CafePress (PRSS) Tops Q1 EPS by 5c

CafePress (NASDAQ: PRSS) reported Q1 EPS of ($0.12), $0.05 better than the analyst estimate of ($0.17). Revenue for the quarter came in at $27.4 million versus the consensus estimate of $30.4 million.

"CafePress has made measurable progress as we significantly simplified our company by divesting our Art and Groups businesses. We believe these transactions have strengthened our balance sheet and our recently announced stock repurchase program is a further example of our commitment to unlocking shareholder value. During the first quarter, we saw encouraging signs of early progress toward improving our Adjusted EBITDA, contribution margin and customer satisfaction scores,” said Fred Durham, Chief Executive Officer.

“We are taking proactive steps toward optimizing our business and operating as a leaner company focused on generating higher quality revenues. We believe that our data-driven approach to understanding opportunities with customers and partners will result in an increased ability to capture the very substantial opportunities within the personalized e-commerce market. We still have substantial work ahead of us as we continue to look for operational efficiencies while keeping a sharp focus on expense management. While these strategic moves may create near term pressure on revenue, we are extremely excited by the long-term prospects for CafePress,” concluded Mr. Durham.

For earnings history and earnings-related data on CafePress (PRSS) click here.

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