Shutterfly, Inc. (NASDAQ:SFLY) Q1 2018 Earnings Conference Call Transcript

May 01, 2018 • 05:00 pm ET

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Shutterfly, Inc. (NASDAQ:SFLY) Q1 2018 Earnings Conference Call Transcript

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Presentation
Executive
Michael W. Pope

lastly, intangible assets are expected to be approximately $300 million with a weighted average life of seven years resulting in the annual amortization of approximately $43 million. None of these estimated purchase accounting adjustments will impact cash flow or adjusted EBITDA.

With all that said, here's our non-GAAP annual guidance. Non-GAAP revenue, we expect to range from $2.01 billion to $2.06 billion. Shutterfly Consumer revenue to range from $1.02 billion to $1.05 billion. Lifetouch nine-month non-GAAP consumer revenue to range from $780 million to $790 million. SBS revenue to range from $210 million to $220 million. We expect a non-GAAP gross margin of approximately 62.4%; non-GAAP operating income to range from $185 million to $206 million; adjusted EBITDA to range from $390 million to $410 million; and non-GAAP earnings per share to range from $2.83 a share to $3.28 a share. We expect capital expenditures to be approximately $100 million.

Lastly, I'll note that this guidance excludes remaining acquisition related charges of $7 million, as well as $4 million of charges related to exiting the iMemories business.

Now, we'll open it up for questions.