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1-800 Flowers.Com second-quarter profit jumps

1-800 Flowers.Com (FLWS), provider of gifts for every occasion, including fresh flowers and the finest selection of plants, gift baskets, gourmet foods, confections, candles, balloons and plush stuffed animals, has reported a 153.90 percent jump in profit for the quarter ended Dec. 28, 2014. The company has earned $45.77 million, or $0.68 a share in the quarter, compared with $18.03 million, or $0.27 a share for the same period last year.
Revenue during the quarter surged 100.60 percent to $534.28 million from $266.34 million in the previous year period. Gross margin for the quarter expanded 333 basis points over the previous year period to 45 percent. Total expenses were 85.99 percent of quarterly revenues, down from 89.22 percent for the same period last year. This has led to an improvement of 323 basis points in operating margin to 14.01 percent.

Operating income for the quarter was $74.83 million, compared with $28.70 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at $100.74 million compared with $34.88 million in the prior year period. At the same time, adjusted EBITDA margin improved 576 basis points in the quarter to 18.86 percent from 13.10 percent in the last year period.

Jim McCann, ceo of 1-800-FLOWERS.COM, said, “During the fiscal second quarter, we more than doubled our revenues and tripled our bottom line results year-over-year, reflecting contributions from our Harry & David brand, which we acquired at the start of the period. Importantly, we also achieved top-line growth of nearly 5 percent across all three of our business segments.”

The Company reiterated its guidance for Fiscal 2015 which includes contributions from the addition of the Harry & David business which the Company acquired on September 30, 2014. The Company anticipates generating total net revenues from continuing operations in excess of $1.1 billion for fiscal 2015. The Company anticipates generating Adjusted EBITDA of approximately $90 million for fiscal 2015. Adjusted EPS for the year is expected to be in a range of $0.45-to-$0.50 per diluted share.

Operating cash flow improves significantly

1-800 Flowers.Com has generated cash of $178.20 million from operating activities during the first half, up 899.45 percent or $160.37 million, when compared with the last year period.

The company has spent $147.40 million cash to meet investing activities during the first six months as against cash outgo of $11.21 million in the last year period.

Cash flow from financing activities was $65.22 million for the first six months as against cash outgo of $3.52 million in the last year period. It has made net debt repayment of $73.89 million. It has spent net of $3.22 million on repurchase of common stocks.

Cash and cash equivalents stood at $101.22 million as on Dec. 28, 2014, up 3,004.91 percent or $97.96 million from $3.26 million on Dec. 29, 2013.

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