Financial Reports: 1-800-Flowers, PC Connection

1-800-Flowers Cuts 3Q Loss

Westbury, NY-based (Nasdaq: FLWS) posted net revenue of $95.2 million for the three months ended Sept. 28. That’s a 7% increase from $89.2 million for the comparable quarter of last year.

The increased revenue contributed to a 30% decline in the company’s net loss for the quarter. The parent company of the Plow & Hearth, Popcorn Factory, Magic Cabin Dolls, and HearthSong catalogs posted a net loss of $5.1 million, compared with a net loss of $7.3 million a year ago.

Special Charges Eat into PC Connection Profit
Third-quarter net sales at Merrimack, NH-based computer reseller PC Connection (Nasdaq: PCCC) increased 3%, to $349.4 million, from $341.0 million last year. Net income was flat for the quarter at $2.2 million. The company says that charges related to workforce reductions and other special charges reduced its earnings.

Net sales for the small- and midsize business segment increased 3%, to $179.6 million. Sales to government and education customers rose 8%, to $103.6 million. More specifically, sales to the federal government grew year-over-year by less than 1%. Sales to large corporate account customers decreased by 6%, to $66.3 million.