Shares of CafePress Inc. (PRSS) plunged 40 percent in after-hours trade on Monday, after the company detailed a weak guidance for the third quarter and full year 2012.
Second-quarter net loss widened from last year, but on an adjusted basis earnings improved.
Second-quarter net loss was $0.3 million or $0.02 per share, compared to $0.1 million or $0.01 per share last year.
Adjusted net income for the quarter was $1.7 million or $0.10 per share, compared to $0.9 million or $0.06 per share last year. Analysts expected earnings of $0.10 per share for the quarter.
Net revenues for the quarter grew 26 percent to $47.1 million from $37.3 million last year. Analysts estimated revenues of $48.65 million for the quarter.
Looking forward to the third quarter, the company expects net revenues of $42.5 million to $45.0 million, net loss of $0.06 to $0.03 per share, and adjusted net income of $0.05 to $0.07 per share. Analysts currently estimate earnings of $0.10 per share and revenues of $50.0 million.
For the full year 2012, the company expects net revenues of $208 million to $217 million, earnings of $0.23 to $0.32 per share, and adjusted earnings of $0.68 to $0.77 per share. Analysts currently estimate earnings of $0.80 per share and revenues of $229.54 million.
Financial Chief Monica Johnson said, "We are taking a cautious approach to our outlook for the second half of 2012 given the current political cycles and macro weakness in Europe. We expect to end the year with a strong holiday season resulting in solid growth and profitability for the year."
PRSS closed Monday's trading on the Nasdaq at $13.70, down $0.98 or 6.68%. The stock further lost $5.25 or 38.32% in after-hours.
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