Cimpress announces lower second-quarter results

Vistaprint parent Cimpress plc reported lower second-quarter fiscal 2021 results. Total revenues in the fiscal second quarter were $786.1 million compared with $820.3 million in the year-ago quarter. For six months, revenues were $1.37 billion in 2020, compared to $1.45 billion in 2019. Second-quarter net income was $33,901, compared to $190,649  last year. For six months, net income was $23,823 in 2020 and $210,500 in 2019.

“Although our revenue is down because of the pandemic we believe that our traditional competitors, who still constitute the majority of the market, have experienced a greater revenue drop as many customers migrate from offline to online where Cimpress is the clear leader,” said Robert S. Keane, founder, chair, and CEO.  “We believe most of these customers will stay online post-pandemic, which would mean that we have been taking market share.

Vistaprint, the company’s largest revenue-generating segment, reported aggregate revenues of $436.3 million, up from $433.3 million in the year-ago quarter.

The Upload and Print segment’s revenues fell to $197.5 million from $214.1 million in the year-ago quarter. The segment consists of two subgroups —  PrintBrothers and The Print Group. PrintBrothers’ revenues fell to $121.8 million from $126.6 million in the prior-year quarter. The Print Group generated revenues of $76.2 million, down from $87.7 million.