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Provide Commerce expects to show its first profit on sales of $22 to $23 million according to preliminary figures for its fiscal Q2. Driving sales were repeat customers and a winter catalog.
Provide Commerce Inc., the company that grew out of web floral company Proflowers.com, has announced preliminary second quarter results representing the first profitable holiday quarter in the five year-old company’s history. Provide Commerce reports that it expects net income for its second fiscal quarter to be from $50,000 to $150,000, on net sales expected to be between $22 million and $23 million. That compares with $16.4 million in revenue generated in the same quarter last year.
Based on current trends, Provide Commerce also announced it expects sales for the year ahead to be in the range of $120 million to $130 million. “During the three months, our core floral business was fueled by the strong performance of our repeat customer base, although we were able to attract a significant number of new customers in a cost-effective manner,” says CEO Bill Strauss. “The introduction of our winter catalog also contributed to second quarter gains.”
In addition to utilizing its direct-from-the-grower model developed for the Proflowers.com flower site it continues to operate, Provide Commerce also offers premium meat and fresh fruit direct from suppliers to its customers at UptownPrime.com and CherryMoonFarms.com.