Notice: Undefined variable: fileR in
/me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line
17
Notice: Undefined variable: fileR in
/me/beta.myiris.com/htdocs/newsCentre/bin/addLinksNew.php on line
142
FTD Companies Inc (FTD) saw its loss widen to $86.45 million, or $3.17 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $82.56 million, or $2.92 a share. On an adjusted basis, net profit for the quarter was $13.26 million, when compared with $15.20 million in the last year period. Revenue during the quarter dropped 5.59 percent to $280.67 million from $297.27 million in the previous year period. Gross margin for the quarter expanded 79 basis points over the previous year period to 38.69 percent. Operating margin for the quarter stood at negative 31.85 percent as compared to a negative 27.25 percent for the previous year period.
Operating loss for the quarter was $89.40 million, compared with an operating loss of $81.02 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $29.78 million compared with $31.30 million in the prior year period. At the same time, adjusted EBITDA margin improved 8 basis points in the quarter to 10.61 percent from 10.53 percent in the last year period.
John C. Walden, FTD's president and chief executive officer, said, “I am only two weeks into my role with FTD but I am excited to be leading the Company at this interesting time in its long history. Although I believe the Company has recently performed below its potential, it has several assets to build upon - strong brands, reliable partners including our member florists, and financial flexibility. With an innovative and ambitious new strategy, I believe FTD can extend its leadership in the floral and gifting industry and restore growth. I look forward to undertaking this challenge with the FTD team.”
For financial year 2017, FTD Companies projects net income to be in the range of $10 million to $15 million.
Operating cash flow declines
FTD Companies Inc has generated cash of $75.09 million from operating activities during the year, down 8.10 percent or $6.62 million, when compared with the last year. The company has spent $16.56 million cash to meet investing activities during the year as against cash outgo of $28.19 million in the last year.
The company has spent $35.99 million cash to carry out financing activities during the year as against cash outgo of $90.69 million in the last year period.
Cash and cash equivalents stood at $81 million as on Dec. 31, 2016, up 39.92 percent or $23.11 million from $57.89 million on Dec. 31, 2015.
Debt comes down
FTD Companies Inc has recorded a decline in total debt over the last one year. It stood at $276.31 million as on Dec. 31, 2016, down 6.32 percent or $18.64 million from $294.95 million on Dec. 31, 2015. Total debt was 28.71 percent of total assets as on Dec. 31, 2016, compared with 26.18 percent on Dec. 31, 2015. Debt to equity ratio was at 0.65 as on Dec. 31, 2016, up from 0.54 as on Dec. 31, 2015.
Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
