FTD reports slight drop in 3Q revenue

DOWNERS GROVE - FTD Companies reported a slight decrease in third quarter 2016 revenues as the global floral and gift company was negatively affected by foreign currency exchange rates.

The company reported consolidated revenues of $173.2 million for quarter, compared to $188.5 million for the third quarter of 2015. The decrease was driven by a decrease in revenues in the consumer and provide commerce segments, partially offset by an increase in revenues in the International segment, excluding foreign currency fluctuations, the company said.

FTD's Interim President and Chief Executive Officer Christopher W. Shean noted that despite the lower numbers, the company showed improvement in operating income as a result of cost management systems in place.

"With our combination of world class brands and a talented management team, we believe that we are well positioned to more aggressively pursue growth strategies across our floral and gifting businesses," Shean said. "As part of our strategies, we intend to strengthen and differentiate the market positions of ProFlowers as a leader in providing consumers with great value, fresh flowers, and FTD as a leader in premium flowers, celebrating the artistry of our member florists. Our goal is to achieve the appropriate balance between revenue growth and profitability through our strategic initiatives."