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FTD Group Q1 Profit Rises On Higher Revenues; Raises FY08 Guidance - Update [FTD]
11/9/2007 12:41:59 PM Friday, FTD Group, Inc. (FTD), a floral and specialty gift products and services provider, announced first quarter financial results, reporting a net income that increased from the prior year quarter on higher revenues. The company has also raised its outlook for fiscal 2008.
The Downers Grove, Illinois-based company's first quarter net income increased to $8.16 million from $5.44 million in the prior year. On a per share basis, earnings rose to $0.28 per share from $0.18 per share in the same quarter a year ago. The company said the recent quarter net income included $0.05 earnings per share benefit the company got as a result of an enacted tax rate change in the U.K.
Analysts polled by First Call/Thomson Financial estimated earnings of $0.21 per share for the quarter.
Quarterly revenues were $123.75 million, up 13.8% from $108.77 million in the same quarter a year ago. Wall Street analysts expected the company to post revenues of $121.12 million for the quarter.
Total gross profit grew to $52.58 million from $48.35 million last year. The company's total income from operations during the first quarter increased to $16.85 million from $15.37 million in the year ago quarter.
FTD Group's cash and cash equivalents were $13.68 million as of September 30, 2007, compared to $25.46 million as of June 30, 2007.
Outlook - 2008
Looking forward, the company has reaffirmed its fiscal 2008 guidance. Accordingly, the company expects fiscal 2008 net income of $37.10 million or $1.23 per share following the tax rate change in the U.K. enacted during the first quarter of fiscal 2008. The company anticipates revenue target of approximately $645.00 million for fiscal 2008.
Street analysts expect the company to record earnings of $1.18 per share on revenues of $645.50 million for fiscal 2008.
FTD is currently quoting at $13.59, up $1.00 or 7.94%, on a volume of 283,100 shares on the NYSE.
http://www.rttnews.com/sp/breakingnews.asp?date=11/09/2007&item=117
11/9/2007 12:41:59 PM Friday, FTD Group, Inc. (FTD), a floral and specialty gift products and services provider, announced first quarter financial results, reporting a net income that increased from the prior year quarter on higher revenues. The company has also raised its outlook for fiscal 2008.
The Downers Grove, Illinois-based company's first quarter net income increased to $8.16 million from $5.44 million in the prior year. On a per share basis, earnings rose to $0.28 per share from $0.18 per share in the same quarter a year ago. The company said the recent quarter net income included $0.05 earnings per share benefit the company got as a result of an enacted tax rate change in the U.K.
Analysts polled by First Call/Thomson Financial estimated earnings of $0.21 per share for the quarter.
Quarterly revenues were $123.75 million, up 13.8% from $108.77 million in the same quarter a year ago. Wall Street analysts expected the company to post revenues of $121.12 million for the quarter.
Total gross profit grew to $52.58 million from $48.35 million last year. The company's total income from operations during the first quarter increased to $16.85 million from $15.37 million in the year ago quarter.
FTD Group's cash and cash equivalents were $13.68 million as of September 30, 2007, compared to $25.46 million as of June 30, 2007.
Outlook - 2008
Looking forward, the company has reaffirmed its fiscal 2008 guidance. Accordingly, the company expects fiscal 2008 net income of $37.10 million or $1.23 per share following the tax rate change in the U.K. enacted during the first quarter of fiscal 2008. The company anticipates revenue target of approximately $645.00 million for fiscal 2008.
Street analysts expect the company to record earnings of $1.18 per share on revenues of $645.50 million for fiscal 2008.
FTD is currently quoting at $13.59, up $1.00 or 7.94%, on a volume of 283,100 shares on the NYSE.
http://www.rttnews.com/sp/breakingnews.asp?date=11/09/2007&item=117
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