Cimpress N.V. announced unaudited consolidated earnings results for the second quarter and six months ended December 31, 2014. For the quarter, revenue was $439,905,000 compared to $370,807,000 a year ago. Income from operations was $59,888,000 compared to $52,522,000 a year ago. Income before income taxes and loss in equity interests were $66,712,000 compared to $47,747,000 a year ago. Net income attributable to company was $63,609,000 or $1.89 diluted per share compared to $40,875,000 or $1.18 diluted per share a year ago. Net cash provided by operating activities was $138,224,000 compared to $95,027,000 a year ago. Purchases of property, plant and equipment was $18,268,000 compared to $24,592,000 a year ago. Purchases of intangible assets were $60,000 compared to $44,000 a year ago. Capitalization of software and website development costs were $3,910,000 compared to $2,605,000 a year ago. Non-GAAP adjusted net income was $72,098,000 or $2.12 diluted per share compared to $52,662,000 or $1.50 diluted per share a year ago. Free cash flow was $115,986,000 compared to $67,786,000 a year ago.

For the six months, revenue was $773,837,000 compared to $645,896,000 a year ago. Income from operations was $76,747,000 compared to $60,931,000 a year ago. Income before income taxes and loss in equity interests were $92,361,000 compared to $49,753,000 a year ago. Net income attributable to company was $87,303,000 or $2.62 diluted per share compared to $41,287,000 or $1.20 diluted per share a year ago. Net cash provided by operating activities was $190,844,000 compared to $94,904,000 a year ago. Purchases of property, plant and equipment was $34,952,000 compared to $42,169,000 a year ago. Purchases of intangible assets were $145,000 compared to $119,000 a year ago. Capitalization of software and website development costs were $7,449,000 compared to $4,419,000 a year ago. Non-GAAP adjusted net income was $100,869,000 or $2.98 diluted per share compared to $68,769,000 or $1.96 diluted per share a year ago. Free cash flow was $148,298,000 compared to $48,197,000 a year ago. Part of the significant year-over-year growth in GAAP net income is due to below-the-line currency movements that created losses in the year-ago period but gains in the current period.

For fiscal 2015, the company expects revenue of approximately $1,430 million to $1,470 million, or 13% to 16% growth year over year in reported terms and 17% to 20% growth on a constant-currency basis. The company expects GAAP net income per diluted share of approximately $2.00 to $2.30, which assumes 33.6 million weighted average diluted shares outstanding. The company expects fiscal 2015 GAAP net income to benefit from strong year-to-date operational performance. The company expects non-GAAP adjusted net income per diluted share of approximately $3.80 to $4.10, which excludes expectations for the following items inclusive of their tax effects: Acquisition-related amortization of intangible assets of approximately $22.2 million or approximately $0.65 per diluted share. Share-based compensation expense of approximately $21.7 million or approximately $0.64 per diluted share. The change in fair-value estimate of acquisition-related earn-outs of approximately $7.4 million or approximately $0.22 per diluted share. The company expects depreciation and amortization expense to be approximately $95 million to $100 million.

In 2015, the company expects to invest about $20 million to build a new manufacturing facility in Japan as part of joint venture there and about $20 million in the expansion of product lines and other new manufacturing capabilities.