CafePress CEO Bob Marino Retires; Co-Founder Returns As CEO; Backs Q2 Outlook

(RTTNews) - CafePress Inc. (PRSS) announced the retirement of Bob Marino, the company's Chief Executive Officer and a member of the Board of Directors. Marino will serve as a consultant to the company through the end of 2014.

Fred Durham, III, co-founder will return in the role of CEO effective immediately. Co-founder Maheesh Jain, is also rejoining the company as Chief Marketing Officer.

Durham and Jain co-founded CafePress in 1999 in Durham's garage in San Leandro, California. Durham served as CEO until April of 2011, when he was succeeded by Mr. Marino. Durham has served as a member of the Board of Directors since August 1999.

The company also announced that Garett Jackson, current Interim Chief Financial Officer, has been named Chief Financial Officer.

Additionally, the company reaffirmed its financial guidance for the second quarter 2014 as stated in its earnings press release issued on May 14, 2014.

The company said in May that it expected GAAP net loss per share for the second quarter of 2014 to be in the range of $0.25 - $0.31, Non-GAAP net loss per share of $0.08 - $0.14, GAAP net loss of $4.3 million - $5.3 million, and net revenues of $48.0 million - $52.0 million. Analysts polled by Thomson Reuters expect the company to report a loss of $0.10 per share and revenues of $50.10 million for the second-quarter. Analysts' estimates typically exclude special items.