1-800-Flowers posts $1.5M fiscal 4Q profit
CARLE PLACE, N.Y. (AP) — 1-800-Flowers.com reversed a fourth-quarter loss from last year with lower costs offsetting a decline in revenue.
The company posted earnings of $1.5 million, or 2 cents per share and compared with a loss of $8,000, or zero cents per share, in the same quarter last year.
Revenue fell 1.4 percent to $179.6 million from $182.2 million, with consumer sales largely flat at $124 million. Revenue at the company's BloomNet Wire Service rose 1.9 percent to $21.7 million, while sales of gourmet food and gift baskets fell 8.8 percent to $33.9 million, partially as a result of a shift in the Easter holiday.
The profit beat Wall Street predictions, but the revenue fell short. Analysts, on average, expected a profit of 1 cent per share on $185.7 million in revenue.
For the full year, net income rose to $17.3 million, or 26 cents per share, from $5.7 million, or 9 cents per share, in fiscal 2011. Revenue rose to $716.3 million from $671.6 million.
For fiscal 2013, the company said it expects revenue across all three of its businesses to increase, with overall revenue growth in the "mid-single digit range." It also projected a double-digit year-over-year increase in earnings per share.
In midday trading, shares of 1-800-Flowers.com Inc. fell 2 cents to $3.58.