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30
Item 6. Selected Financial Data
The following 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 Report. The historical results are not necessarily indicative of the results to
be expected for any future period.
Year Ended June 30,
2015 (a) 2014 (b)(c) 2013 (c) 2012 (d) 2011
(In thousands, except share and per share data)
Consolidated Statements of Operations Data:
Revenue . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,494,206 $ 1,270,236 $ 1,167,478 $1,020,269 $817,009
Net income attributable to Cimpress N.V.. . . . . . . . . . . . . . . 92,212 43,696 29,435 43,994 82,109
Net income per share attributable to Cimpress N.V.:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.82 $1.33$0.89 $1.16 $1.89
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $2.73 $1.28$0.85 $1.13 $1.83
Shares used in computing net income per share
attributable to Cimpress N.V.:
Basic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,644,870 32,873,234 33,209,172 37,813,504 43,431,326
Diluted . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 33,816,498 34,239,909 34,472,004 38,953,179 44,951,199
Year Ended June 30,
2015 (a) 2014 (b)(c) 2013 (c) 2012 (d) 2011
(In thousands)
Consolidated Statements of Cash Flows Data:
Net cash provided by operating activities . . . . . . . . . . . . . . . $ 228,876 $ 148,580 $ 140,012 $ 140,641 $162,633
Purchases of property, plant and equipment . . . . . . . . . . . . (75,813) (72,122) (78,999) (46,420) (37,405)
Purchases of ordinary shares . . . . . . . . . . . . . . . . . . . . . . . . — (42,016) (64,351) (309,701) (56,935)
Business acquisitions, net of cash acquired . . . . . . . . . . . . . (123,804)(216,384)—
(180,675)—
Net proceeds (payments) of debt . . . . . . . . . . . . . . . . . . . . . 54,207 207,946 8,051 227,181 (5,222)
As of June 30,
2015 (a) 2014 (b)(c) 2013 (c) 2012 (d) 2011
(In thousands)
Consolidated Balance Sheet Data:
Cash, cash equivalents and marketable securities (e) . . . . . $ 110,494 $76,365 $50,065 $62,203 $237,081
Working capital (e) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . (89,580) (83,560) (54,795) (26,381) 178,485
Total assets. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,308,242 988,985 601,567 592,429 555,900
Total long-term debt, excluding current portion (f) . . . . . . . . 499,941 410,484 230,000 229,000 —
Total shareholders’ equity. . . . . . . . . . . . . . . . . . . . . . . . . . . 249,419 232,457 189,561 189,287 450,093
___________________
(a) Includes the impact of the acquisitions of FotoKnudsen AS on July 1, 2014, FL Print SAS on April 9, 2015, Exagroup SAS on April 15, 2015
and druck.at Druck-und Handelsgesellschäft mbH on April 17, 2015, as well as our investment in Printi LLC on August 7, 2014. See Notes 8,
15 and 16 in our accompanying financial statements in this Report for a discussion of these transactions.
(b) Includes the impact of the acquisitions of Printdeal B.V. (formerly known as People & Print Group B.V.) on April 1, 2014 and Pixartprinting
S.p.A. on April 3, 2014, as well as our investment in a joint business arrangement with Plaza Create Co. Ltd. in February 2014. See Notes 8
and 15 in our accompanying financial statements in this Report for a discussion of these transactions.
(c) Includes the impact of our July 10, 2012 equity investment in Namex Limited. During the fourth quarter of fiscal 2014 we disposed of this
investment and recognized a loss on the sale of $12.7 million. See Note 16 in our accompanying financial statements in this Report for a
discussion of this investment.
(d) Includes the impact of the acquisitions of Albumprinter Holding B.V. on October 31, 2011 and Webs, Inc. on December 28, 2011. See Note 8
in our accompanying financial statements in this Report for a discussion of these acquisitions.
(e) We define working capital as current assets less current liabilities. Our working capital profile has evolved since fiscal 2011 as we have made
long-term investments that seek to drive shareholder value through acquisitions, ordinary share purchases, and other strategic initiatives. We
have financed these investments through a mix of cash on hand, cash flows generated from operations and external debt financing.
(f) On March 24, 2015, we completed a private placement of $275.0 million of 7.0% senior unsecured notes due 2022. The proceeds from the
sales of the notes were used to repay existing outstanding indebtedness under our unsecured line of credit, the indebtedness outstanding
under our senior secured credit facility and for general corporate purposes. See Note 11 in our accompanying financial statements in this
Report for additional discussion.