Provide Commerce, Inc. Announces Preliminary Unaudited Fiscal Fourth Quarter Net Sales and Earnings; Mark Sottosanti Named Gener
05 Agosto 2005 - 8:30AM
Business Wire
Provide Commerce, Inc. (Nasdaq:PRVD), an e-commerce marketplace of
websites for perishable goods, today announced preliminary
unaudited net sales and GAAP and pro forma earnings for its fiscal
fourth quarter ended June 30, 2005 and the appointment of Mark
Sottosanti to lead the Company's ProFlowers Business Unit. The
Company announced that unaudited net sales for the fiscal fourth
quarter were approximately $66 million up from $52 million during
the same period last year. In addition, unaudited GAAP earnings are
expected to range from $4.6 to $5.0 million or between $0.33 and
$0.36 per fully diluted share. Pro forma earnings are expected to
be between $0.36 and $0.39 per fully diluted share, excluding
stock-based compensation and its related tax effect. Bill Strauss,
CEO of Provide Commerce stated, "We are pleased with our
preliminary fourth quarter results, which exceeded expectations for
both the top and bottom line. We look forward to addressing our
stockholders on August 17th to provide additional details and
guidance for fiscal year 2006." Strauss continued, "We are also
delighted to name Mark Sottosanti as head of our ProFlowers
Business Unit, replacing Ken Constable. In his nearly six years
with the Company, Mark has served in a variety of management roles
and excelled at each of them. I have the utmost confidence that
Mark will dedicate the same intelligence, innovation and leadership
to this new role. We appreciate Ken's contributions and we wish him
well in his pursuits as he leaves the company to spend more time
with his family." Provide Commerce will release fourth quarter and
fiscal year 2005 financial results on Wednesday, August 17th, after
market hours. A conference call will be webcast live at
approximately 5:00 pm ET on the investor relations portion of the
company's website, at www.prvd.com. Listeners may also access the
call by dialing 1-800-289-0572 or 1-913-981-5543. A replay of the
call is available by dialing 1-888-203-1112 or 1-719-457-0820,
password 4358198. About Provide Commerce, Inc. Provide Commerce
operates an e-commerce marketplace of websites for perishable goods
that consistently delivers fresh, high-quality products direct from
the supplier to the customer at competitive prices. The Company's
platform combines an online storefront, proprietary supply chain
management technology and established supplier relationships to
create a market platform that bypasses traditional supply chains of
wholesalers, distributors and retailers. Provide Commerce launched
its marketplace in 1998 to sell and deliver fresh cut flowers for
everyday and special occasions such as Halloween, Thanksgiving,
Christmas, birthday and anniversary events through its Proflowers
brand and website, www.proflowers.com. Provide Commerce also offers
fresh fruit and premium steak direct from the supplier to its
customers at Cherry Moon Farms, www.cherrymoonfarms.com, and Uptown
Prime, www.uptownprime.com. For more information, please visit
www.prvd.com. Forward-looking Statements Statements in this press
release, other than historical information, may be
"forward-looking" in nature within the meaning of the Private
Securities Litigation Reform Act of 1995 and are subject to various
risks, uncertainties and assumptions. These statements are based on
management's current expectations, estimates and projections about
Provide Commerce and its industry. These statements involve risks
and uncertainties that could cause actual results to differ
materially from those expressed or implied in the applicable
statements. The risks, uncertainties and assumptions that may
affect Provide Commerce, its operating results and your
investments, include, but are not limited to, Provide Commerce's
ability to conclude its auditing efforts in a timely manner,
resulting in audited net sales and earnings numbers that are
consistent with those announced in this press release, fluctuation
in quarterly and annual results, scaling of existing infrastructure
expansion of its core floral business within the floral business as
well as into other perishable product categories, as well as the
factors disclosed in the Company's filings with the U.S. Securities
and Exchange Commission, available via Provide Commerce's website
at www.prvd.com. The Company undertakes no obligation to update any
forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
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