Vistaprint 2010 Annual Report Download - page 7

Form 10-K
PART I
Item 1. Business
This Annual Report on Form 10-K and the documents that we incorporate by reference in this
report contain “forward-looking statements” within the meaning of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties and are
based on the beliefs and assumptions of our management and information currently available to our
management. Use of words such as “believes,” “expects,” “anticipates,” “intends,” “plans,” “estimates,”
“goal,” “should,” “likely” or similar expressions, indicate a forward-looking statement. While we may
elect to update these forward-looking statements, we specifically disclaim any obligation to do so,
even if our expectations change. Important factors that could cause actual results to differ materially
from the forward-looking statements include, but are not limited to, those set forth under the heading
“Risk Factors.”
Overview
We are a leading online provider of coordinated portfolios of customized marketing products
and services to micro businesses worldwide. We offer a broad spectrum of complementary products
and services ranging from printed business cards, brochures and post cards to apparel, invitations
and announcements, holiday cards, calendars, creative design services, copywriting services, direct
mail services, promotional gifts, signage, website design and hosting services and email marketing
services. While we focus primarily on micro business marketing products and services, consumers
also purchase many of our products, such as invitations and announcements, greeting cards, and
calendars.
We offer compelling value to our customers through innovative technology, a broad selection of
customized products and services, low pricing and personalized customer service. While we offer a
broad selection of designs and formats, we seek to reduce manufacturing complexity and costs by
using limited characteristics that can be reconfigured and combined. This reduces our costs versus
comparable marketing products and services produced using traditional methods. This approach has
allowed us to successfully penetrate the large, fragmented and geographically dispersed micro
business and consumer markets.
We have standardized, automated and integrated the design and production process, from
design conceptualization to product shipment and service delivery. Customers can use our proprietary
design software to easily create and order full-color, personalized, professional-looking marketing
products and services, without any prior design training or experience. Customers have access to
over 70,000 graphic designs, design templates, photographs and illustrations as well as logo design
services and content suggestions. We are also able to automatically match and adapt graphic content
from one product format to another, which allows us to generate and display complementary products
and services.
Our proprietary Internet-based order processing systems receive and store tens of thousands
of individual orders on a daily basis and, using complex algorithms, organize these orders for efficient
production and delivery to our customers. Through our production technologies and highly automated
manufacturing facilities, we are able to significantly reduce the costs and inefficiencies associated with
traditional production and can provide customized finished products in as little as three days from
design to delivery. During the fiscal year ended June 30, 2010, our customers placed an average of
approximately 52,000 customized orders per day.
Our total revenues have grown from $6.1 million for the fiscal year ended June 30, 2001 to
$670.0 million for the fiscal year ended June 30, 2010. All of our revenue growth has been organic.
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