Shutterfly (SFLY)

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See all Bulls Reasons Bulls: Reasons To Buy One of top-ten most recognized brands by magazine advertisers 0% agree One of top-ten most recognized brands by magazine advertisers Shutterfly was found to be one of the top 10 most recognized brands according to a study done on magazine advertisers. The company has done an excellent job of creating awareness of the suite of products that are offered, and adding an emotional tie to their offering by selling memories instead of just selling photo products. View or Edit Reason 0 votes 0% agree Stock is cheap 0% agree Stock is cheap Stock (on Feb 22) is at $15.73, just above the $15 IPO price from late 2006. The IPO price will likely serve as a support area, and the stock is trading at a relatively attractive multiple given its strong earnings potential, and proven ability to grow sales and convert those sales to legitimate earnings. View or Edit Reason 0 votes 0% agree A new production facility in Charlotte will save costs and improve customer service 0% agree A new production facility in Charlotte will save costs and improve customer service A new production facility in Charlotte will save costs and improve customer service on the east coast. Previously everything was distributed out of its California hub making expedient delivery to the East Coast cost prohibitive. View or Edit Reason 0 votes 0% agree Bears: Reasons To Sell Feeling Bearish? Be the first to explain why this would make a poor investment Send the authors a comment or suggestion Scott and anyone else that is interested - Shutterfly announced that they acquired group sharing ... more [Dismiss] [Done] Great over view but, how can you mention Shutterfly without paying homage to Jim Clark (founder o... more [Dismiss] [Done] See All Suggestions

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[edit] Key Financials

• 2006 Revenues: $123 million
• 2005 Revenues: $84 million

[edit] Competitive Environment

The market for digital photography is large, fragmented, evolving, and intensely competitive, and the company expects competition to increase in the future. The company faces challenges from a variety of companies including:

• Online digital photography services companies such as Kodak EasyShare Gallery (formerly Ofoto), Snapfish, and others.
• "Big Box" retailers such as Wal-Mart Stores (WMT), Costco Wholesale (COST) and others that offer in-store fulfillment and self-service kiosks for printing
• Drug stores such as Walgreen Company (WAG) and CVS (CVS) that offer in-store pick-up from Internet orders.
• Regional photography companies such as Ritz Camera that have established brands and customer bases in some communities.
• Internet portals and search engines such as Yahoo! (YHOO), AOL, Google (GOOG), and CNET Networks (CNET) that offer broad-reaching digital photography and related products and services to their large user bases.
• Home printing service providers such as Hewlett-Packard Company (HPQ), Epson and Canon (CAJ), that are seeking to expand their printer and ink businesses by gaining market share in the emerging digital photography market; and
• Photo-related software companies such as Adobe Systems (ADBE), Apple (AAPL), Microsoft (MSFT), Corel (CREL) and others.

^[2]

[edit] Growth Plans

• Expand customer base
• Expand product and service offerings
• Increase sales to existing customers
• Leverage vertical integration
• Develop new lines of business
• International expansion

^[3]

References
1. 2006 Annual Report, p. 2
2. 2006 Annual Report, p. 11
3. 2006 Annual Report, p. 6-7

[edit] References

1. ↑ SFLY
2. ↑ SFLY
3. ↑ SFLY