Acquisition drives up FTD's 2Q revenues

DOWNERS GROVE - The acquisition of Provide Commerce last December helped drive FTD Companies' second quarter revenues up by almost $200 million.

Consolidated revenues were $365.8 million for the second quarter, compared to $168.1 million for the same period last year. In addition to the acquisition of Provide Commerce, revenues in the company's consumer, florist and international segments were also up for the quarter.

Net income for the quarter was $17.8 million, compared to $4.7 million last year.

"Our strong second quarter profitability reflects the improved operational and financial disciplines we have applied to our Provide Commerce segment in the six months since the closing of the acquisition," said FTD President and Chief Executive Officer Robert S. Apatoff.

"We continue to make solid progress on our integration efforts as we execute against our strategic initiatives and focus on profitably growing our premier family of brands. We remain very excited about our future as we continue to focus on driving shareholder value," Apatoff added.

Adjusted Net Income for the second quarter of 2015 was $25.5 million, compared to $11.3 million for the same period of the prior year. The increase in Adjusted Net Income was largely due to the addition of the Provide Commerce segment. Adjusted Net Income excludes the after-tax impact of stock-based compensation, amortization, transaction-related costs, litigation and dispute settlement charges, and restructuring and other exit costs.

FTD's consumer segment revenues for the second quarter increased 1.7 percent to $97.7 million, compared to $96.1 million in the second quarter of 2014. It's florist Segment revenues increased 3.5 percent to $43.2 million, compared to $41.7 million in the second quarter of 2014, while the international segment revenues for the second quarter of 2015 were $33.9 million, compared to $35.8 million in the second quarter of 2014.