CIMPRESS plc - FORM 8-K/A - EX-99.2

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Q2 Fiscal Year 2014

Earnings Presentation, Commentary

& Financial Results Supplement

January 29, 2014

Exhibit 99.2

Safe Harbor Statement

This presentation and the accompanying notes contain statements about our future expectations, plans and prospects of

our business that constitute forward-looking statements for purposes of the safe harbor provisions under the Private

Securities Litigation Reform Act of 1995, including but not limited to our financial guidance, outlook, expectations, and

investment areas for the fiscal year 2014; the anticipated effects on our business of our strategy and investments; and the

anticipated development of our business, markets, and financial results in fiscal 2014 and beyond, including the impact of

our hedging activities and intercompany activities. Forward-looking projections and expectations are inherently uncertain,

are based on assumptions and judgments by management, and may turn out to be wrong. Our actual results may differ

materially from those indicated by these forward-looking statements as a result of various important factors, including but

not limited to flaws in the assumptions and judgments upon which

our projections and guidance are based; our failure to

execute our strategy; our failure to make the investments in our

business that we plan to make or the failure of those

investments to have the effects that we expect; our failure to identify and address the causes of our revenue weakness in

Europe; our failure to acquire new customers and enter new markets, retain our current customers, and sell more

products to current and new customers; the willingness of purchasers of marketing services and products to shop online;

currency fluctuations that affect our revenues and costs, including the impact of our currency hedging strategies; costs

and disruptions caused by acquisitions; the failure of our acquired businesses to perform as expected; unanticipated

changes in our market, customers or business; our failure to promote and strengthen our brand; the failure of our current

and new marketing channels to attract customers; our failure to manage the growth, changes, and complexity of our

business and expand our operations; competitive pressures; our failure to maintain compliance with the financial

covenants in our revolving credit facility or to pay our debts when due; costs and judgments resulting from litigation;

changes in the laws and regulations or in the interpretations of

laws or regulations to which we are subject, including tax

laws, or the institution of new laws or regulations that affect our business; and general economic conditions. You can also

find other factors described in our Form

10-Q for the fiscal quarter ended September

30, 2013 and the other documents

we periodically file with the U.S. Securities and Exchange Commission.

Presentation Organization & Call Details

Presentation Organization:

•

Q2 FY14 overview

•

Q2 FY14 operating and

financial results

•

FY14 outlook

•

Supplementary information

•

Reconciliation of GAAP to

Non-GAAP results

Live Q&A Session:

•

5:15 p.m. Eastern

•

Link from the IR section of

www.vistaprint.com

•

Hosted by:

Robert Keane

President & CEO

Ernst Teunissen

EVP & CFO

Consolidated

Quarterly Financial Results

$258

$250

$251

$348

$288

$280

$275

$371

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Consolidated Revenue

$0.01

$0.10

$(0.05)

$0.66

$0.17

$0.07

$0.01

$1.18

$0.29

$0.40

$0.25

$1.02

$0.48

$0.41

$0.45

$1.50

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

GAAP EPS*

Non-GAAP EPS*

Revenue and EPS results for the consolidated business, including Albumprinter and Webs results since October 31, 2011 and December 28, 2011 (dates of purchase, respectively).

Non-GAAP adjusted net income for all periods presented excludes the impact of share-based compensation expense and its related tax effect, amortization of acquired intangibles,

charges related to the alignment of Webs IP with our global structure, changes in unrealized gains and losses on currency forward contracts, and unrealized currency transaction

gains and losses on intercompany financing arrangements and the related tax effect. Please see reconciliation to GAAP net income at the end of this presentation.

Q2 FY204 Non-GAAP EPS reflects recast to exclude impact of changes in unrealized gains/losses on hedges

* Per diluted share

FY14 Operational Performance:

Invigorate the Core Business

Strategy Element

Description

Long-Term Goals

Q2FY14 Examples

Change from short-term

transaction-focused decision-

making to long-term customer-

focused value. Do so by making

major improvements to customer

experience, marketing methods,

service levels and product quality

Increase customer satisfaction,

loyalty and life time value

•

Continued to roll out pricing and

messaging changes in various

countries

•

Launched new creative designs

•

Enhanced product packaging

•

Rolled out carrier notifications

for customers in certain markets

Invest more deeply into selected

traditional Vistaprint marketing

channels and expand in relatively

new channels such as broadcast

with higher than average COCA,

but with ROI still above our hurdle

rate

Accelerate new customer

acquisition

Reach offline audiences not

currently looking to online suppliers

•

Continued to optimize spend in

relatively new channels

•

Trimmed ad expense in Europe

with change in customer

economics

•

Launched new broadcast

advertising campaigns

Accelerate investment in production

process improvements, employee

training, supply chain management

and manufacturing-related

engineering

Step function changes in quality

and reliability

Significantly lower unit

manufacturing costs

•

New product launches

•

Cost savings through recycling

and scrap reduction

•

Vendor negotiation for more

favorable costs

Customer Value

Proposition

Improvements

Life Time Value

Based Marketing

World Class

Manufacturing

FY14 Operational Performance:

Build Foundations for Future Growth

Strategy Element

Description

Long-Term Goals

Q2FY14 Examples

Digital small business marketing

offerings (websites, email

marketing, social media)

Lay foundations for continued rapid

growth five and more years in the

future

Seek M&A opportunities of firms

that possess technology, market

presence and/or expertise in target

areas

•

Total Q2 digital marketing

services revenue of approx. $20

million (includes Webs) or

approx. 5% of revenue

•

Webs site builder technology

localized and rolled out to EU

markets

•

New capabilities in other

products

Enable customers to share and

preserve memories through

personalized products for home

and family use

•

Launched over 150 new holiday

card designs with added photo

and backside options

•

New lay-flat photo books for

Albumprinter customers

Expand to markets beyond North

America and Europe

•

Continued focus on supporting

growth in India, Japan and

China, entering into a definitive

agreement for a joint venture

with Plaza Create in Japan

Digital Marketing

Home & Family

Geographic Expansion

Q2 FY 2014

Financial and Operating

Results

Q2 FY 2014: Key Financial Metrics

Quarter Ended 12/31/2013

Six Months Ended 12/31/2013

Revenue

•

$370.8 million

6% y/y growth

6% y/y constant currency growth

•

$645.9 million

8% y/y growth

7% y/y constant currency growth

GAAP Net

Income

•

$40.9 million

11.0% net margin vs. 6.6% last year

increase of 78% y/y

•

$1.18 Diluted EPS

increase of 79% y/y

•

$41.3 million

6.4% net margin vs. 3.5% last year

increase of 94% y/y

•

$1.20 Diluted EPS

increase of 97% y/y

Non-GAAP

Adjusted Net

Income**

•

$52.7 million

14.2% net margin vs. 10.3% last year

increase of 47% y/y

•

$1.50 Non-GAAP Diluted EPS

increase of 47% y/y

•

$68.8 million

10.6% net margin vs. 7.5% last year

increase of 53% y/y

•

$1.96 Non-GAAP Diluted EPS

increase of 56% y/y

Consolidated

Non-GAAP adjusted net income and non-GAAP adjusted EPS exclude share-based compensation expense and its related tax effect,

amortization of acquired intangible assets, charges related to the alignment of Webs IP with our global operations, changes in unrealized

gains and losses on currency forward contracts, and unrealized currency transaction gains and losses on intercompany financing

arrangements and the related tax effect. Please see reconciliation to GAAP net income (loss) and EPS at the end of this presentation.

Consolidated

Cash Flow & ROIC Highlights

Quarterly cash flows and investments (in millions)

Q2FY14

Q2FY13

Cash flow from operations

$95.0

$88.5

Free cash flow*

$67.8

$58.7

Capital expenditures

$24.6

$27.6

as % of revenue

6.6%

7.9%

Trailing Twelve Month Return on Invested Capital** (GAAP)

15%

Trailing Twelve Month Return on Invested Capital** (Non-GAAP)

24%

17%

Share repurchase program

Q2FY14

Shares purchased

Average cost per share

Total purchase spend, inclusive of transaction costs, in millions

Balance sheet (in millions, as of December 31, 2013)

Cash and cash equivalents

$62.3

FCF = Cash Flow from Operations – Capital Expenditures – Purchases of Intangible assets not related to acquisitions – Capitalized

Software Expenses

ROIC = NOPAT / (Debt + Equity – Excess Cash)

Net operating profit after taxes (NOPAT)

Excess cash is cash and investments of 5% of last twelve month revenues

Operating leases have not been converted to debt

Non-GAAP TTM ROIC excludes share-based compensation expense and its related tax effect, amortization of acquired intangibles, charges

related to the alignment of Webs IP with our global operations, changes in unrealized gains and losses on currency forward contracts, and

unrealized currency transaction gains and losses on intercompany financing arrangements and the related tax effect

Excess cash definition updated in period ending 03/31/2013 and for prior periods.

Geographic Segment Revenue

Quarterly

(millions)

North America:

51% of total revenue

13% y/y growth

14% y/y constant currency

growth

Europe:

43% of total revenue

1% y/y growth

-2% y/y constant currency

growth

Asia Pacific:

5% of total revenue

-5% y/y growth

6% y/y constant currency

growth

Q2 FY2014

Consolidated

$142.0

$143.4

$144.2

$167.5

$163.0

$169.6

$164.8

$189.4

$100.2

$92.0

$89.7

$159.3

$108.3

$94.9

$94.7

$161.0

$15.4

$15.1

$17.5

$21.5

$16.4

$15.6

$20.3

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Asia-Pacific

Europe

North America

Revenue results for the consolidated business, including Albumprinter and Webs results since respective acquisition dates. All Albumprinter revenue included in

European segment. All Webs revenue included in North American segment.

Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year

period’s average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges recognized in

revenue for applicable periods.

Please see reconciliation to reported revenue growth rates at the end of this presentation.

Operational Metrics

(Includes Albumprinter and Webs as of acquisition dates)

*Albumprinter and Webs included starting Q3FY12

Also starting in the same period, a minor calculation methodology change was made in order to accommodate the

consolidation of metrics.

Consolidated

$36.03

$37.75

$36.38

$34.61

$34.43

$35.69

$35.79

$35.72

$37.56

$39.08

$39.40

$40.92

FY11

FY12

FY12*

FY12

FY13

FY14

5.8

5.6

5.9

8.3

7.6

7.0

7.1

9.8

7.8

7.1

9.1

FY11

FY12

FY12*

FY12

FY13

FY14

Orders (M)

Average Order Value

Consolidated

Operational Metrics

(Includes Albumprinter and Webs as of acquisition dates)

*Albumprinter and Webs included starting Q3FY12

Also starting in the same period, a minor calculation methodology change was made in order to accommodate the

consolidation of metrics.

Consolidated

Historical Revenue Driver Metrics

(Includes Albumprinter and Webs as of acquisition dates)

*trailing twelve month at period end

FY12

FY13

FY14

TTM Unique Customers (M)

14.2

15.0

15.8

16.6

16.9

17.0

17.1

16.9

TTM New

Customers (M)

9.1

9.6

10.1

10.5

10.4

10.0

TTM

Repeating

Customers

(M)

5.1

5.4

5.7

6.1

6.4

6.5

6.7

6.9

As % of Unique

Customers

TTM New Customers

64%

63%

62%

61%

59%

TTM Repeating Customers

36%

37%

38%

39%

41%

Y/Y

Growth

TTM Unique Customers

28%

32%

33%

29%

19%

13%

TTM New

Customers

26%

30%

31%

25%

15%

-5%

TTM

Repeating

Customers

31%

34%

35%

37%

25%

20%

18%

13%

Implied

Retention**

46%

47%

48%

45%

43%

42%

5.1

5.4

5.7

6.1

6.4

6.5

6.7

6.9

9.1

9.6

10.1

10.5

10.4

10.0

FY12

FY13

FY14

TTM* Unique Customers (M)

New Customers Aquired in Period

Customers Repeating from Prior Periods

**TTM repeating customers as % of year-ago unique customers

Starting in Q3 FY12, impact of Albumprinter and Webs has been included.

16.9

14.2

15.0

15.8

16.6

17.0

17.1

16.9

Consolidated

Historical Revenue Driver Metrics

(Includes Albumprinter and Webs as of acquisition dates)

Average Customer Bookings:

$51

$50

$51

$99

$98

$97

$96

$97

$98

$100

$69

$68

$67

$68

$69

$70

$72

FY12

FY13

FY14

Average Bookings Per Unique

Customer (USD)

New

Repeat

Total

$52

$53

FY12

FY13

FY14

Average

Bookings per

Unique Customer

$69

$68

$67

$68

$69

$70

$72

Average Bookings per New

Customer

$51

$50

$51

$52

$53

Average Bookings per

Repeat

Customer

$99

$98

$97

$96

$97

$98

$100

Y/Y

Growth

Average

Bookings per

Unique

Customer

-1%

-6%

-8%

-6%

-1%

Average Bookings per New

Customer

-6%

-7%

-9%

-6%

-2%

Average Bookings per

Repeat Customer

-2%

-5%

-4%

-3%

-1%

Starting in Q3 FY12, impact of Albumprinter and Webs has been included.

Looking Ahead

FY14 Outlook Commentary

•

Revenue guidance range changes:

o

~6% to 8% constant currency growth

•

North America growth in low to mid teens

•

Europe growth roughly flat

•

APAC growth in mid single digits

o

At low end of former expectation range

o

We are patient with low revenue growth rates this year, as they come with

positive long-term changes to customer value proposition and profitability

improvements, especially in Europe

•

EPS guidance range:

o

Continue to expect strong margin and EPS growth year over year

o

Raising our EPS guidance range

o

Special items are largely timing issues and under current currency

assumptions, should not materially impact the full year

•

Mark-to-market net impact of unrealized hedge gains/losses

•

Currency gains/losses on intercompany financing arrangements

Revenue and EPS Guidance*

(as of January 29, 2014)

FY14

ending 06/30/2014

Revenue

$1,235

$1,265

Revenue growth from FY 2013 period

Constant currency revenue growth estimate

GAAP EPS

$1.55

$1.80

EPS growth from FY 2013 period

82% -

112%

GAAP share count

34.5 million

FY14

ending 06/30/2014

Non-GAAP adjusted EPS

$2.68

$2.93

EPS growth from FY 2013 period

25%

–

36%

Non-GAAP share count

35.0 million

Non-GAAP exclusions

$39.6

* Millions, except share and per share amounts and as noted

Consolidated

The Company is providing the following assumptions to facilitate non-GAAP adjusted net income per diluted share comparisons that exclude share-based

compensation related expenses, amortization of acquired intangible assets, tax charges related to the alignment of IP with our global operations, changes in

unrealized gains and losses on currency forward contracts, and unrealized currency transaction gains and losses on intercompany financing arrangements:

Capital Expenditures Guidance

(as of January 29, 2014)

Expressed as percent of revenue

FY 2014 Guidance:

$80M -

$90M

6% -

7% of revenue

Actuals

Guidance

$63M

$76M

$90M

$80M

$101M

$37M

$46M

$79M

Consolidated

14%

FY 07

FY 08

FY 09

FY 10

FY 11

FY 12

FY 13

FY 14-High

FY 14-Low

Other

Land and Facilities

Manufacturing &

Automation Equipment

25%

16%

15%

guidance midpoint

Summary

•

Focus on strategic initiatives and operational

implementation

•

Patient with our slower revenue growth

•

Strong profit execution

•

Continued focus on driving:

o

Competitive advantage

o

Long-term revenue and profit growth

o

Significant value for long-term shareholders

Q&A Session

Please go to the

Investor Relations section of www.vistaprint.com

for the live Q&A call at

5:15 pm EST on January 29, 2014

Q2 Fiscal Year 2014

Financial and Operating Results Supplement

Consolidated

Total Company Growth Rates*

reported

constant-currency

22% constant-currency growth

FY11

FY12

25% constant-currency growth

FY13

16% constant-currency growth

7% constant-currency growth

10%

15%

20%

25%

30%

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12*

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Constant-Currency

Reported

*Starting in Q2FY2012, revenue from acquired companies included.

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the

current period using the prior year period’s average exchange rate for each currency to the U.S. dollar and excludes the impact of

gains and losses on effective currency hedges recognized in revenue for applicable periods.

Please see reconciliation to reported revenue growth rates at the end of this presentation.

YTD FY14

Consolidated

*Starting in Q2FY2012, revenue from acquired companies included.

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current

period using the prior year period’s average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses

on effective currency hedges recognized in revenue for applicable periods.

Please see reconciliation to reported revenue growth rates at the end of this presentation.

Segment Revenue Growth Rates*

Constant Currency

Consolidated

FY11 64.8%

FY12 65.2%

FY13 65.7%

YTD FY14 66.5%

$133

$134

$200

$169

$162

$163

$234

$189

$179

$250

65.3%

63.9%

63.2%

66.8%

65.5%

64.6%

65.0%

67.2%

65.5%

64.6%

65.2%

67.4%

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Gross Profit (millions)

GM %

$181

Gross Margin and Gross Profit

Consolidated

FY11 $82

FY12 $44

FY13 $29

YTD FY14 $41

$23

$14

$32

$(2)

$23

$41

11.3%

6.9%

3.8%

10.6%

0.1%

1.5%

-0.7%

6.6%

2.0%

0.8%

0.1%

11.0%

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

GAAP Net Income (loss), in millions

GAAP Net Margin

GAAP Net Income (Loss) and Net Margin

Non-GAAP Adjusted Net Income*

and Non-GAAP Adjusted Net Margin

*Non-GAAP adjusted net income for all periods presented excludes the impact of share-based compensation expense and its

related tax effect, amortization of acquired intangibles, charges related to the alignment of Webs IP with our global structure,

changes in unrealized gains and losses on currency forward contracts, and unrealized currency transaction gains and losses on

intercompany financing arrangements and the related tax effect. Please see reconciliation to GAAP net income at the end of this

presentation.

FY11 $105

FY12 $77

FY13 $76

YTD FY14 $69

$28

$20

$13

$38

$11

$15

$36

$17

$14

$16

$53

13.8%

9.4%

6.1%

12.6%

4.4%

5.9%

3.5%

10.3%

5.9%

5.0%

5.9%

14.2%

Non-GAAP Adjusted Net Income (millions)

Non-GAAP Adjusted Net Margin

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Consolidated

Q2 Income Statement Comparison to Prior Year

(as a percentage of revenue)

14.2%

9.5%

8.2%

7.6%

11.5%

33.5%

38.6%

32.6%

32.8%

Q2 FY2014

Q2 FY2013

Cost of revenue

Marketing and selling

Technology and development

General and administrative

Income from operations

Consolidated

Consolidated

Q2 Income Statement Comparison to Prior Quarter

(as a percentage of revenue)

14.2%

3.1%

8.2%

9.5%

11.5%

15.4%

33.5%

37.2%

32.6%

34.8%

Q2 FY2014

Q1 FY2014

Cost of revenue

Marketing and selling

Technology and development

General and administrative

Income from operations

Share-Based Compensation* (millions)

* Share-based compensation (SBC) expense includes SBC-related tax adjustment.

FY11 $22.4

FY12 $26.1

FY13 $33.7

YTD FY14 $16.6

$5.3

$5.1

$4.9

$5.0

$7.6

$8.6

$8.4

$8.5

$8.4

$8.3

$8.6

$8.1

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Consolidated

* Home and family revenue is calculated using a product format-based approach; all Albumprinter

revenue is included in home and family and all Webs revenue is included in Small business marketing

$204

$209

$212

$300

$258

$250

$251

$348

$288

$280

$275

$371

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Small Business Marketing*

Home and Family*

Consolidated

Revenue Seasonality

(Includes Albumprinter and Webs as of the dates of acquisition)

Consolidated

Balance Sheet Highlights

Balance Sheet highlights, in millions, at period end

12/31/13

09/30/2013

06/30/13

03/31/13

12/31/12

Total assets

$674.6

$638.7

$601.6

$616.4

$653.7

Cash and cash equivalents

$62.3

$64.7

$50.1

$51.3

$64.7

Total current assets

$135.5

$121.8

$100.2

$104.4

$132.3

Goodwill and intangible assets

$171.6

$171.5

$171.2

$174.3

$179.2

Total liabilities

$414.4

$432.0

$412.0

$414.7

$443.8

Current liabilities

$197.9

$144.3

$155.0

$154.0

$182.4

Long-term debt

$189.3

$262.5

$230.0

$229.0

$230.5

Shareholders’

Equity

$260.3

$206.7

$189.6

$201.7

$209.9

Treasury shares (in millions)

10.9

11.0

11.3

10.9

16.4

Consolidated

Total Debt as of December 31, 2013

Availability under our credit facility ($ millions)*

12/31/13

Maximum aggregate available borrowing amounts

496.3

Outstanding borrowings of credit facility

(204.5)

Remaining amount

291.8

Limitations

borrowing

due

debt

covenants

and

other

obligations**

(2.1)

Amount available for borrowing as of December 31, 2013

$289.7

•

Aggregate loan commitments of $496.3M

•

Interest

rate

LIBOR

plus

1.50%

2.0%, depending on leverage

•

Currently in compliance with all covenants. Key financial covenants are:

Total

leverage

ratio

not

exceed

3.5x

TTM

EBITDA

(reducing

3.25x

3/31/14

and

3.0x

3/31/15).

Interest

coverage

ratio

least

3.0x

TTM

EBITDA.

•

Purchases of our ordinary shares, payments of dividends, and mergers and acquisitions are subject to more restrictive

consolidated leverage ratio thresholds than those listed above when calculated on a proforma basis in certain scenarios. Also the

credit agreement limits the amount of purchases of our ordinary shares, payments of dividends, mergers and acquisitions,

investments in joint ventures or minority interests, and consolidated capital expenditures that we may make. These limitations can

include annual limits that vary from year-to-year and aggregate limits over the term of the credit facility. Therefore, our ability to

make desired investments may be limited during the term of our revolving credit facility.

* As

announced

our

Form

8-K

filed

January

22,

2014,

entered

into

amendment

our

credit

agreement

January

17,

2014

resulting

increase

aggregate

loan

commitments

under

the

credit

agreement

$303.75

million,

total

$800.0

million

adding

new lenders and increasing the commitments of several existing lenders. The loan commitments consist of revolving loans of $640.0 million

and a term loan of $160.0 million. Key covenants, pricing, and maturity date have remained the same.

** Our borrowing ability can be limited by our debt covenants each quarter. These covenants may limit our borrowing capacity depending on

our leverage, other indebtedness, such as installment obligations and letters of credit, and other factors that are outlined in our credit

agreement filed as an exhibit in our Form 8-Ks filed on February 13, 2013 and January 22, 2014.

o

o

Q2 FY14 Capital Expenditure Breakdown

Q2 FY14 CapEx: $24.6M

Consolidated

17%

61%

22%

Land/Facilities

Mfg & Automation

Equipment

Other

1 Land, building and construction, leasehold improvements, and furniture and fixtures

2 All manufacturing and automation equipment, including offset and digital print lines, other printing

equipment, pre-press and post-press equipment such as cutters, and automation equipment

3 IT infrastructure, software and office equipment

Appendix

Including a Reconciliation of

GAAP to Non-GAAP Financial

Measures

About

non-GAAP financial measures

To supplement Vistaprint’s consolidated financial statements presented in accordance with

U.S. generally accepted

accounting principles, or GAAP, Vistaprint has used the following measures defined as non-GAAP financial measures by

Securities and Exchange Commission, or SEC, rules: non-GAAP adjusted net income, non-GAAP adjusted net income

per diluted share, free cash flow and constant-currency revenue growth. The items excluded from the non-GAAP

adjusted net income measurements are share-based compensation expense and its related tax effect, amortization of

acquisition-related intangibles, tax charges related to the alignment of acquisition-related intellectual property with global

operations, changes in unrealized gains and losses on currency forward contracts, and unrealized currency transaction

gains and losses on intercompany financing arrangements and the related tax effect. Free cash flow is defined as net

cash provided by operating activities less purchases of property, plant and equipment, purchases of intangible assets

not related to acquisitions, and capitalization of software and website development costs. Constant-currency revenue

growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the

prior year period’s average exchange rate for each currency to the U.S. dollar and

excludes the impact of gains and

losses on effective currency hedges recognized in revenue in the

prior year periods.

The presentation of non-GAAP financial information is not intended to be considered in isolation or as a substitute for the

financial information prepared and presented in accordance with GAAP. For more information on these non-GAAP

financial

measures,

please

see

the

tables

captioned

“Reconciliations

Non-GAAP

Financial

Measures”

included

the

end

this

release.

The

tables

have

details

the

GAAP

financial

measures

that

are

most

directly

comparable

non-GAAP financial measures and the related reconciliation between these financial measures.

Vistaprint’s management believes that these non-GAAP financial measures provide meaningful supplemental

information in assessing our performance and liquidity by excluding certain items that may not be indicative of our

recurring core business operating results, which could be non-cash charges or discrete cash charges that are infrequent

in nature. These non-GAAP financial measures also have facilitated management’s internal comparisons to Vistaprint’s

historical performance and our competitors’

operating results.

Reconciliation: GAAP to Non-GAAP Results

FY 2003

FY 2004

FY 2005*

FY 2006

FY 2007

FY 2008

FY 2009

FY2010

FY2011

FY2012

FY2013

GAAP Net Income

$473

$3,440

($16,218)

$19,234

$27,143

$39,831

$55,686

$67,741

$82,109

$43,994

$29,435

Share-based

compensation and

related tax effect

$4,850

$8,765

$15,275

$20,177

$23,156

$22,400

$26,060

$33,662

Amortization of

acquired intangible

assets

$5,754

$10,361

Tax Impact of Webs

IP transfer

$1,235

$2,387

Non-GAAP

Adjusted Net Income

$473

$3,440

$4,782

$23,146

$35,908

$55,106

$75,863

$90,897

$104,50

$77,043

$75,845

Net Income (Loss) –

Annual

($ in thousands)

*Fiscal 2005 non-GAAP results exclude a contract termination payment of $21mm

Reconciliation: GAAP to Non-GAAP Results

Net Income (Loss)

–

Quarterly

($ in thousands)

Fiscal Year 2011

Fiscal Year 2012

Fiscal Year 2013

FY2014

GAAP Net Income

$22,917

$14,397

$8,172

$31,697

$274

$3,851

$(1,696)

$22,960

$5,866

$2,305

$412

$40,875

Share-based

compensation and

related tax effect

$5,285

$5,129

$4,876

$5,021

$7,566

$8,596

$8,445

$8,540

$8,353

$8,324

$8,576

$8,062

Amortization of

acquired intangible

assets

$1,148

$2,381

$2,225

$2,178

$2,243

$2,275

$3,665

$2,200

$2,249

Tax Impact of Webs

IP Transfer

$1,017

$218

$2,164

$431

($208)

$63

$1,468

Changes in

unrealized (gain)

loss on currency

forward contracts

included in net

income

$4,856

$(1,155)

Unrealized currency

transaction loss on

intercompany loan

and the related tax

effect

$1,163

Non-GAAP

Adjusted Net

Income

$28,202

$19,526

$13,048

$37,866

$11,238

$14,890

$8,927

$35,907

$16,925

$14,086

$16,107

$52,662

Reconciliation: GAAP to Non-GAAP Results

Diluted Earnings Per Share -

Annual

FY 2006

FY 2007

FY 2008

FY 2009

FY2010

FY2011

FY2012

FY2013

GAAP Net Income per share

$0.45

$0.60

$0.87

$1.25

$1.49

$1.83

$1.13

$0.85

Share-based Compensation

and related tax effect per

$0.09

$0.18

$0.31

$0.43

$0.49

$0.47

$0.65

$0.95

Amortization of acquired

intangible assets per share

$0.14

$0.29

Tax Impact of Webs IP

Transfer per share

$0.03

$0.06

Non-GAAP Adjusted Net

Income per share

$0.54

$0.78

$1.18

$1.68

$1.98

$2.30

$1.95

$2.15

Weighted average shares

used in computing Non-

GAAP EPS

(millions)

42.651

45.825

46.780

45.099

45.989

45.448

39.426

35.201

Reconciliation: GAAP to Non-GAAP Results

Earnings

Per

Diluted

Quarterly

Fiscal Year 2011

Fiscal Year 2012

Fiscal Year 2013

FY2014

GAAP Net Income per

$0.51

$0.32

$0.19

$0.82

$0.01

$0.10

$(0.05)

$0.66

$0.17

$0.07

$0.01

$1.18

Share-based Compensation

and related tax effect per

$0.12

$0.11

$0.12

$0.20

$0.23

$0.24

$0.25

$0.22

Amortization of acquired

intangible assets per share

$0.03

$0.06

$0.11

$0.06

Tax impact of Webs IP

Transfer per share

$0.02

$0.01

$0.06

$0.01

$(0.01)

$0.00

$0.04

Changes in unrealized

(gain) loss on currency

forward contracts included

in net income per share

$0.13

$(0.03)

Unrealized currency

transaction loss on

intercompany loan and the

related tax effect per share

$0.00

$0.03

Non-GAAP Adjusted Net

Income per share

$0.63

$0.43

$0.31

$0.97

$0.29

$0.40

$0.25

$1.02

$0.48

$0.41

$0.45

$1.50

Weighted average shares

used in computing Non-

GAAP EPS

(millions)

45.079

45.156

42.569

39.041

38.346

37.620

35.793

35.156

35.217

34.633

35.005

35.118

Reconciliation: Free Cash Flow

(in thousands)

Three Months Ended

Six Months Ended

December 31,

2013

2012

2013

2012

Net cash provided by operating activities

Purchases of property, plant and

equipment

Purchases of intangibles assets

Capitalization of software and website

development costs

Free cash flow

95,027

(24,592)

(44)

(2,605)

67,786

88,533

(27,609)

(361)

(1,839)

58,724

94,904

(42,169)

(119)

(4,419)

48,197

95,183

(55,368)

(370)

(3,140)

36,305

Reconciliation:

Constant-Currency Revenue Growth Rates

Quarterly

ASIA-PACIFIC

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Reported revenue growth

50%

65%

67%

41%

47%

28%

26%

(11%)

(5%)

Currency impact

(15%)

(26%)

(22%)

(4%)

(7%)

(3%)

13%

11%

Revenue growth in constant

currency

35%

39%

45%

37%

40%

33%

29%

24%

10%

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year period’s

average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges recognized in revenue for applicable

periods.

EUROPE

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Reported revenue growth

22%

38%

31%

36%

29%

18%

12%

11%

Currency impact

(1%)

(15%)

(10%)

12%

11%

(1%)

(4%)

(3%)

Revenue growth in constant

currency

21%

22%

21%

37%

34%

30%

23%

14%

(2%)

Reconciliation:

Constant-Currency Revenue Growth Rates

Quarterly

NORTH AMERICA

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Reported revenue growth

21%

18%

17%

20%

23%

20%

22%

20%

15%

18%

14%

13%

Currency impact

Revenue growth in constant

currency

21%

18%

17%

20%

23%

21%

22%

20%

15%

18%

15%

14%

Note: Constant-currency revenue growth is estimated by translating all non-U.S. dollar denominated revenue generated in the current period using the prior year period’s

average exchange rate for each currency to the U.S. dollar and excludes the impact of gains and losses on effective currency hedges recognized in revenue for applicable

periods.

TOTAL COMPANY

Q3 FY11

Q4 FY11

Q1 FY12

Q2 FY12

Q3 FY12

Q4 FY12

Q1 FY13

Q2 FY13

Q3 FY13

Q4 FY13

Q1 FY14

Q2 FY14

Reported revenue growth

23%

27%

25%

28%

26%

20%

18%

16%

12%

Currency impact

(1%)

(7%)

(5%)

Revenue growth in constant

currency

22%

20%

28%

25%

23%

17%

12%

Attached files

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