M&A activity has blossomed across corporate America, but VistaPrint (NASDAQ:VPRT) doesn't seem interested. The company has posted 27 consecutive quarters of organic revenue growth -- an enviable feat. Happily, its latest earnings report has kept that streak alive.

VistaPrint operates a highly automated website that allows customers to design and print things like brochures, letterhead stationery, and business cards. According to the company, the site processes roughly 21,000 of these orders each day.

VistaPrint's third-quarter revenue increased 67% to $69.3 million, while net income increased 40% to $7.4 million, or $0.16 per share. Cash flow from operations was a juicy $18.5 million, and VistaPrint's got $113 million in the bank.

The company has leveraged its scalable infrastructure to keep its growth moving, launching new products such as pocket-sized self-inking stamps and personalized bank checks. VistaPrint has also established a business services unit, making it easier for firms to better manage their printing needs.

The company enjoys strong competitive advantages, including patented technology and an efficient back-end infrastructure. However, its biggest strength may be its ability to cost-effectively acquire small-business customers. VistaPrint constantly experiments with Internet search engines, email campaigns, and even traditional catalogs to draw in customers as inexpensively as possible.

Thanks to this marketing machine, VistaPrint added 800,000 new customers in the just-completed quarter, for a total of roughly 9 million. With its market size estimated at $16 billion, the company has plenty more room for further organic growth, which should help to keep its shareholders happy.

A short run of further Foolishness:

Fool contributor Tom Taulli, author of The Complete M&A Handbook, does not own shares mentioned in this article. He is currently ranked 1,784 out of 28,166 in CAPS.