reported a second-quarter loss today that beat Wall Street's estimates by 3 cents, narrowing losses from last year by roughly 40%.
The company lost $10.5 million, or 16 cents a share in the second quarter ended Dec. 31, narrowing its loss from $17.5 million, or 28 cents a share, a year ago. According to
First Call/Thomson Financial
, five analysts initially expected the company to lose 24 cents a share, but later altered that estimate to a loss of 19 cents a share.
The online flowers and gifts retailer, which is based in Westbury, N.Y., posted second-quarter revenue of $134.2 million, up from $116 million for the same period last year.
1-800-Flowers expects revenue to increase 18% to 20% during the second half of fiscal year 2001, and projected positive earnings before interest, taxes, depreciation and amortization in the fourth quarter.
Shares of 1-800-Flowers fell 31 cents, or 5.6%, to $5.34 in recent