What is going on with CMPR?
Cimpress plc (CMPR) stock is lower today after the company announced third quarter results for fiscal year 2021, which included year-over-year revenue and gross margin declines. Cimpress also announced plans to raise a Term Loan of $1.15 billion. Shares of CMPR fell 3.29% to $101.52 as of Thursday at 1:31pm.
What does this mean for Cimpress?
Cimpress recorded $579 million in total revenue for the third quarter, a 3% year-over-year decline. The company also reported an operating loss of $16 million, a figure that Cimpress pinned on negative currency impacts. The Term Loan B of $1.15 billion will be used to bring liquidity onto the balance sheet and repay existing debt.
Robert Keane, Founder & CEO, found positive trends amidst the less than stellar numbers, "Amidst the on-going pandemic, we see much reason for optimism. Over the past year, we have demonstrated the variable nature of our cost structure, made permanent cost reductions and managed our liquidity prudently. Our team members answered a call for rapid new product introduction, and we continued to invest organically and inorganically to position our businesses to thrive as we come out of the pandemic."
Cimpress expects to announce its full third quarter fiscal year 2021 financial results on April 28, 2021.
CMPR has an Overall Score of 45. Find out what this means to you and get the rest of the rankings on CMPR!
Cimpress PLC invests in and builds customer-focused, entrepreneurial, mass-customization businesses for the long term. Mass customization seeks to produce goods and services to meet individual customer needs with near mass production efficiency.
