Vistaprint 2007 Annual Report Download - page 44

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PART II
Item 5. Market For Registrant’s Common Equity, Related Stockholder Matters and Issuer
Purchases of Equity Securities
Our common shares began trading under the symbol “VPRT” on the NASDAQ Global Market on
September 30, 2005. The following table sets forth, for the periods indicated, the high and low sale
price per share of our common shares on The NASDAQ Global Market:
High Low
Fiscal 2006:
First Quarter (September 30, 2005 only)......................................... $15.71 $12.01
Second Quarter ............................................................... $22.83 $14.00
Third Quarter ................................................................. $37.75 $22.36
Fourth Quarter ................................................................ $36.45 $25.80
Fiscal 2007:
First Quarter .................................................................. $27.09 $20.62
Second Quarter ............................................................... $36.94 $24.56
Third Quarter ................................................................. $43.30 $32.55
Fourth Quarter ................................................................ $41.51 $35.31
Fiscal 2008:
First Quarter (through August 24, 2007) ......................................... $42.45 $29.60
As of August 24, 2007, there were 60 holders of record of our common shares.
We have never paid or declared any cash dividends on our common shares and do not anticipate
paying any cash dividends in the foreseeable future. We currently intend to retain all future earnings, if
any, for use in the operation of our business. We did not sell any equity securities that were not
registered under the Securities Act of 1933 in the fourth quarter of fiscal 2007. We did not repurchase
any equity securities in fiscal 2007.
In our initial public offering, we sold 5,500,000 common shares and certain of our shareholders
sold an aggregate of 6,018,320 common shares, at an initial public offering price of $12.00 per share.
We received net proceeds of approximately $61.4 million (after underwriters’ discounts of $4.6 million).
We incurred additional, related expenses of approximately $1.6 million, resulting in proceeds, after
expenses, to us of approximately $59.8 million. As of August 28, 2007, we had not utilized any of the
net proceeds from the offering. We may use the net proceeds to fund construction and expansion of
our printing facilities and other operations, possible acquisitions and investments, and working capital,
capital expenditures and other general corporate purposes. Pending these uses, we have invested the
funds in asset-backed, short-term investment grade and government securities.
Item 6. Selected Consolidated Financial Data
The selected consolidated financial data set forth below as of June 30, 2007 and 2006, and for
the years ended June 30, 2007, 2006 and 2005 are derived from our audited financial statements and
included elsewhere in this Annual Report on Form 10-K. The selected consolidated financial data as of
June 30, 2005, 2004 and 2003 and for the years ended June 30, 2004 and 2003 are derived from our
audited financial statements not included in this Annual Report on Form 10-K.
The following selected consolidated financial data should be read in conjunction with our
consolidated financial statements, the related notes and “Item 7. Management’s Discussion and
Analysis of Financial Condition and Results of Operations” included elsewhere in this Annual Report on
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