FTD Inc. reported that revenues for the first quarter of fiscal 2004 were flat at $73.6 million compared with the same quarter of the prior fiscal year.
This reflected a 15.3% increase in revenues in the consumer business, offset by a 9.3% decrease in revenues in the florist business, according to the Downers Grove, IL-based floral services marketer.
First quarter fiscal 2004 net income was $4.8 million, compared to net income of $5.8 million, in the same quarter of the prior fiscal year. The decrease was primarily due to decreased revenues within the florist segment.
Revenues for the company’s consumer business, including FTD.com, grew $4.3 million to $31.9 million from $27.6 million in the prior year’s quarter. Operating income was $1.6 million compared to $1.0 million in the same quarter of the prior year. Internet orders as a percentage of total orders in the consumer business segment increased to 79.2% in the current quarter from 76.1% in the first quarter of fiscal 2003.
Consumer orders during the quarter ended Sept. 30 totaled approximately 499,000, compared to approximately 451,000 orders in the same quarter of the prior fiscal year. Average order value increased to $63.85 from $61.32 in the prior year’s quarter.
The florist business segment — which primarily markets floral products and services to FTD members and other retailers — reported first quarter revenues of $41.7 million, down from $45.9 million in the prior year’s comparable quarter. Operating income for the florist business decreased to $9.6 million from $13.0 million in the prior year’s quarter.
FTD has 19,400 florist members.
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