cafepress inc (PRSS) Snapshot

Acacia Research Corporation announced that its Express Card Systems LLC subsidiary has entered into a settlement and license agreement with CafePress Inc. The agreement resolves litigation that was pending in the United States District Court for the Eastern District of Texas.

CafePress Inc. Presents at Raymond James Internet/Software Crossover Investor Conference, May-30-2013 11:20 AM. Venue: The Ritz-Carlton, Half Moon Bay, California, United States.

CafePress Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported net revenues of $52,507,000 against $39,881,000 a year ago. Loss from operations was $5,869,000 against $770,000 a year ago. Loss before income taxes was $5,921,000 against $813,000 a year ago. Net loss was $3,984,000 or $0.23 per basic and diluted share against $544,000 or $0.06 per basic and diluted share a year ago. Net cash used in operating activities was $12,256,000 against $6,543,000 a year ago. Purchase of property and equipment was $498,000 against $470,000 a year ago. Capitalization of software and website development costs was $778,000 against $829,000 a year ago. The company had free cash flow of negative $1.2 million and that compared to cash inflow of $1.5 million during first quarter of 2012. Cash flow was impacted by investments in manufacturing consolidation and a profit seasonality of EZ Prints. Adjusted EBITDA was $71,000 compared to $2,832,000 in the previous year same period. Non-GAAP operating loss was $2,074,000 compared to Non-GAAP operating income of $1,398,000 for the same period a year ago. Non-GAAP net loss was $1,431,000 or $0.08 per basic and diluted share compared to non-GAAP net income of $907,000 or $0.06 per basic and diluted share for the same period a year ago. Capital expenditures for first quarter of 2013 of $1.3 million was flat compared to $1.3 million spent in the first quarter of 2012. The company provided earnings guidance for the second quarter and revised earnings guidance for the full year of 2013. For the second quarter of 2013, the company expects net revenues in the range of $50.5 million to $54.5 million, adjusted EBITDA ranging from a loss of $0.2 million to income of $1.3 million and non-GAAP net loss per diluted share of $0.11 to $0.04. The company assumes the tax rate is 24% for the quarter. For fiscal year 2013, the company revised its guidance as: Net revenues ranging from $248 million to $261 million, a year-over-year increase of 14% to 20%; Adjusted EBITDA of $11 million to $16 million; Non-GAAP net income per diluted share of $0.07 to $0.22; Total capital expenditures in the range of $12 million to $14 million.