FTD stock jumps on unexpectedly strong earnings
(Reuters) — Shares of FTD Group Inc. shot up more than 14 percent on Wednesday after the company's quarterly earnings beat analysts' expectations by a wide margin.
The flower company said it expects its 2007 results to gain significantly from Interflora Holdings Ltd., which it acquired for $121 million to expand its base in Europe.
FTD reported fourth-quarter earnings of 30 cents a share, compared with 18 cents a share in the year-ago period.
Its revenue rose 15.4 percent to $141.5 million.
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Analysts had expected the company to earn 24 cents a share, excluding items, on revenue of $134.9 million, according to Reuters Estimates.
For fiscal 2007, the company expects earnings of 91 cents a share on revenue of about $630 million.
Analysts have forecast earnings of 88 cents a share, before items, on revenue of $516.5 million for the year.
Shares of the company rose 14.46 percent to $15.99 in morning trade on the New York Stock Exchange.
