Shutterfly, Inc. (NASDAQ:SFLY) Q2 2017 Earnings Conference Call - Final Transcript

Jul 25, 2017 • 05:00 pm ET

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Shutterfly, Inc. (NASDAQ:SFLY) Q2 2017 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Part 01 Good day and welcome to Shutterfly Second Quarter 2017 Earnings Conference Call. [Operator Instructions]

I would now like to turn the conference over to Shawn Tabak, Vice President of Investor Relations. Please go ahead.

Executive
Shawn Tabak

Thank you, operator. Good afternoon, everyone. Welcome to Shutterfly's Second Quarter 2017 Earnings Call. With us today are, Christopher North, our Chief Executive Officer and Mike Pope, our Chief Financial Officer.

By now, you should have received a copy of our earnings press release, which crossed the wire just after the market closed. If you need a copy of the press release, please go to shutterflyinc.com to find an electronic copy. Our presentation is also available on our investor relations site. The audio of this conference call is being recorded for playback purposes, and a replay will be made available within a few hours.

Before we begin, I would like to note that our discussion today may include forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934. These forward-looking statements include statements about our business outlook and strategy and the assumptions underlying those statements, and statements about historical results that may suggest trends for our business.

For more information regarding the risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements, as well as risks relating to our business in general, we refer you to the risk factors section of our most recent Form 10-K and Form 10-Q, and our other filings with the SEC.

I would also like to note that any forward-looking statements made on this call reflect information and analysis as of today, and we assume no obligation to update this information. This information may contain certain financial performance measures that are different from financial measures calculated in accordance with GAAP, and may be different from calculations or measures made by other companies. A quantitative reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures is available on the Investor Relations section of our website at shutterflyinc.com.

Now, I would like to turn the call over to Chris. Chris?

Executive
Christopher North

Thanks, Shawn. I'd like to welcome all of you to the Shutterfly's Second Quarter 2017 Earnings Call. Today, I'll start by showing an overview of our quarterly results. I'll then go on to discuss the progress we've made against our areas of strategic focus, as well as against our platform consolidation and restructuring initiatives in our consumer business. After that, Mike will share the details behind our second quarter financial results, as well as our third quarter and full year 2017 outlook.

We had a solid second quarter with net revenues of $209 million. We saw mid-single-digit growth from our flagship Shutterfly brand, as well as continued growth in Shutterfly Business Solutions or SBS. We were pleased by the continued strong growth in Shutterfly's home decor and personalized gift categories, supported by our strategy of expanding the range of products