FTD Companies, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2018. For the quarter, the company reported revenues of $318.2 million, an increase of 0.5% compared to $316.5 million for the first quarter of 2017, primarily due to an increase in International segment revenues, partially offset by a decrease in the U.S. Consumer and Florist segment revenues. Net loss was $6.6 million or $0.24 per basic and diluted share for the first quarter of 2018, compared to net income of $9.0 million or $0.32 per basic and diluted share for the first quarter of 2017. Net loss includes pre-tax non-cash impairment charges related to other long-lived assets of $2.4 million for the first quarter of 2018. Adjusted EBITDA was $4.9 million, or 1.5% of consolidated revenues, for the first quarter of 2018, compared to $31.1 million, or 9.8% of consolidated revenues, for the first quarter of 2017. Net cash used for operating activities was $1.0 million for the first quarter ended March 31, 2018, compared to net cash provided by operating activities of $24.2 million for the prior year quarter. Operating loss was $4,417,000 against income of $17,840,000 a year ago. Net loss before income taxes was $6,927,000 against income of $15,542,000 a year ago. Purchases of property and equipment were $7,059,000 against $3,196,000 a year ago.

The company reiterated its 2018 business outlook and continues to expect that its results for the full year will be near the low end of its previously communicated guidance range for consolidated revenues and adjusted EBITDA. The previously communicated ranges were as: consolidated revenues of down 2% to an increase of 2% as compared to 2017, consolidated adjusted EBITDA of $52 million to $62 million, capital expenditures of approximately $35 million to $40 million. The company is not providing 2018 guidance for net income, the GAAP measure most directly comparable to Adjusted EBITDA, and similarly cannot provide a reconciliation between its forecasted Adjusted EBITDA and net income metrics without unreasonable effort due to the unavailability of reliable estimates for certain items, including transaction-related costs, impairments of goodwill, intangible assets and other long-lived assets, and discrete tax items. These items may vary significantly between periods and could materially impact future financial results.

For the first quarter of 2018, the company reported impairment of other long-lived assets of $2,355,000.