The first quarter numbers are out.
Consumer Direct sales for North America were up $5.8M with income up primarily from "the addition of advertising revenue (which commenced in December 2005) and a decrease in marketing cost per order during the current year period." (Is that the previously discussed ad program from Webloyalty.com?)
Revenues from the Domestic Florist segment was down slightly - and blamed yet again on the sale of Renaissance greeting cards.) Income from the segment is up substantially - primarily due to a significant drop in advertising and selling expenses.
Telling numbers:
- Accounts receivable increased from $26M to $45M between June 30 & Sept. 30.
- As of September 30, 2006 the Company's debt balance totaled $349.5 million, including notes payable of $23.3 million related to the Interflora acquisition, up from $220.1 million as of June 30, 2006.
- The value of the Trademarks and Goodwill on the Balance Sheet just keeps rising:
Trademark - 9/30/06 - $184,471 6/30/06 - $121,577
Goodwill - 9/30/06 - $414,176 6/30/06 - $336,659
FTD did purchase Interflora for $121M during the period but they've booked the increased 'value' at $140M. Trademark and Goodwill represent almost 80% of FTD's assets.
No mention in the report of florist numbers or grocery store numbers.
Conference call today at 7 am Eastern.
Consumer Direct sales for North America were up $5.8M with income up primarily from "the addition of advertising revenue (which commenced in December 2005) and a decrease in marketing cost per order during the current year period." (Is that the previously discussed ad program from Webloyalty.com?)
Revenues from the Domestic Florist segment was down slightly - and blamed yet again on the sale of Renaissance greeting cards.) Income from the segment is up substantially - primarily due to a significant drop in advertising and selling expenses.
Telling numbers:
- Accounts receivable increased from $26M to $45M between June 30 & Sept. 30.
- As of September 30, 2006 the Company's debt balance totaled $349.5 million, including notes payable of $23.3 million related to the Interflora acquisition, up from $220.1 million as of June 30, 2006.
- The value of the Trademarks and Goodwill on the Balance Sheet just keeps rising:
Trademark - 9/30/06 - $184,471 6/30/06 - $121,577
Goodwill - 9/30/06 - $414,176 6/30/06 - $336,659
FTD did purchase Interflora for $121M during the period but they've booked the increased 'value' at $140M. Trademark and Goodwill represent almost 80% of FTD's assets.
No mention in the report of florist numbers or grocery store numbers.
Conference call today at 7 am Eastern.
