Vistaprint NV (NASDAQ:VPRT) Results Should Slightly Exceed Concensus

Based on demand trends and modeling, Needham & Company says they see Vistaprint NV (NASDAQ:VPRT) coming in on the higher end of consensus for the quarter.

Needham said, "We expect Vistaprint to report 2Q FY11 results on or about Thu 1/27 after the close. Based on 1) our analysis of demand trends using our search query index, and on 2) our model work (including FX chgs), we believe 2Q revenues will come in slightly above consensus and at the high-end of guidance, while EPS will be in-line w/ consensus and at the mid-pt of guidance. Likewise, we expect the mid-pt of FY11 to be raised modestly (- 1%). In short, while currency moves have been working slightly against the company in recent wks, search trends suggest a slightly better than expected seasonal lift in demand.

"For 2Q FY11, we forecast revenue, adj. EBITDA, adj. EPS and GAAP EPS of $227MM, $49MM, $0.73 and $0.62, resp. We’re modeling for capex of $20MM."

Needham & Company maintains a "Hold" on Vistaprint NV, which last closed at $45.23, up $0.39, or 0.87 percent.