1-800-Flowers.com Inc.'s net income grew 51 percent in the last quarter thanks to successful customer retention and acquisition, the company said yesterday.
1-800-Flowers.com said it earned $8.3 million in its fiscal fourth quarter ending June 29. This was up from $5.5 million in the year-ago period.
Revenue for the quarter rose 10 percent to $154.8 million from $140.3 million a year ago. Online orders were up 22.9 percent to $84.1 million, but telephone sales fell 2.3 percent to $62.3 million. Rising online orders means lower costs for the company.
1-800-Flowers.com, Westbury, NY, said fiscal 2003 revenue climbed 14 percent to $565.6 million from $497.2 million the previous year. Net income was $12.2 million, a vast improvement from a loss of $1.5 million in fiscal 2002.
In fiscal 2003, the company attracted 3.1 million new customers, up slightly from 3 million the year before.
The company expects to narrow its loss in the fiscal first quarter, typically its slowest period for the lack of any major gift-giving holidays July through September.