Vistaprint N.V. announced unaudited consolidated financial results for the second quarter and six months ended December 31, 2013. Revenue for the second quarter of fiscal year 2014 grew to $370.8 million, a 6% increase over revenue of $348.3 million reported in the same quarter a year ago. Excluding the estimated impact from currency exchange rate fluctuations, total revenue grew 6% year over year in the second quarter. Operating income in the second quarter was $52.5 million, or 14.2% of revenue, and reflected a 59% increase compared to operating income of $33.0 million, or 9.5% of revenue, in the same quarter a year ago. GAAP net income for the second quarter was $40.9 million, or 11.0% of revenue, representing a 78% increase compared to $23.0 million, or 6.6% of revenue in the same quarter a year ago. GAAP net income per diluted share for the second quarter was $1.18, versus $0.66 in the same quarter a year ago. Non-GAAP adjusted net income for the second quarter, which excludes amortization expense for acquisition-related intangible assets, tax charges related to the alignment of acquisition-related intellectual property with global operations, unrealized currency gains and losses on currency hedges and intercompany financing arrangements included in net income, and share-based compensation expense and its related tax effect, was $52.7 million, or 14.2% of revenue, representing a 47% increase compared to non-GAAP adjusted net income of $35.9 million, or 10.3% of revenue, in the same quarter a year ago. Non-GAAP adjusted net income per diluted share for the second quarter was $1.50, versus $1.02 in the same quarter a year ago. Income before income taxes and loss in equity interests was $47,747,000 against $31,467,000 for the same period of last year. Net cash provided by operating activities was $95,027,000 against $88,533,000 for the same period of last year. Purchases of property, plant and equipment was $24,592,000 against $27,609,000 for the same period of last year.

For the year, revenue was $645,896,000 against $599,728,000 for the same period of last year. Income from operations was $60,931,000 against $33,275,000 for the same period of last year. Income before income taxes and loss in equity interests was $49,753,000 against $30,030,000 for the same period of last year. Net income was $41,287,000 against $21,264,000 for the same period of last year. Diluted net income per share was $1.20 against $0.61 for the same period of last year. Net cash provided by operating activities was $94,904,000 against $95,183,000 for the same period of last year. Purchases of property, plant and equipment was $42,169,000 against $55,368,000 for the same period of last year. Non-GAAP adjusted net income was $68,769,000 against $44,834,000 for the same period of last year. Non-GAAP adjusted net income per diluted share was $1.96 against $1.26 for the same period of last year.

As previously stated, beginning with fiscal year 2014, the company is providing revenue and earnings guidance on an annual basis. Based on current and anticipated levels of demand, for the full fiscal year ending June 30, 2014, the company expects revenue of approximately $1,235 million to $1,265 million, or 6% to 8% growth year over year in reported terms and on a constant-currency basis. Constant-currency growth expectations assume a recent 30-day currency exchange rate for all currencies. For the full fiscal year ending June 30, 2014, the company expects GAAP net income per diluted share of approximately $1.55 to $1.80, which assumes 34.5 million weighted average diluted shares outstanding. For the full fiscal year ending June 30, 2014, the company expects non-GAAP adjusted net income per diluted share of approximately $2.68 to $2.93, which excludes expected acquisition-related amortization of intangible assets of approximately $8.9 million or approximately $0.25 per diluted share, share-based compensation expense and its related tax effect of approximately $28.4 million or approximately $0.81 per diluted share, tax charges related to the alignment of acquisition-related intellectual property with global operations of approximately $2.3 million, or $0.07 per diluted share. For the full fiscal year ending June 30, 2014, the company expects to make capital expenditures of approximately $80 million to $90 million. Planned capital investments are designed to support the planned growth of the business and will include various investments in new manufacturing capabilities.