FTD Companies, Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2017. For the first quarter, the company's consolidated total revenues were $316.493 million for the first quarter of 2017, compared to $330.214 million for the first quarter of 2016. The decrease in first quarter consolidated revenues compared to the prior year period was primarily due to decreased revenues in the Consumer segment and the impact of foreign currency exchange rates in the International segment. Changes in foreign currency exchange rates negatively impacted 2017 first quarter revenues by $7.1 million. Consolidated revenues were positively impacted during the first quarter of 2017 by the Tuesday placement of Valentine's Day in 2017 as compared to the Sunday placement in 2016, however, the increase was partially offset by the shift in the timing of the Easter holiday to the second quarter in 2017 as compared to the first quarter in 2016. Operating income was $17.840 million against $2.939 million a year ago. Net income before income taxes was $15.542 million against $2.434 million a year ago. Net income was $9.023 million for the first quarter of 2017, compared to net income of $1.751 million for the first quarter of 2016. The increase in net income was primarily attributable to a decrease in amortization of intangible assets, partially offset by an increase in the provision for income taxes. Basic and diluted earnings per share were $0.32 against $0.06 Net cash provided by operating activities was $24.216 million against $17.571 million a year ago. Purchases of property and equipment and intangible assets were $3.196 million against $4.611 million a year ago. Adjusted EBITDA was $31.063 million against $30.624 million a year ago. For the three months ended March 31, 2017, the company generated free cash flow of $24.350 million compared to $14.210 million for the prior year period.

For the full year 2017, the company reiterated its earnings guidance as: consolidated revenues in 2017 to be largely in-line on a reported basis with the company's 2016 revenues of $1.12 billion, or up low single digits on a constant currency basis (using an average GBP to USD exchange rate of 1:1.21 as compared to the 2016 average exchange rate of 1:1.36). Net income expected to be approximately $10.0 million to $15.0 million. Consolidated adjusted EBITDA margin is anticipated to decline to approximately 8.0% to 8.5% of consolidated net revenues, primarily as a result of expected increases in marketing investments. Capital expenditures expected to be approximately $28.0 million, primarily due to planned enhancements to the company's technology platform. In connection with the outlook provided above, note that the seasonality of the company's business impacts its profitability and cash flows from operations on a quarterly basis. In addition, due to a variety of factors, actual results may differ significantly from the outlook provided.