Provide Commerce’s Q1 sales grow 54% to $19.9 million
Fiscal year first quarter sales at San Diego-based Provide Commerce Inc., operators of Proflowers.com, Cherry Moon Farms and Uptown Prime web sites, were up 53.8% to $19.9 million from $13 million in Q1 a year ago, the company reports. Net loss for the quarter was $497,000 vs. a net loss of $2.2 million in the same quarter a year ago. Gross profit increased 66% to $9.3 million from $5.6 million a year ago.
In the quarter, the company added 117,000 new customers, a 30% year-over-year increase compared to 90,000 new customers added in the first quarter a year ago. Repeat customers generated 68.1% of net sales during the quarter, compared to 62.7% in the year-ago quarter. Average order value increased slightly to $46.96 in the first quarter from $46.56 a year ago.
Provide Commerce expects sales for the full year, which will end June 30, 2005, will be $166.5-$169.5 million, with net income between $7.9 million and $8.1 million.
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