Third quarter revenue grew 26 percent year over year to $257.6 million

Third quarter revenue grew 21 percent year over year excluding the impact of currency exchange fluctuations and revenue from acquisitions

GAAP net income per diluted share decreased 98 percent year over year to $0.01

Non-GAAP adjusted net income per diluted share decreased 54 percent year over year to $0.29

Revenue for the third quarter of fiscal year 2012 grew to $257.6 million, a 26 percent increase over revenue of $203.7 million reported in the same quarter a year ago. Excluding Albumprinter and Webs combined revenue of $14.0 million, total third quarter revenue was $243.6 million.

Excluding the estimated impact from currency exchange rate fluctuations and revenue from acquired businesses, total revenue grew 21 percent from the same quarter a year ago.

Gross margin (revenue minus the cost of revenue as a percent of total revenue) in the third quarter was 65.5 percent, compared to 65.3 percent in the same quarter a year ago.

Operating income in the third quarter was $7.8 million, or 3.0 percent of revenue, and reflected a 69 percent decrease compared to $25.6 million, or 12.6 percent of revenue in the same quarter a year ago.

GAAP net income for the third quarter was $0.3 million, or 0.1 percent of revenue, representing a 99 percent decrease compared to $22.9 million, or 11.3 percent of revenue in the same quarter a year ago.

GAAP net income per diluted share for the third quarter was $0.01, versus $0.51 in the same quarter a year ago.

Non-GAAP adjusted net income for the third quarter was $11.2 million, or 4.4 percent of revenue, representing a 60 percent decrease compared to $28.2 million, or 13.8 percent of revenue in the same quarter a year ago. Non-GAAP adjusted net income excludes $2.4 million of amortization expense for acquisition-related intangible assets, $1.0 million of tax charges related to the alignment of acquisition-related intellectual property with global operations, and $7.6 million of share-based compensation expense and its related tax effect.

Non-GAAP adjusted net income per diluted share for the third quarter, which excludes amortization expense for acquisition-related intangible assets, tax charges related to the alignment of acquisition-related intellectual property with global operations, and share-based compensation expense and its related tax effect, was $0.29, versus $0.63 in the same quarter a year ago.

Capital expenditures in the third quarter were $8.5 million or 3.3 percent of revenue.

During the third quarter, the company generated $9.6 million in cash from operations and $(0.3) million in free cash flow, defined as cash from operations less purchases of property, plant and equipment, purchases of intangible assets not related to acquisitions, and capitalization of software and website development costs.

The company had $52.1 million in cash and cash equivalents as of March 31, 2012.

Vistaprint acquired approximately 2.4 million new customers in the third fiscal quarter ended March 31, 2012, compared with 1.8 million in the same quarter a year ago, reflecting an increase of 33 percent.

On a trailing twelve month basis, unique active customer count was 13.8 million. Unique active customer count is the number of individual customers who purchased from us in a given period, with no regard to the frequency of purchase. This compares to 11.1 million in the twelve month period ended March 31, 2011.

Total order volume in the third quarter of fiscal 2012 was approximately 7.0 million, reflecting an increase of approximately 21 percent over total orders of approximately 5.8 million in the same quarter a year ago.

Average order value in the third quarter, including revenue from shipping and processing, was $35.38, compared with $36.03 in the same quarter a year ago.

Organic advertising and commissions expense was $62.9 million, or 25.8 percent of organic revenue in the third quarter, compared to $43.4 million, or 21.3 percent of revenue in the same quarter a year ago. Including advertising and commissions expense from the acquired businesses, total advertising and commissions expense was $64.5 million, or 25.0 percent of total revenue.

Revenue from customers in North America was $142.0 million, or 55 percent of total revenue in the third quarter. This represents 23 percent growth year over

year in both reported terms and in constant currency. Excluding Webs revenue of $2.3 million, revenue from customers in North America was $139.7 million, or 57 percent of total organic revenue in the third quarter. This represents 21 percent growth year over year in both reported terms and constant currency.

Revenue from customers in Europe was $100.2 million or 39 percent of total revenue in the quarter. This represents 29 percent growth year over year in reported terms and 34 percent growth in constant currency. Excluding Albumprinter revenue of $11.8 million, revenue from customers in Europe was $88.4 million, or 36 percent of total organic revenue in the third quarter. This represents 14 percent growth year over year in reported terms and 18 percent growth in constant currency.

Revenue from customers in Asia Pacific was $15.4 million, or 6 percent of total revenue in the third quarter. This represents 47 percent growth year over year in reported terms and 40 percent growth in constant currency.

For the full fiscal year ending June 30, 2012, the company expects revenue of approximately $1,018 million to $1,034 million, or 25 percent to 27 percent growth year over year in reported terms. Excluding currency movements and acquired revenue, we expect constant-currency organic growth of approximately 20 percent to 22 percent. Constant-currency growth expectations assume a recent 30-day currency exchange rate for all currencies.

For the fourth quarter of fiscal year 2012, ending June 30, 2012, the company expects revenue of approximately $248 million to $264 million, or 19 percent to

26 percent growth year over year in reported terms. We expect constant-currency organic growth of approximately 16 percent to 23 percent.

We expect to generate GAAP net income for the full year fiscal 2012 but may be unprofitable on a GAAP basis for the fourth quarter of fiscal 2012 due to the dilution of our recent acquisitions and timing of organic operating expenses. As a result, full year net income per share will be calculated using weighted average diluted shares outstanding, but if we generate a loss in our fourth quarter, quarterly net income per share will be calculated using weighted average basic shares outstanding. Therefore, we expect the full year net income per share results will not equal the sum of the net income per share results of each quarter.

For the full fiscal year ending June 30, 2012, the company expects GAAP net income per share of approximately $0.92 to $1.04, which assumes 39.1 million weighted average diluted shares outstanding.

For the fourth quarter of fiscal year 2012, ending June 30, 2012, the company expects GAAP net (loss) income per share of approximately $(0.10) to $0.02, which assumes 36.5 million weighted average basic shares outstanding in the event of a net loss and 37.8 million weighted average diluted shares outstanding in the event of net income.

For the full fiscal year ending June 30, 2012, the company expects non-GAAP adjusted net income per diluted share of approximately $1.71 to $1.83, which excludes expected acquisition-related amortization of intangible assets of approximately $5.8 million or approximately $0.15 per diluted share, share-based compensation expense and its related tax effect of approximately $24.8 million or approximately $0.63 per diluted share, and tax charges related to the alignment of acquisition-related intellectual property with global operations of approximately $1.0 million, or $0.03 per diluted share. This guidance assumes a non-GAAP weighted average diluted share count of approximately 39.6 million shares.

For the fourth quarter of fiscal year 2012, the company expects non-GAAP adjusted net income per diluted share of approximately $0.15 to $0.27, which excludes expected acquisition-related amortization of intangible assets of approximately $2.3 million or approximately $0.06 per diluted share, and share-based compensation expense and its related tax effect of approximately $7.4 million or approximately $0.19 per diluted share. This guidance assumes a non-GAAP weighted average diluted share count of approximately 38.5 million shares.

We are on track to deliver against our organic long-term targets for fiscal 2016 of at least $2 billion in revenue (20 percent CAGR) and $5.00 of GAAP net income per share, excluding the impact of acquisitions and fiscal 2012 share repurchases.

As previously disclosed, our previously announced fiscal 2012 acquisitions and interest expense related to year-to-date fiscal 2012 share repurchases and acquisitions have impacted our fiscal 2012 financial results relative to our expectations at the beginning of the fiscal year. These items are incorporated

in our fiscal 2012 performance year to date and the fiscal 2012 guidance described above. The combined dilution to fiscal 2012 GAAP net income resulting from these items is expected to be about $14 million, and non-GAAP net income dilution is expected to be about $2 million.

Additionally, as previously disclosed, we expect these fiscal 2012 acquisitions and interest expense related to year-to-date fiscal 2012 share repurchases and acquisitions will also impact our fiscal 2013 financial results. We expect these items to be dilutive to fiscal 2013 GAAP net income by $20 million to $24 million versus fiscal 2013 net income for our organic business alone. We also expect any non-GAAP net income dilution resulting from these items to be less than $4 million.

Assets

Current assets:

Cash and cash equivalents

Marketable securities

Accounts receivable, net of allowances of $179 and $243, respectively

Inventory

Prepaid expenses and other current assets

Total current assets

Property, plant and equipment, net

Software and website development costs, net

Deferred tax assets

Goodwill

Intangible assets, net

Other assets

Total assets

Liabilities and shareholders’ equity

Current liabilities:

Accounts payable

Accrued expenses

Deferred revenue

Deferred tax liabilities

Total current liabilities

Deferred tax liabilities

Other liabilities

Long-term debt

Total liabilities

Commitments and contingencies

Shareholders’ equity:

Preferred shares, par value €0.01 per share, 120,000,000 shares authorized; none issued and outstanding

Ordinary shares, par value €0.01 per share, 120,000,000 shares authorized; 49,950,289 and 49,950,289 shares issued and 36,981,162 and 43,144,718 outstanding, respectively

Treasury shares, at cost, 12,969,127 and 6,805,571 shares, respectively

Additional paid-in capital

Retained earnings

Accumulated other comprehensive (loss) income

Total shareholders’ equity

Total liabilities and shareholders’ equity

Revenue

Cost of revenue (1)

Technology and development expense (1)

Marketing and selling expense (1)

General and administrative expense (1)

Income from operations

Interest income

Other (expense) income, net

Interest expense

Income before income taxes

Income tax provision

Net income

Basic net income per share

Diluted net income per share

Weighted average shares outstanding - basic

Weighted average shares outstanding - diluted

Cost of revenue

Technology and development expense

Marketing and selling expense

General and administrative expense

Operating activities

Net income

Adjustments to reconcile net income to net cash provided by operating activities:

Depreciation and amortization

Amortization of debt issuance costs

Loss on sale, disposal, or impairment of long-lived assets

Amortization of premiums and discounts on marketable securities

Share-based compensation expense

Excess tax benefits derived from share-based compensation awards

Deferred income taxes

Changes in operating assets and liabilities, excluding the effect of business acquisitions:

Accounts receivable

Inventory

Prepaid expenses and other assets

Accounts payable

Accrued expenses and other liabilities

Net cash provided by operating activities

Investing activities

Purchases of property, plant and equipment

Business acquisitions, net of cash acquired

Maturities and redemptions of marketable securities

Purchases of intangible assets

Capitalization of software and website development costs

Net cash used in investing activities

Financing activities

Proceeds from borrowings of long-term debt

Payments of long-term debt

Payments of debt issuance costs

Payments of withholding taxes in connection with vesting of restricted share units

Repurchases of ordinary shares

Excess tax benefits derived from share-based compensation awards

Proceeds from issuance of shares

Net cash (used in) provided by financing activities

Effect of exchange rate changes on cash

Net (decrease) increase in cash and cash equivalents

Cash and cash equivalents at beginning of period

Cash and cash equivalents at end of period

Non-GAAP adjusted net income reconciliation:

Net income

Add back:

Share-based compensation expense, inclusive of income tax effects

Amortization of acquisition-related intangible assets

Tax cost of transfer of intellectual property

Non-GAAP adjusted net income

Non-GAAP adjusted net income per diluted share reconciliation:

Net income per diluted share

Add back:

Share-based compensation expense, inclusive of income tax effects

Amortization of acquisition-related intangible assets

Tax cost of transfer of intellectual property

Non-GAAP adjusted net income per diluted share

Non-GAAP weighted average shares outstanding - diluted

Free cash flow reconciliation:

Net cash provided by operating activities

Purchases of property, plant and equipment

Purchases of intangible assets not related to acquisitions

Capitalization of software and website development costs

Free cash flow

Revenue growth reconciliation by segment:

North America

Europe

Asia-Pacific

Total revenue

Revenue growth reconciliation by segment:

North America

Europe

Asia-Pacific

Total revenue