Top 40 distributor Cimpress (asi/162149), parent company of Vistaprint and National Pen, has announced that it increased revenue 32% year-over-year to $762 million during the second quarter of its fiscal year 2018, which ended December 31. On an organic constant currency basis, revenue rose 11% over the same period the prior year, Cimpress said. 

National Pen, a former Top 40 distributor that Cimpress acquired in late 2016, tallied revenue of $126 million during fiscal Q2 2018, documents showed. “On a pro forma basis, revenue grew 28% in constant currencies with strong growth across channels and geographies,” Cimpress said in a letter to investors about National Pen. “This growth was boosted by several factors, including actions taken last fiscal year to improve marketing performance, increased marketing and prospecting activities versus the year-ago period, and a timing-related reduction to quarter-end backlog.”

Significantly, National Pen reported a quarterly profit of $18 million. “Thirteen months following the transaction, we remain pleased with the National Pen acquisition,” said Robert Keane, the founder, CEO and president of Cimpress. 

Meanwhile, Vistaprint – an e-commerce provider of promotional products, printed materials and signage for businesses – also experienced revenue growth. Cimpress reported Vistaprint’s Q2 2018 sales as $429 million, up from $381 million during the comparable three-month period during fiscal 2017. “We saw continued growth in both repeat and new customer bookings, though repeat continued to grow faster, with growth in bookings per customer and a repeat rate which was the highest since 2007,” Cimpress said in its letter to investors.

Notably, Vistaprint increased quarterly profits to $99 million – some $32 million more than the same quarter from the prior fiscal year. Profit margin accelerated 540 basis points. “This was driven by a combination of factors in addition to revenue growth, including operating expense savings from our January and November 2017 restructuring initiatives, the non-recurrence of roughly $10 million of production inefficiencies that occurred in the year-ago period, and gross margin gains in some of our newer product lines,” Cimpress stated. 

According to earnings data, Cimpress’ company-wide quarterly gross profit registered $402 million, up from $300 million during the second quarter of fiscal 2017. Meanwhile, adjusted net operating profit came in at $94 million.

In its latest listing, Counselor ranks Cimpress as the eighth-largest distributor in the industry, based on North American promo product sales.