Vistaprint 2011 Annual Report Download - page 47

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as well as the mix of tenured customers versus new customers within the unique active
customer count, as tenured customers tend to purchase more than new customers. Average
bookings per unique active customer have grown over a multi-year period, though they do
sometimes fluctuate from one quarter to the next depending upon the type of products
promoted during a period and promotional discounts offered. For example, among other
things, seasonal product offerings, such as holiday cards, can cause changes in bookings
per customer in our second fiscal quarter ended December 31.
Total revenue for the fiscal year ended June 30, 2011 increased 22% to $817.0 million
compared to the fiscal year ended June 30, 2010, due to increases in sales across our product and
service offerings, as well as across all geographies. The overall growth during this period was driven
by increases in the number of unique active customers, which grew by 19% to approximately
11.4 million. This was influenced by growth in new customer additions, which grew 16% to
approximately 7.4 million, as well as growth in the number of retained customers, which grew 25% to
approximately 4.0 million. Additionally, average bookings per unique active customer for the year grew
by 3% to approximately $72. The weaker U.S. dollar positively impacted our revenue growth by an
estimated 40 basis points in the fiscal year ended June 30, 2011, as compared to the fiscal year
ended June 30, 2010.
Revenue increased 30% to $670.0 million, from fiscal 2009 to fiscal 2010, primarily due to
increases in sales across our product and service offerings, as well as across geographies. The
overall growth during this period was driven by increases in unique active customers, which grew by
20% to approximately 9.6 million. This was influenced by growth in new customer additions, which
grew 14% to approximately 6.4 million, as well as growth in the number of retained customers, which
grew 33% to approximately 3.2 million. Additionally, average bookings per unique active customer
grew by 11% to approximately $70, which was in part due to the expansion of our product offering.
The weaker U.S. dollar positively impacted our revenue growth rate by an estimated 230 basis points
over the same period.
Total revenue by geographic segment for the fiscal year ended June 30, 2011, 2010 and 2009
are shown in the following tables:
In thousands
2011 2010
%
Change
Currency
Impact:
(Favorable)/
Unfavorable
Constant-
Currency
Revenue
Growth (1)
Year Ended June 30,
North America (2) . . . . . . . . . . . . $ 452,770 $ 384,034 18% —% 18%
Europe . . . . . . . . . . . . . . . . . . . . 321,716 258,534 24% 2% 26%
Asia Pacific . . . . . . . . . . . . . . . . . 42,523 27,467 55% (16)% 39%
Total revenue. . . . . . . . . . . . . . . . $ 817,009 $ 670,035 22% —% 22%
2010 2009
%
Change
Currency
Impact:
(Favorable)/
Unfavorable
Constant-
Currency
Revenue
Growth (1)
Year Ended June 30,
North America (2) . . . . . . . . . . . . $ 384,034 $ 319,954 20% —% 20%
Europe . . . . . . . . . . . . . . . . . . . . 258,534 180,714 43% (3)% 40%
Asia Pacific . . . . . . . . . . . . . . . . . 27,467 15,158 81% (29)% 52%
Total revenue. . . . . . . . . . . . . . . . $ 670,035 $ 515,826 30% (2)% 28%
(1) Constant-currency revenue growth, a non-GAAP financial measure, represents the change in total revenue between
current and prior year periods at constant-currency exchange rates by translating all non-U.S. dollar denominated
revenue generated in the current period using the prior year period’s average exchange rate for each currency to the
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