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Strategies & Market Trends : The New Economy and its Winners

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From: Bill Harmond5/6/2014 4:15:11 PM
   of 57684
 
16:12 ZU zulily misses by $0.02, beats on revs; guides Q2 revs above consensus; guides FY14 revs above consensus (45.89 -2.56)
Reports Q1 (Mar) loss of $0.02 per share, $0.02 worse than the Capital IQ Consensus Estimate of ($0.00); revenues rose 87.3% year/year to $237.9 mln vs the $233.58 mln consensus.
  • Active customers grew to 3.7 million by the end of First Quarter 2014, an increase of 93% year over year. zulily defines an active customer as an individual customer who has purchased from zulily at least once in the last year, measured from the last date of a period.
  • Total orders placed increased to 5.5 million for the First Quarter 2014, an increase of 91% year over year.
  • Average order value increased to $55.34 for the First Quarter 2014, an increase of 4% year over year.
  • Co issues upside guidance for Q2, sees Q2 revs of $261-276 mln vs. $248.54 mln Capital IQ Consensus Estimate.
  • Net (loss)/income is expected to be between $(2.0) million and $3.0 million.
  • Non-GAAP adjusted EBITDA is expected to be between $5.0 million and $10.0 million.
  • Co issues upside guidance for FY14, sees FY14 revs of $1.15-1.20 vs. $1.15 bln Capital IQ Consensus Estimate (an increase from previously stated expectations of between $1.10 billion and $1.15 billion).
  • Net income before provision for income taxes is expected to be between $15.0 million and $25.0 million.
  • Non-GAAP adjusted EBITDA is expected to be between $45.0 million and $55.0 million.
  • Capital expenditures are expected to be between $45.0 million and $55.0 million and will be primarily for fulfillment centers to support growth.
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