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Provide Commerce purchase hits FTD profit

Downers Grove, Ill. – Net income dropped 14.5% at FTD Inc. to $4.7 million in the second quarter of fiscal 2014 from $5.5 million in the same period the prior year. Costs related to FTD’s planned purchase of Provide Commerce were primarily responsible for the decline in net income.

Consolidated revenues increased 2.3% to $168.1 million for second quarter 2014, compared to $164.3 million in the same period of the prior year. The increase in consolidated revenues in second quarter 2014 was due to increased revenues in the international and florist segments and favorable foreign currency exchange rates, partially offset by lower revenues in the consumer segment.

In addition, FTD received the 2014 Women’s Choice Award seal from WomenCertified Inc. The award recognizes brands that are most recommended by women.

 

© 2014