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Monday, Jan 30, 2023
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FTD Not Blooming Yet For United Online

Weak consumer spending and the strengthening U.S. dollar abroad contributed to a weak showing by the FTD Group Inc. in the fourth quarter financial results of its parent company United Online Inc. The fourth quarter was the first full reporting period that FTD results were included in United Online’s earning statement. FTD has retail floral product shops in the U.S., Canada, Britain and Ireland. The Woodland Hills-based internet service and social networking provider reported a net loss of $137.6 million, or $1.68 per diluted share, on revenues of $256.2 million for the quarter ending Dec. 31. For the same period a year ago, the company reported a net income of $14.6 million, or $0.21 per diluted share, on revenues of $125.4 million. For the full year, United Online had a net loss of $94.7 million, or $1.29 per diluted share, on revenues of $669.4 million. For the 2007 fiscal year, the company reported a net income of $57.8 million, or $0.83 per diluted share, on revenues of $513.5 million. The company expects that the weak U.S. and global economies will continue to negatively impact FTD in the near term, said United Online Chairman, President and CEO Mark R. Goldston. “However, we continue to be excited about our new marketing initiatives within the FTD segment and our ability to enhance our competitive position,” Goldston said. Shares in United Online closed down at $4.69. Mark R. Madler

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