CafePress Inc (NASDAQ:PRSS) reported financial results for the three months and full year endedDecember 31, 2015.

Management Commentary

“CafePress performed well during the holiday season, meeting customer delivery demands as reflected by increasing satisfaction levels, and keeping our focus on a profitable product mix. During 2015, we made important structural changes to the business that resulted in a sharper focus on our coreCafePress.com business, higher contribution margin, and positive Adjusted EBITDA from continuing operations despite a lower revenue base,” saidFred Durham, Chief Executive Officer. “In 2016, we will focus on stabilizing our top line, maintaining a profitable product mix, rebuilding our customer experience and investing prudently to set the stage for a return to growth.”

Fourth Quarter 2015 Financial Highlights1

  • Net revenues totaled $39.7 million, compared to $50.4 million in the fourth quarter of 2014.
  • Gross profit margin was 39.9% of net revenues, compared to 34.6% in the fourth quarter of 2014.
  • GAAP net income from continuing operations was $0.8 million, or $0.05 per diluted share, compared to a net loss of $(0.6) million, or $(0.03) per diluted share, in the fourth quarter of 2014. 2015 net income includes restructuring costs of $0.8 million and asset impairments of $0.8 millionrelated to the streamlining of our facilities, equipment and software.
  • Non-GAAP Adjusted EBITDA from continuing operations was $4.1 million, compared to Adjusted EBITDA of $0.7 million in the fourth quarter of 2014.
  • Non-GAAP contribution margin was 28% of net revenues, compared to 19% in the fourth quarter of 2014.
  • Non-GAAP net income from continuing operations was $1.8 million, or $0.11 per diluted share, compared to a non-GAAP net loss of $(0.7) million, or $(0.04) per diluted share in the fourth quarter of 2014.

Fourth Quarter 2015 Operating Metrics

  • Average Order Value (AOV) was $36, a 4% increase from Q3 2015 and down 2% year-over-year.
  • Orders totaled 1.1 million, a 22% year-over-year decline.

Cash and Share Repurchase Activity

  • At December 31, 2015, cash, cash equivalents, and short-term investments totaled $50.3 million, or approximately $3.00 per share.
  • During the fourth quarter, the company repurchased approximately 294,000 shares of common stock totaling $1.2 million.
  • During fiscal year 2015, the company repurchased approximately 930,000 shares of common stock totaling $4.2 million.

Fiscal Year 2015 Financial Highlights1

  • Net revenues totaled $104.5 million, compared to $132.1 million in 2014.
  • Gross profit margin was 39.7% of net revenues, compared to 35.6% in 2014.
  • GAAP net loss from continuing operations was $(6.3) million, or $(0.36) per diluted share, compared to a net loss of $(14.9) million, or $(0.86)per diluted share, in 2014. The 2015 net loss includes restructuring costs of $1.3 million and asset impairments of $0.8 million related to the streamlining of our facilities, equipment and software.
  • Non-GAAP Adjusted EBITDA from continuing operations was $3.9 million, compared to Adjusted EBITDA of $(6.4) million in 2014.
  • Non-GAAP contribution margin was 27% of net revenues, compared to 17% in 2014.
  • Non-GAAP net loss from continuing operations was $(1.5) million, or $(0.09) per diluted share, compared to a non-GAAP net loss of $(8.8) million, or $(0.51) per diluted share in 2014.

Fiscal Year 2015 Operating Metrics

  • Average Order Value (AOV) was $36, down 8% year-over-year.
  • Orders totaled 2.9 million, a 16% year-over-year decline.

1Financial Highlights, Operating Metrics, and the accompanying tables reflect the results of the company’s divestitures of its Art, Logo, InvitationBox, and EZ Prints businesses in discontinued operations for all periods presented. Please see “Non-GAAP Financial Information” for definitions of the terms Non-GAAP Adjusted EBITDA, Non-GAAP contribution margin and Non-GAAP net income (loss) and Non-GAAP net income (loss) per diluted share. (Original Source)

Shares of CafePress closed today at $3.38, down $0.12 or -3.43%. PRSS has a 1-year high of $5.36 and a 1-year low of $3.02. The stock’s 50-day moving average is $3.51 and its 200-day moving average is $4.11.

On the ratings front, Raymond James analyst Aaron Kessler downgraded PRSS to Sell, in a report issued on November 13. According to TipRanks.com, Kessler has a total average return of 15.9%, a 55.4% success rate, and is ranked #72 out of 3638 analysts.

CafePress Inc provides e-commerce platform which enables customers to create, buy and sell a wide variety of customized and personalized products.