Shutterfly, Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2018; Provides Earnings Guidance for the Second Quarter and Third Quarter, Fourth Quarter of 2018 and Full Year Ending December 31, 2018
For the full ending December 31, 2018, on GAAP, the company expects net revenues to range from $1,970 million to $2,020 million, operating income to range from $130 million to $151 million, capital expenditures to range from $100 million, effective tax rate of 21.0%, and net income per diluted share to range from $1.58 to $2.04. The company also expects non-GAAP net revenues to range from $2,010 million to $2,060 million, non-GAAP operating income to range from $185 million to $206 million, non-GAAP net income per diluted share to range from $2.83 to $3.28, and adjusted EBITDA to range from $390 million to $410 million. The company expects a non-GAAP gross margin of approximately 62.4%. The company expects capital expenditures to be approximately $100 million. Non-GAAP effective tax rate to be 21.0% and adjusted EBITDA margin is to be 19.7%.
The company provided earnings guidance for the second quarter ending June 30, 2018. For the second quarter, the company expects net revenues of $459 million, operating income of $6 million, operating margin of 1.4%, adjusted EBITDA of $62 million, adjusted EBITDA margin of 13.5%, tax rate of 24.3% and net loss per basic share of $0.27.
The company provided earnings guidance for the third quarter ending September 30, 2018. For the third quarter, the company expects net revenues of $387 million, operating loss of $71 million, operating margin of 18.4%, adjusted LBITDA of $16 million, adjusted LBITDA margin of 4.0%, tax rate of 24.3% and net loss per basic share of $2.00.
The company provided earnings guidance for the fourth quarter ending December 31, 2018. For the quarter, on non-GAAP basis, the company expects net revenues of $989 million, operating income of $290 million, operating margin of 29.3%, adjusted EBITDA of $346 million, adjusted EBITDA margin of 35.0%, tax rate of 24.3% and net income per diluted share of $5.87.