FTD Companies, Inc. announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2017. For the quarter, the company reported total revenues of $161,304,000 against $172,879,000 a year ago. Operating loss was $93,645,000 against $12,023,000 a year ago. Net loss before income taxes was $96,118,000 against $14,326,000 a year ago. Net loss was $76,319,000 or $2.77 per basic and diluted share against $10,269,000 or $0.37 per diluted share a year ago. Net cash used in operating activities was $37,753,000 against $27,995,000 a year ago. Purchases of property and equipment and intangible assets were $4,307,000 against $3,842,000 a year ago. Adjusted EBITDA was $1,914,000 against $14,372,000 a year ago. The decrease in revenues reflects a $7.6 million decline in Consumer segment revenues, a decrease of provide segment revenues of $2.5 million and a decrease in Florist segment revenues of $1.9 million. Foreign currency exchange rates had little impact on consolidated revenues this quarter. Excluding the impairment charge, net loss would have been $8.8 million for the third quarter of 2017 as compared to the net loss of $10.3 million in the prior year third quarter. The decrease in adjusted EBITDA was due to reduced revenues and the associated gross profit along with higher SG&A and marketing expenses. Negative free cash flow was $38,077,000 against $30,525,000 a year ago.

For the nine months, the company reported total revenues of $805,943,000 against $841,332,000 a year ago. Operating loss was $58,056,000 against operating income of $8,663,000 a year ago. Net loss before income taxes was $65,044,000 against net income before income taxes of $3,604,000 a year ago. Net loss was $57,580,000 or $2.10 per basic and diluted share against net income of $3,257,000 or $0.12 per basic and diluted share a year ago. Net cash used in operating activities was $18,144,000 against $3,600,000 a year ago. Purchases of property and equipment and intangible assets were $10,677,000 against $12,018,000 a year ago. Adjusted EBITDA was $64,169,000 against $90,055,000 a year ago. Free cash flow was a use of $19.5 million compared to a use of $12 million in the prior year period. The company experience use of cash through nine months because of seasonality in the business. The year-over-year decline primarily reflects lower 2017 operating income adjusted for non-cash items. Changes in foreign currency exchange rates negatively impacted consolidated revenues by $10.7 million for the first nine months of 2017. The remaining change was primarily due to a decrease in Consumer segment revenues.

The company is reiterated its outlook for full year 2017. Consolidated revenues likely toward the lower end of the previous range of down 3% to 4% on a reported basis compared to 2016, or down 2% to 3% on a constant currency basis. The company expects net income, excluding impairment charges, of approximately $8 million to $12 million. The company expects consolidated Adjusted EBITDA margin of 7.25% to 7.75% of consolidated revenues. The company expects capital expenditures of up to $22 million, this is at the low end of previous expectations for capex, which was a range of $22 million to $25 million.

For the quarter, the company reported impairment of goodwill, intangible assets and other long-lived assets of $82,735,000.