Shutterfly (SFLY) Paints Itself Out Of the Picture

Investing

Published: October 30, 2007 3:10 pm

Shutterfly (SFLY) announced that its total revenues were $32.6 million, an increase of 54% over the third quarter 2006. The online photo site had a GAAP net loss per share was ($0.14), as compared to a net loss per share of ($0.70) for the third quarter 2006.

Transacting customers for the quarter totaled 844,000 – a 35% increase over the third quarter 2006.

The company’s forecast for Q4 was revenues within the range of $90.5 million to $93.5 million, an increase of 38% to 42% as compared to the fourth quarter of 2006. For the full year revenues will be within the range of $180 million to $183 million, an increase of 46% to 48% as compared to the full year 2006

Analysts had been looking for Q3 revenue of $31 million and EPS of ($.16) and revenue for Q4 of $93 million with EPS of $.67.

The earnings gods were angry with the foecast and sent the shares down 9% after hours to $33.

Douglas A. McIntyre

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