1-800-FLOWERS.COM, Aetna Inc. And Fresh Del Monte Produce Release Earnings
Internet floral and gift company 1-800-FLOWERS.COM (NASDAQ:FLWS) released its first-quarter 2014 earnings results this morning. The company reported revenue growth from continuing operations of 2.9 percent to $123.0 million for its first-quarter, compared with revenues of $119.6 million in the same quarter in 2012. Gross margin from continuing operations increased 40 basis points to 41.7 percent, highlighted by a 340 basis point improvement in the BloomNet segment. Growth was also driven by its Gourmet Food and Gift Baskets division, which increased revenues 15.1 percent to $31.2 million. EBITDA showed a loss of $1.3 million compared with a loss of $0.8 million in the same quarter in 2012. EPS was unchanged compared with the prior year period at a loss of $0.07 per share.
Jim McCann, CEO of 1-800-FLOWERS.COM, said, “The revenue growth we achieved in our first quarter reflected a number of factors that we believe bode well for the current fiscal second quarter, which includes the key holiday season, and our full fiscal year. In particular, we saw a continuation of the rebound in our mass market gift baskets business with both increased order volumes and an expanding customer base.”
Shares in the company had gained 7.5 percent at close of trading yesterday.
Membership revenue was the driver behind healthcare insurer Aetna Inc.’s (NYSE:AET) 4 percent increase in earnings for its third-quarter. The company reported earnings of $561.8 million, an increase of 7 percent over the same period last year. Third-quarter operating earnings per share came in at $1.50, compared to $1.55 in 2012. Net income for the period was $518.6 million, or $1.38 per share. This includes $.09 per share of integration related costs and $.03 per share of net realized capital losses.
“Aetna’s diversified business model produced another solid performance in the third quarter, which includes our first full quarter of results from the Coventry operations,” said Mark T. Bertolini, Aetna chairman, CEO and president. “Bolstered by the acquisition and continued strong performance in our Commercial and Medicaid businesses, Aetna generated higher operating earnings and operating revenues year over year. As we look to the final quarter of 2013, we continue to project strong year-over-year performance.”
Shares were down in after hours trading on Monday by 0.45 percent.
Fresh Del Monte Produce Inc. (NYSE:FDP) reported earnings per diluted share of $0.11 for the Q3 of 2013, compared with earnings per diluted share of $0.40 in the third-quarter of 2012. Aside from asset impairment and other charges, earnings per diluted share were $0.09 in the third quarter of 2013, compared with $0.45 in the same quarter last year. Net sales for Q3 were $861.1 million, compared with $788.8 million in the prior year. Gross profit was down to $53 million compared with $75.2 million in the same quarter in 2012. The company attributed the negative impact to unfavorable foreign exchange rates and higher costs.
“We are pleased to report that our strong top line growth and forward momentum continued in the third quarter of 2013, in what is traditionally our most challenging quarter,” said Mohammad Abu-Ghazaleh, Chairman and Chief Executive Officer. “During the quarter, we made impressive strides in increasing our global customer relationships. We experienced growth in all major markets as we strove to capitalize on our position as a leader in the global produce industry. However, our progress was limited by an industry-wide oversupply of bananas, increases in logistic and fruit costs, as well as unfavorable year-over-year exchange rates.”
Disclosure: The author has no position in the stocks mentioned in this article, and does not intend to initiate any position in the next 48 hours.