To: Mr. Big who wrote (57716 ) 2/23/1999 9:25:00 AM From: Rande Is Respond to of 119973
[ROSI] - U.S.A. Floral Products Reports Fourth Quarter and Year End 1998 Results [Excerpts] Full story: go2net.newsalert.com WASHINGTON--(BUSINESS WIRE)--Feb. 23, 1999--U.S.A. Floral Products, Inc. (Nasdaq: ROSI), the largest integrated distributor of floral products in the world, today announced results for the fourth quarter period and year-ended December 31, 1998, as well as preliminary Valentine's Day revenues for 1999. Revenues for the fiscal year 1998 were $589 million (pro forma $999.8 million) compared to $37.4 million (pro forma $930.3 million) in 1997. Net income was $7.7 million, or $0.52 per diluted share (pro forma $9.2 million or $0.56) compared to $0.4 million, or $0.09 per diluted share (pro forma $11 million or $0.68) for 1997. The 1998 results are after pretax nonrecurring charges aggregating $5 million (approximately $0.21 per diluted share) for the Company's previously announced integration plan and a write-off of unamortized financing fees in connection with the Credit Facility. Pro Forma 1998 results also include integration charges incurred by Florimex prior to its acquisition, bringing the total impact of such charges to approximately $0.28 per diluted share on a pro forma basis. Robert J. Poirier, Chairman, President and Chief Executive Officer of U.S.A. Floral Products, stated, "Our fourth quarter and year end results are exciting. We beat consensus analysts' estimates for the fifth consecutive quarter. This year-end marks our first full year of operations for the company, a year that everyone associated with U.S.A. Floral is very proud of, especially our 4,300 employees in 21 countries. In the past year, we achieved more than anyone could have imagined, and we continue to expand our vision in revolutionizing the floral distribution industry." - - - - - - Pretty impressive. . . Rande Is