During the next two weeks, FTD, 1-800-Flowers (FLWS) and ProFlowers (PRVD) will be reporting earnings for FY 2005. These reports will provide glimpses of the current conditions of the companies. FLWS will announce on Thursday, Aug, 11 and PRVD is scheduled for next Tuesday after the market closes. Each will host investor conference calls which are available to the public.
FTD's call is this morning at 10AM Eastern Time and can be heard here: http://biz.yahoo.com/cc/0/58960.html They have released their numbers this morning. The details are telling....
First, the headline spins a 10%+ year-over-year revenue growth but they actually lost $22.6M. After a quick review of the numbers, I see a fairly negative picture. EBITDA (a best-case-scenario number which disregards the IPO costs, Leonard Green 'management buyout' fee, interest exense [which Leonard Green saddled them with] and issuance of even more stock to dilute the value of their initial shares) states a rosy number of $64.4 million - but that's just an 'I wish we didn't have all these expenses 'cuz we'd be doing better if we weren't saddled with all this debt' number. But they do - so they'll have to live with it.
Here are the numbers I think are of most interest to florists:
Total Consumer Direct Sales - 4,073,000 total orders for the year
4th Q (April - June) - $78.0 million
FY '05 - $247.1 million
Operating Income from Consumer Direct Sales
4th Q - $5.2 million
FY '05 - $14.4 million
Total Florist Services
4th Q - $44.6 million (a decrease from last year)
FY '05 - $190.7 million
Operating Income from Florist Services
4th Q - $11.5 million
FY '05 - $50.0 million
Once again, the florists are providing more than 80% of their operating income.
Why are we contuing to fund their marketing efforts aimed at drawing consumers away from our local stores? (Please follow the link and read Rob's excellent post about supporting the competition.)
As they become available, I'll post summaries for the other two companies.
FTD's call is this morning at 10AM Eastern Time and can be heard here: http://biz.yahoo.com/cc/0/58960.html They have released their numbers this morning. The details are telling....
First, the headline spins a 10%+ year-over-year revenue growth but they actually lost $22.6M. After a quick review of the numbers, I see a fairly negative picture. EBITDA (a best-case-scenario number which disregards the IPO costs, Leonard Green 'management buyout' fee, interest exense [which Leonard Green saddled them with] and issuance of even more stock to dilute the value of their initial shares) states a rosy number of $64.4 million - but that's just an 'I wish we didn't have all these expenses 'cuz we'd be doing better if we weren't saddled with all this debt' number. But they do - so they'll have to live with it.
Here are the numbers I think are of most interest to florists:
Total Consumer Direct Sales - 4,073,000 total orders for the year
4th Q (April - June) - $78.0 million
FY '05 - $247.1 million
Operating Income from Consumer Direct Sales
4th Q - $5.2 million
FY '05 - $14.4 million
Total Florist Services
4th Q - $44.6 million (a decrease from last year)
FY '05 - $190.7 million
Operating Income from Florist Services
4th Q - $11.5 million
FY '05 - $50.0 million
Once again, the florists are providing more than 80% of their operating income.
Why are we contuing to fund their marketing efforts aimed at drawing consumers away from our local stores? (Please follow the link and read Rob's excellent post about supporting the competition.)
As they become available, I'll post summaries for the other two companies.
