1-800-Flowers.com Inc. posted net income of $3.3 million fore the third quarter, a 212% surge over $1.1 million in the prior year.
The flowers and gifts direct marketer reported revenue of $219.6 million for the quarter ended March 30, a 2.7% increase over $213.8 million last year.
The Carle Place, NY firm attributed these results to strong growth in its BloomNet wire service business as well as revenues associated with the Easter and Valentine holidays.
Specifically, BloomNet continued to grow at a double digit pace during the quarter, with revenue increasing approximately 21% to $15.4 million and category contribution margin increasing 45% to $5.6 million, according to the company.
In addition, the firm said more than 2 million online customers placed orders during the quarter, of whom approximately 60% were repeat customers
The firm posted a gross profit margin of 40.8% for the quarter, an increase over 40.5% in the prior year. The company attributed this primarily to changes in its product mix.
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