In its second-largest acquisition, Amazon buys the company for $970 million.
FTD’s domestic consumer web sales dropped by 2.6% to about $40.6 million in the first quarter of fiscal 2008. The web accounted for about 89% of U.S. consumer segment sales vs. about 88% in Q1 of 2007.
U.S. consumers ordered fewer flowers online and by phone at FTD Group Inc. in the first quarter of fiscal 2008.
For Q1, FTD’s domestic consumer web sales dropped by 2.6% to about $40.6 million from about $41.7 in Q1 of fiscal 2007. Overall consumer web sales also declined year over year from to $45.7 million from $47.4 million. The web accounted for about 89% of FTD’s domestic consumer segment sales vs. about 88% in Q1 of fiscal 2007. The average domestic order in Q1 was $63.36, compared with $60.52 in the prior year.
Despite the moderate drop in U.S consumer revenue, FTD, No. 14 in the Internet Retailer Top 500 Guide, reported net income of $8.2 million on sales of $123.7 million in Q1, compared with net income of $5.4 million on revenue of $108.8 million in the first quarter of fiscal 2007.
"We are pleased with our first quarter performance," says FTD CEO Michael J. Soenen. "We were able to effectively manage revenue performance and marketing expenses across our domestic and international businesses.”