Shutterfly, Inc. (NASDAQ:SFLY) Files An 8-K Results of Operations and Financial Condition

On April 25, 2017, Shutterfly, Inc. (Shutterfly) issued a press
release announcing its financial results for the first quarter
ended March 31, 2017.

This press release is being furnished as Exhibit 99.1 to this
Current Report on Form 8-K and is incorporated herein by this
reference.

The information in this report, including the exhibit hereto, is
furnished and is not deemed to be filed for purposes of Section
18 of the Securities Exchange Act of 1934 (the Exchange Act) or
otherwise subject to the liabilities of that section. The
information contained herein and in the accompanying exhibit is
not incorporated by reference in any filing of Shutterfly under
the Securities Act of 1933 or the Exchange Act, whether made
before or after the date hereof and irrespective of any general
incorporation language in any filings.

Use of Non-GAAP Financial Information

Shutterfly has supplemented the financial measures contained in
the attached press release that are provided in accordance with
generally accepted accounting principles (GAAP) with non-GAAP
financial measures. Shutterfly believes that these non-GAAP
financial measures provide useful information about its core
operating results and thus are appropriate to enhance the overall
understanding of its past financial performance and its prospects
for the future. These adjustments to Shutterflys GAAP results are
made with the intent of providing both management and investors a
more complete understanding of Shutterflys underlying operational
results and trends and performance. Management uses these
non-GAAP measures to evaluate Shutterflys financial results,
develop budgets, manage expenditures and determine employee
compensation. The methods used by Shutterfly to produce non-GAAP
financial results may differ from the methods used by other
companies. Shutterflys reference to these non-GAAP financial
results should be considered in addition to results that are
prepared under current accounting standards but should not be
considered as a substitute for, or superior to, the financial
results that are presented as consistent with GAAP.
Reconciliation to the nearest GAAP financial measures of the
non-GAAP financial measures is included in the press release
attached hereto as Exhibit 99.1.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.