. Full Article
Shutterfly Inc Issues Q2 2013 Guidance; Earnings Guidance Below Analysts' Estimates; Raises FY 2013 Guidance
Shutterfly Inc announced that for the second quarter of 2013, it expects net revenues to range from $118.0 million to $121.2 million, GAAP operating loss to range from ($35.3) million to ($36.8) million, non-GAAP operating loss to range from ($12.0) million to ($13.5) million, adjusted EBITDA to range from ($1.5) million to ($3.0) million, and GAAP net loss per share to range from ($0.55) to ($0.58). For fiscal 2013, it expects net revenues to range from $766.0 million to $771.0 million, GAAP operating income to range from $12.7 million to $18.9 million, Non-GAAP operating income to range from $96.5 million to $104.6 million, GAAP net income per share to range from $0.20 to $0.30 per share and adjusted EBITDA to range from $137.7 million to $146.8 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $119.2 million, EBIT of ($23.4) and EBITDA of $2.8 million for the second quarter of 2013; revenues of $745.9 million, EBIT of $34.8 million, EBITDA of $139.6 million and EPS of $0.49 for fiscal 2013. Full Article
Novestra AB Divests Entire Stake in MyPublisher to Shutterfly Inc-SIX
SIX reported that Novestra AB has sold its 25% stake in MyPublisher for SEK 61.6 million to Shutterfly Inc. Shutterfly has acquired all shares in MyPublisher. Full Article
Novestra AB Divests Entire Stake in MyPublisher to Shutterfly Inc-SIX
SIX reported that Novestra AB has sold its 25% stake in MyPublisher for SEK 61.6 million to Shutterfly Inc. Shutterfly has acquired all shares in MyPublisher. Full Article
Shutterfly Inc Issues Q1 2013 Guidance; EBITDA Guidance Below Analysts' Estimates; Issues FY 2013 Revenue Guidance Above Analysts' Estimates-Conference Call
Shutterfly Inc announced that for the first quarter of 2013, it expects net revenues to range from $107.2 million to $110 million, GAAP operating loss to range from $26.8 million to $27.8 million, non-GAAP operating loss to range from ($9.4) million to ($10.4) million and adjusted EBITDA to range between a loss of $2.5 million to a loss of $3.5 million, and GAAP net loss per share to range from a loss of $0.39 to a loss of $0.42 per share based on approximately 36.8 million weighted average common shares. For fiscal 2013, it expects net revenues to range from $739.7 million to $746 million, GAAP operating income to range from approximately $25 million to $35 million, non-GAAP operating income to range from $91.7 million to $101.7 million and GAAP net income per share to range from $0.38 to $0.51 per share based on 38.4 million weighted average diluted shares and adjusted EBITDA to range from $133.1 million to $141.7 million. According to I/B/E/S Estimates, analysts are expecting the Company to report revenue of $108.7 million and EBITDA of $1.6 million for the first quarter of 2013; revenues of $707.8 million for fiscal 2013. Full Article
Shutterfly Inc To Acquires ThisLife
Shutterfly Inc announced that it has acquired ThisLife, a cloud-based solution offering intuitive photo and video organization, storing and sharing. Financial terms of the transaction were not disclosed. Full Article
Shutterfly Inc To License Kodak Imaging Patents
Shutterfly Inc announced that it has entered into an agreement to license 1,100 Kodak imaging patents, as well as other patents that Kodak is keeping as part of its on-going business. This proposed agreement also dismisses current patent-related litigation between Shutterfly and Kodak. Full Article
Shutterfly Inc Announces Share Repurchase Program
Shutterfly Inc announced that its Board of Directors has authorized and its Audit Committee has approved a share repurchase program granting the Company authority to repurchase up to $60 million of outstanding Shutterfly common stock. The Company intends to finance the share repurchases with cash on hand. The repurchase program authorizes Shutterfly to buy its common stock from time to time through open market, privately negotiated or other transactions, including pursuant to trading plans established in accordance with Rules 10b5-1 and 10b-18 of the Securities Exchange Act of 1934, as amended, or by a combination of such methods. The share repurchase program is subject to prevailing market conditions and other considerations; does not require the Company to repurchase any dollar amount or number of shares; and may be suspended or discontinued at any time. Full Article
Shutterfly Inc Issues Q4 2012 Guidance; Raises FY 2012 Guidance
Shutterfly Inc announced that for the fourth quarter of 2012, it expects net revenues to range from $300.0 million to $310.0 million, GAAP operating income to range from $71.6 million to $78.1 million, Non-GAAP operating income to range from $87.7 million to $94.2 million, GAAP net income per diluted share to range from $0.94 to $1.02 and Adjusted EBITDA to range from $96.5 million to $103.0 million. For fiscal 2012, it expects net revenues to range from $589.0 million to $599.0 million, GAAP operating income to range from $11.0 million to $17.6 million, Non-GAAP operating income to range from $69.5 million to $76.1 million, GAAP net income per diluted share to range from $0.14 to $0.24 and adjusted EBITDA to range from $97.5 million to $104.0 million. Full Article
Shutterfly revenue beats estimates on photo print sales
- Shutterfly Inc , an online photo-sharing service, reported better-than-expected quarterly revenue helped by rising demand for photo printing, and it forecast current-quarter revenue largely above analysts' expectations.
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