Jeffrey T. Housenbold, CEO of Shutterfly Inc. (NASDAQ: SFLY), this week, bought 20,000 shares of SFLY common stock of $26.37 per share for a total investment of $527,400.
This is the second time in the past twelve months, Housenbold has bought SFLY shares. Earlier, he had bought 10,000 shares at $38.25 per share.
SFLY shares had risen sharply in Wednesday’s trading session. The stock ended the day 5.20% higher at $28.30 on above average volume of 1.74 million. Year-to-date, SFLY shares have gained 24.34%.
Recently, Shutterfly released its financial results for the first quarter ended March 31, 2012. SFLY’s net revenue for the first quarter of 2012 was $91.3 million, representing an increase of 60% over the same period in the previous year.
SFLY’s Personalized Products & Services net revenue for the quarter rose 72% on a year-over-year basis to $70.2 million. Personalized Products & Services revenue accounted for 77% of the company’s total first-quarter revenue. SFLY’s net revenue from prints totaled $14.9 million in the first quarter. Commercial Print net revenue rose an impressive 171% to $6.2 million.
Shutterfly’s gross profit margin for the quarter was 45%, down from 48% reported in the first quarter of 2011. The company reported GAAP net loss of $10 million, compared with $7.8 million reported for the same period in the previous year.
CEO Housenbold said that the first quarter was a solid start to the year for SFLY with strength across all three of its business categories. Housenbold said that capitalizing on scale and profitability, SFLY enhanced its product and service offerings, launched Treat and was successful in negotiating the transfer of Kodak Gallery’s customer accounts and data to SFLY. He added that SFLY’s commitment to innovation, design-forward products and services, customer-friendly policies and industry-leading quality continues to resonate well with the company’s existing and new customers.
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