2 August 2017
Vistaprint reports $34 million loss
NETHERLANDS—
 
 Cimpress the public company of Vistaprint reported a $34.7 million loss in its fourth quarter and fiscal year ending June 30th. The loss has been attributed to pressure on gross profits from shipping, expansion of product lines and unfavorable currency fluctuations. Also acqusition related charges , the termination of two partner contracts added to the losses and restructuring charges related to the reorganization of the company.Robert Keane CEO believes that the companies fresh strategy will improve its future prospects.
Vistaprint's Windsor Ontario plant
Vistaprint's Windsor Ontario plant
Revenue for Cimpress fourth quarter were $564 million an increase of 18% compared to last year. Gross margins were 50.5 % down from 53.7 % for the same quarter last year. Net loss was 6.2 % of revenue compared to net income of $16.9 million or 3.5 % of sales for the same quarter last year. Capital expenditure for the fourth quarter was $17 million.
   It bought National Pen last year for $218 million.. According to Graphic Monthly Vistaprint is the second largest printer in Canada with about $750 million in sales. They run a plant in Windsor Ontario which produces for all of North America.
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