Shutterfly Loss Narrows, Cuts FY Revenue Outlook; Stock Down 10%

(RTTNews) - Shutterfly Inc. (SFLY) , a provider of digital personalized photo products, Tuesday reported third-quarter net loss of $10 million or $0.27 per share compared with a net loss of $10.5 million or $0.29 per share last year.

Excluding items, adjusted loss for the quarter were $9 million or $0.24 per share.

Revenues for the quarter were up 25% at $123 million compared with $99 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.61 per share on revenues of $118.37 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the fourth quarter, the company expects net earnings of $0.92 to $1.08 per share, adjusted earnings of $0.95 to $1.11 per share and revenues of $392.1 million to $405.1 million. Analysts expect earnings of $1.45 per share on revenues of $414.72 million.

For the full year 2013, the company now expects net earnings of $0.06 to $0.22 per share, adjusted earnings of $0.20 to $0.35 per share and revenues of $765 million to $778 million. It earlier estimated net earnings of $0.08 to $0.19 per share, adjusted earnings of $0.23 to $0.33 per share and revenues of $776 million to $781 million.

Analysts expect earnings of $0.28 per share on revenues of $784 million for the year.

The company's stock closed Tuesday at $52.26, down $1.79 or 3.31%, on a volume of 1.74 million shares on the Nasdaq. In after hours, the stock slid $5.26 or 10.07% at $47.00.