Financial Reports: 1-800-Flowers.com, Transcat

1-800-Flowers Increases Revenue and Earnings

Westbury, NY-based 1-800-Flowers.com (Nasdaq: FLWS) reported revenue of $213.2 million for the fiscal second quarter ended Dec. 28. That’s an 8% increase from $197.4 million for the comparable quarter of 2002. Net income rose even more–36%, to $13.7 million from $10.1 million.

Online revenue for the gifts, toys, and home products marketer increased 20%, to $90.9 million from $75.8 million last year. The company, whose catalogs include Plow & Hearth, HearthSong, and The Popcorn Factory, achieved double-digit sales growth in all of its gift product categories. Sales of the company’s high-margin home decor items, however, came in below expectations.

Quarterly Sales, Income Down at Transcat
Rochester, NY-based Transcat (NasdaqSC:TRNS), a manufacturer/marketer of test, measurement, and calibration tools, posted a sales decline for its fiscal third quarter as well as a net loss.

Net sales fell to $13.6 million for the quarter ended Dec. 27, compared with $14.6 million the previous year. The company reported a net loss for the quarter of $200,000; for the comparable quarter of 2002, Transcat had reported net income of $1.3 million. Included in the third quarter was $200,000 charge to settle a lawsuit brought against the company by a former chief financial officer.

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