FTD Companies, Inc. (NASDAQ:FTD) Q2 2016 Earnings Conference Call - Preliminary Transcript

Aug 04, 2016 • 05:00 pm ET


FTD Companies, Inc. (NASDAQ:FTD) Q2 2016 Earnings Conference Call - Preliminary Transcript


Loading Event

Loading Transcript


Greetings and welcome to the FTD Companies Second Quarter 2016 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

I would now like to turn the conference over to your host Ms. Jandy Tomy. Thank you, you may begin.

Jandy Tomy

Thank you. Good afternoon and welcome to the FTD Companies second quarter 2016 earnings conference call and webcast. With me today on the call are Robert Apatoff, President and Chief Executive Officer, and Becky Sheehan, Executive Vice President and Chief Financial Officer.

Before we begin please remember that during the course of this call management may make forward-looking statements within the meaning of the federal securities laws that address the Company's expected future business, financial performance and financial condition. These forward-looking statements involve risks and uncertainties that could cause actual results to be materially different than those expressed in our forward-looking statements. In addition to the Company's reports filed with the Securities and Exchange Commission please refer to the text in the Company's press release issued today for a discussion of the risks and uncertainties associated with such forward-looking statements.

Also please note that on today's call management will refer to certain non-GAAP financial measures including adjusted EBITDA, adjusted net income, free cash flow and constant currency comparisons. The Company believes these non-GAAP financial measures provide useful information for investors. Please refer to today's press release for definitions and calculations of these non-GAAP performance measures as well as reconciliations of the non-GAAP performance measures to the Company's GAAP financial results.

Now I'd like to turn the call over to Robert Apatoff, President and Chief Executive Officer.

Robert Apatoff

Thank you, Jandy. Good afternoon everyone and thank you for joining us today. I will provide a brief overview of our business performance and initiatives and following my comments our CFO Becky Sheehan will review our financial results and outlook for 2016 in more detail. Finally, I will provide a few closing remarks and then we will open up the call to take your questions. I want to start by highlighting the three key pillars we've discussed in a previous earnings calls this year as they continue to be the foundation of how we look at the FTD business. First, we remain focused on profitability and cash flow.

Although profitability was down in the second quarter, it exceeded our expectations and we grew our consolidated EBITDA margin. We remain on track in our multiyear integration and synergy realization plan. We have accomplished a great deal in the last year and a half and we will build upon these successes as we continue our integration work. We have several important projects underway, including the consolidation of our multiple technology platforms. Thirdly, we are remain confident in our ability to deliver future growth and consolidated revenues.

We acknowledge that revenue in our US consumer floral businesses have been challenged but we have plans to address this