1800 FLOWERS.COM Inc. (FLWS, Financial) filed Quarterly Report for the period ended 2009-09-27.
1-800-FLOWERS.COM Inc. is a leading e-commerce provider of floral productsand gifts in terms of number of customers and revenue. With the development of the company's online business and a strategic acquisition they have continuously expanded their product offerings most recently to include gourmet foods and home and garden merchandise. As a result the company has developed relationships with customers who purchase products not only for gifting occasions but also for everyday consumption. 1800 Flowers.com Inc. has a market cap of $190.4 million; its shares were traded at around $3 with a P/E ratio of 100 and P/S ratio of 0.3. 1800 Flowers.com Inc. had an annual average earning growth of 19.6% over the past 5 years.
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and accrued expenses $49,170 $53,460
Current maturities of long-term debt and obligations under capital leases 52,222 22,337
Current liabilities of discontinued operations 3,752 2,633
- -
Total current liabilities 105,144 78,430
Long-term debt and obligations under capital leases 64,061 70,518
Other liabilities 2,546 2,091
Non-current liabilities of discontinued operations 1,306 1,334
- -
Total liabilities 173,057 152,373
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued - -
Class A common stock, $.01 par value, 200,000,000 shares authorized 31,744,449
and 31,730,404 shares issued at September 27, 2009 and June 28, 2009,
respectively 317 317
Class B common stock, $.01 par value, 200,000,000 shares authorized 42,138,465
shares issued at September 27, 2009 and June 28, 2009 421 421
Additional paid-in capital 282,300 281,247
Retained deficit (123,531) (116,256)
Accumulated other comprehensive loss, net of tax (279) -
Treasury stock, at cost - 5,122,225 Class A shares and 5,280,000 Class B shares (31,946) (31,946)
- -
Total stockholders' equity 127,282 133,783
- -
Total liabilities and stockholders' equity 300,339 286,156
= =
The following table summarizes stock option activity during the three months
ended September 27, 2009:
Weighted
Weighted Average
Average Remaining Aggregate
Exercise Contractual Intrinsic
Options Price Term Value (000s)
-
Outstanding at June 28,2009 8,916,672 $7.52
Granted 125,000 $2.87
Exercised - -
Forfeited/expired (604,647) $18.35
-
Outstanding at September 27, 2009 8,437,025 $6.67 4.0 years $631
=
Options vested or expected to vest at
September 27, 2009 8,183,667 $6.76 3.8 years $540
Exercisable at September 27, 2009 6,166,907 $7.51 2.8 years $9
Balance at June 28, 2009 $5,728 $- $35,477 $41,205
Acquisition Adjustment - - 28 28
- - - -
Balance at September 27, 2009 $5,728 $- $35,505 $41,233
= = = =
9
Intangible assets with
determinable lives
Investment in licenses 14 - 16 years $5,314 $4,942 $372 $5,314 $4,823 $491
Customer lists 3 - 10 years 15,695 5,198 10,497 15,695 4,673 11,022
Other 5 - 8 years 2,388 1,058 1,330 2,388 960 1,428
- - - - - -
23,397 11,198 12,199 23,397 10,456 12,941
Trademarks with
indefinite lives - 29,881 - 29,881 29,881 - 29,881
- - - - - -
Total identifiable
intangible assets $53,278 $11,198 $42,080 $53,278 $10,456 $42,822
= = = = = =
Future estimated amortization expense is as follows: remainder of fiscal 2010 -
$2.3 million, fiscal 2011 - $2.3 million, fiscal 2012 - $1.6 million, and fiscal
2013 - $1.5 million, and thereafter - $4.5 million.
Read the The complete Report
1-800-FLOWERS.COM Inc. is a leading e-commerce provider of floral productsand gifts in terms of number of customers and revenue. With the development of the company's online business and a strategic acquisition they have continuously expanded their product offerings most recently to include gourmet foods and home and garden merchandise. As a result the company has developed relationships with customers who purchase products not only for gifting occasions but also for everyday consumption. 1800 Flowers.com Inc. has a market cap of $190.4 million; its shares were traded at around $3 with a P/E ratio of 100 and P/S ratio of 0.3. 1800 Flowers.com Inc. had an annual average earning growth of 19.6% over the past 5 years.
Highlight of Business Operations:
Liabilities and stockholders' equity
Current liabilities:
Accounts payable and accrued expenses $49,170 $53,460
Current maturities of long-term debt and obligations under capital leases 52,222 22,337
Current liabilities of discontinued operations 3,752 2,633
- -
Total current liabilities 105,144 78,430
Long-term debt and obligations under capital leases 64,061 70,518
Other liabilities 2,546 2,091
Non-current liabilities of discontinued operations 1,306 1,334
- -
Total liabilities 173,057 152,373
Commitments and contingencies
Stockholders' equity:
Preferred stock, $.01 par value, 10,000,000 shares authorized, none issued - -
Class A common stock, $.01 par value, 200,000,000 shares authorized 31,744,449
and 31,730,404 shares issued at September 27, 2009 and June 28, 2009,
respectively 317 317
Class B common stock, $.01 par value, 200,000,000 shares authorized 42,138,465
shares issued at September 27, 2009 and June 28, 2009 421 421
Additional paid-in capital 282,300 281,247
Retained deficit (123,531) (116,256)
Accumulated other comprehensive loss, net of tax (279) -
Treasury stock, at cost - 5,122,225 Class A shares and 5,280,000 Class B shares (31,946) (31,946)
- -
Total stockholders' equity 127,282 133,783
- -
Total liabilities and stockholders' equity 300,339 286,156
= =
The following table summarizes stock option activity during the three months
ended September 27, 2009:
Weighted
Weighted Average
Average Remaining Aggregate
Exercise Contractual Intrinsic
Options Price Term Value (000s)
-
Outstanding at June 28,2009 8,916,672 $7.52
Granted 125,000 $2.87
Exercised - -
Forfeited/expired (604,647) $18.35
-
Outstanding at September 27, 2009 8,437,025 $6.67 4.0 years $631
=
Options vested or expected to vest at
September 27, 2009 8,183,667 $6.76 3.8 years $540
Exercisable at September 27, 2009 6,166,907 $7.51 2.8 years $9
Balance at June 28, 2009 $5,728 $- $35,477 $41,205
Acquisition Adjustment - - 28 28
- - - -
Balance at September 27, 2009 $5,728 $- $35,505 $41,233
= = = =
9
Intangible assets with
determinable lives
Investment in licenses 14 - 16 years $5,314 $4,942 $372 $5,314 $4,823 $491
Customer lists 3 - 10 years 15,695 5,198 10,497 15,695 4,673 11,022
Other 5 - 8 years 2,388 1,058 1,330 2,388 960 1,428
- - - - - -
23,397 11,198 12,199 23,397 10,456 12,941
Trademarks with
indefinite lives - 29,881 - 29,881 29,881 - 29,881
- - - - - -
Total identifiable
intangible assets $53,278 $11,198 $42,080 $53,278 $10,456 $42,822
= = = = = =
Future estimated amortization expense is as follows: remainder of fiscal 2010 -
$2.3 million, fiscal 2011 - $2.3 million, fiscal 2012 - $1.6 million, and fiscal
2013 - $1.5 million, and thereafter - $4.5 million.
Read the The complete Report
