SEC Filings

10-Q
CIMPRESS N.V. filed this Form 10-Q on 11/03/2017
Entire Document
 

National Pen
 
Three Months Ended September 30,
 
2017

2016

2017 vs. 2016
Reported Revenue
$
59,717

 
n/a
 
n/a
Segment Profit
1,185

 
n/a
 
n/a
% of revenue
2
%
 
n/a
 
 
Segment Revenue and Profitability
As we acquired National Pen on December 30, 2016 there are no comparative operating results presented. For the three months ended September 30, 2017 reported revenue was $59.7 million and segment profit was $1.2 million. As National Pen profitability has traditionally been highly seasonal, we expect most profits to occur in the second quarter of our fiscal year.
All Other Businesses
 
Three Months Ended September 30,
 
2017
 
2016
 
2017 vs. 2016
Reported Revenue
$
28,054

 
$
26,334

 
7
%
Segment Loss
(7,551
)
 
(9,752
)
 
23
%
% of revenue
(27
)%
 
(37
)%
 
 
Segment Revenue
The All Other Businesses revenue increased 7% during the three months ended September 30, 2017, and was positively affected by currency impacts of 2%. Revenue growth was negatively impacted by the divestiture of our Albumprinter business, which we completed on August 31, 2017. Our constant-currency growth, excluding the impacts of our Albumprinter business was 40%, primarily driven by continued growth in our Most of World portfolio, as well as growth in our Corporate Solutions business.
Segment Profitability
The decrease in segment loss for the three months ended September 30, 2017 as compared to the prior period is primarily due to incremental gross profit, driven by revenue growth volume absorption in our Most of World businesses. In addition, the revenue growth in our Most of World and Corporate Solutions businesses has resulted in improved operating expense efficiencies.
Liquidity and Capital Resources
Consolidated Statements of Cash Flows Data:
In thousands
 
Three Months Ended September 30,
 
2017
 
2016
Net cash provided by operating activities
$
16,379

 
$
9,600

Net cash provided by (used in) investing activities
62,298

 
(27,452
)
Net cash used in financing activities
(75,459
)
 
(6,550
)
At September 30, 2017, we had $42.8 million of cash and cash equivalents and $829.3 million of outstanding debt, excluding debt issuance costs and debt discounts. We expect cash and cash equivalents and outstanding debt levels to fluctuate over time depending on our working capital needs, as well as our organic investment, share repurchase and acquisition activity. The cash flows during the three months ended September 30, 2017 related primarily to the following items:

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