1 800 Flowers Com Inc (FLWS) SEC Filing 10-K Annual report for the fiscal year ending Sunday, June 30, 2013

Earnings Press Release
10-K Annual Report
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1 800 Flowers Com Inc
Ticker: FLWS CIK: 1084869

Exhibit 99.1

1-800-FLOWERS.COM, Inc. Reports Financial Results From Continuing Operations For Its Fiscal 2013 Fourth Quarter and Full Year

Full Year Highlights:

Revenues grew 4.0 percent to $735.5 million
Adjusted EBITDA grew 10.2 percent to $48.9 million
Adjusted EPS grew 50.0 percent to $0.24 per fully-diluted share
Company finishes the year with a debt-free balance sheet and cost effective new credit facility

Fourth Quarter Highlights:

Revenues grew approximately 1.4 percent to $173.0 million on a comparable, non-GAAP basis (adjusted for the shift of the Easter holiday into the Company’s fiscal third quarter). On a reported basis, fourth quarter revenues declined 2.5 percent compared with the prior year period.
EBITDA, less stock-based compensation, was $6.3 million compared with $8.6 million in the prior year period, reflecting the impact of the shift of the Easter holiday.
EPS was $0.01 per fully-diluted share compared with $0.03 per fully-diluted share in the prior year period, reflecting the impact of the shift of the Easter holiday.
During the fourth quarter, the Company made the strategic decision to divest its Winetasting.com business. Therefore, the operating results of Winetasting.com are classified as a discontinued operation for all periods presented.

CARLE PLACE, N.Y.--(BUSINESS WIRE)--August 29, 2013--1-800-FLOWERS.COM, Inc. (NASDAQ:FLWS), the world’s leading florist and gift shop, today reported results for its fiscal 2013 fourth quarter and full year. For the year, total revenue from continuing operations increased 4.0 percent to $735.5 million, compared with $707.5 million in fiscal 2012. Gross profit margin from continuing operations for the year increased 10 basis points to 41.5 percent, compared with 41.4 percent in the prior year. Operating expense ratio for the year improved 50 basis points to 38.0 percent of total net sales, compared with 38.5 percent in the prior year. As a result of these factors, Adjusted EBITDA for the year, which excludes stock-based compensation expense and a pre-tax gain of $3.8 million in fiscal 2012 related to the sale of 17 Fannie May company-owned stores, increased $4.5 million, or 10.2 percent, to $48.9 million, compared with $44.3 million in the prior year. Adjusted Net Income from continuing operations for the year increased 43.9 percent to $15.7 million, or $0.24 per fully-diluted share, compared with $10.9 million, or $0.16 per fully-diluted share, in the prior year.

Revenues from continuing operations for the Company’s fourth quarter grew approximately 1.4 percent on a comparable, non-GAAP basis (adjusted for the shift of the Easter holiday which fell in the Company’s third quarter during fiscal 2013 compared with fiscal 2012 when it fell in the Company’s fourth quarter). On a reported basis, fourth quarter revenues declined 2.5 percent to $173.0 million compared with $177.3 million in the prior year period.

Gross margin for the quarter was 41.0 percent, compared with 41.6 percent in the prior year period. Operating expense ratio for the quarter was 40.7 percent of total net sales, compared with 40.1 percent in the prior year period. As a result of these factors, which reflect the impact of the aforementioned Easter shift, for the fourth quarter EBITDA, excluding stock-based compensation expense, was $6.3 million, compared with $8.6 million in the prior year period and net income from continuing operations was $538,000, or $0.01 per fully-diluted share, compared with $1.7 million, or $0.03 per fully-diluted share, in the prior year period.

During the fourth quarter, the Company made the strategic decision to divest its Winetasting.com business to focus on growth opportunities in its Gourmet Foods and Gift Baskets business segment. The Company anticipates completing the divestiture of the Winetasting.com business in fiscal 2014. Therefore, it is classified as a discontinued operation for all periods presented.

Results from discontinued operations for the year were a loss of $3.4 million, or ($0.05) per share, including a loss of $1.5 million, or ($0.02) per share, related to the anticipated loss on divestiture of the business compared with a gain of $4.5 million, or $0.07 per share in the prior year. The prior year’s income from discontinued operations of $4.3 million reflects a gain of $4.5 million resulting from the September, 2011 sale of the Company’s winery services business. For the fourth quarter, results from discontinued operations were a loss of $2.3 million, or ($0.04) per share including the aforementioned loss of $1.5 million, or ($0.02) per share, related to the anticipated loss on divestiture of the Winetasting.com business, compared with income of $100,000 or $0.00 per share in the prior year period.

Consolidated net income for the year was $12.3 million, or $0.19 per share, compared with net income of $17.6 million, or $0.27 per share in the prior year. For the quarter, net loss including discontinued operations was $1.7 million, or ($0.03) per share, compared with net income of $1.8 million, or $0.03 per share in the prior year period.

The following information was filed by 1 800 Flowers Com Inc (FLWS) on Thursday, August 29, 2013 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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