Shutterfly, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported net revenues of $191,972,000 against $181,709,000 a year ago. Loss from operations was $49,760,000 against $41,814,000 a year ago. Loss before income taxes was $55,535,000 against $47,368,000 a year ago. Net loss was $33,194,000 against $29,436,000 a year ago. Basic and diluted net loss per share was $0.98 against $0.85 a year ago. Net cash used in operating activities was $72,386,000 against $82,610,000 a year ago. Purchases of property and equipment were $3,517,000 against $10,131,000 a year ago. Capitalization of software and website development costs was $7,602,000 against $8,639,000 a year ago. Non-GAAP net loss was $28,166,000 or $0.84 per share against $29,436,000 or $0.85 per share a year ago. Non-GAAP adjusted LBITDA was $1,915,000 against $2,550,000 a year ago.

The company provided earnings guidance for the second quarter and full year of 2017. For the second quarter of 2017, the company expects net revenues to range from $205.0 million to $212.0 million, operating loss to range from $24.5 million to $21.0 million, effective tax rate of 38.5%, net loss per share to range from $0.55 to $0.50 and adjusted EBITDA to range from $14.0 million to $17.5 million.

For the full year of 2017, the company expects net revenues to range from $1.135 billion to $1.165 billion, operating income to range from $48.5 million to $68.5 million, effective tax rate of 37.5%, net income per share to range from $0.45 to $0.80, adjusted EBITDA to range from $210.0 million to $230.0 million and capital expenditures to be approximately $75.0 million.