RealTime IT News

The Little Flower Company That Could

Online florist FTD.com, reporting results on the same day as Amazon.com, beat the giant by a mile, posting net second fiscal quarter (ending Dec. 31) earnings of $3.3 million, or seven cents per share fully diluted.

The Downers Grove, Ill-based little flower company that could said its second quarter revenues grew 24 percent to $40.4 million, compared with $32.5 million in the same quarter a year ago.

Net income was $3.3 million, or seven cents per share, compared to net income of $1.8 million, or 4 cents per share, excluding a previously reported one-time gain of $500,000, in the same quarter of the prior fiscal year. Amazon reported its first real profit for the quarter ending Dec. 31, earning 1 cent a share fully diluted (GAAP).

"Despite a weak retail environment, FTD.COM continues to achieve strong revenue growth, coupled with improved margins," said Michael Soenen, president and CEO of FTD.COM.

Second fiscal quarter orders totaled approximately 624,000 for FTD.com, with an average order value of $58.93, compared to approximately 514,000 orders in the same quarter of the prior fiscal year, with an average order value of $57 per order.

The company said it was able to reduce its marketing cost per order by 8 percent to $7.67 per order for the second quarter of fiscal 2002, from $8.30 per order a year ago.

As previously announced, FTD.com acquired National Flora Inc. in the second quarter of fiscal 2002. National Flora is a direct marketer that provides same-day delivery of floral arrangements, plants, balloon bouquets, fruit and gift baskets and chocolates.