Private investment firm Comvest Partners acquires the financially troubled e-retailer, which filed for Chapter 11 bankruptcy protection in March.
Revenues at FTD.com in fiscal Q2 grew 32% to $48.7 million from $36.8 million a year ago. Operating income reached $1.7 million vs. $400,000 in the prior year`s second quarter.
Revenues at FTD.com in the company’s fiscal Q2 grew 32% to $48.7 million from $36.8 million in Q2 of the prior year, FTD Inc. reported today. The division had operating income of $1.7 million vs. $400,000 in the prior year`s second quarter.
FTD Inc.’s total revenue for the second quarter was $88.8 million, an increase of 16.3% from $76.3 million reported in the same quarter of the prior fiscal year. Q2 net income increased 77% to $3.3 million from $1.9 million a year earlier.
FTD.com’s Q2 orders reached 821,000 compared to 624,000 a year earlier. Average order value remained flat. The increase in order volume was the result of growth through marketing alliances and the acquisition last October of Flowers USA and other recent acquisitions, the company reported.
Specialty gifts accounted for 21% of Q2 orders compared to 15.4% of total orders a year ago. FTD also reported that its recent partnership with fruit gift company Harry & David contributed growth in specialty gift products.