Juno 2012 Annual Report Download - page 85
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Table of Contents
Excluding the favorable impact of foreign currency exchange rates of $5.6 million due to a stronger British Pound versus the U.S. Dollar, FTD
revenues increased by $27.1 million, or 5%, compared to the prior-year period. The increase was primarily due to a 4% increase in average order value
(a 3% increase excluding the impact of foreign currency exchange rates) for the year ended December 31, 2011, compared to the year ended
December 31, 2010 and a 4% increase in consumer orders. The increase in average order value was driven primarily by increased merchandise values,
partially offset by higher discounts, primarily related to group-buying initiatives.
Excluding the unfavorable impact of foreign currency exchange rates of $3.9 million, FTD cost of revenues increased by $19.4 million, or 6%,
compared to the prior-year period primarily due to higher consumer orders. Cost of revenues as a percentage of revenues was negatively impacted by
higher discounts, as discussed above, increased shipping costs and a decrease in post-transaction sales, which have minimal cost of revenues.
Excluding the unfavorable impact of foreign currency exchange rates of $0.7 million, sales and marketing expenses increased by $3.0 million, or
3%, compared to the prior-year period. The increase was primarily due to higher marketing expenditures, including those driven by higher order
volumes and group-buying initiatives, as well as an increase in marketing expenses related to television advertising in the U.K., partially offset by
decreased marketing expenditures related to television advertising in the U.S.
81
Products $ 471,885 $ 434,035 $ 37,850 9%
Services 115,364 119,641 (4,277) (4)%
Advertising — 900 (900) (100)%
Total FTD Revenues $ 587,249 $ 554,576 $ 32,673 6%
Consumer orders 6,628 6,361 267 4%
Average order value $ 62.15 $ 59.72 $ 2.43 4%
FTD cost of revenues $ 367,232 $ 343,988 $ 23,244 7%
FTD cost of revenues as a percentage of FTD revenues 62.5% 62.0%
FTD sales and marketing $ 97,512 $ 93,782 $ 3,730 4%
FTD sales and marketing expenses as a percentage of FTD revenues 16.6% 16.9%