FTD Companies, Inc. reported unaudited consolidated earnings results for the second quarter and six-months ended June 30, 2017. For the quarter, revenues were $328.1 million for the second quarter of 2017, compared to $338.2 million for the second quarter of 2016. Net income was $9.7 million compared to net income of $11.8 million for the second quarter of 2016. The decrease in net income was primarily attributable to an increase in sales and marketing expenses and an increase in the provision for income taxes, partially offset by a decrease in amortization of intangible assets. Adjusted EBITDA was $31.2 million, or 9.5% of consolidated revenues compared to $45.1 million, or 13.3% of consolidated revenues, for the second quarter of 2016. Operating income was $17,749,000 compared to $17,747,000 a year ago. Net income before income taxes was $15,532,000 compared to $15,496,000 a year ago. Diluted earnings per share were $0.35 compared to $0.42 a year ago. Net cash used in operating activities was $4,607,000 compared to net cash provided by operating activities of $6,824,000 a year ago. Purchases of property and equipment and intangible assets were $3,174,000 compared to $3,565,000 a year ago. Adjusted EBITDA was $31,191,000 compared to $45,059,000 a year ago. Capital expenditures were $3,174,000 compared to $3,565,000 a year ago. Free cash outflow was $5,797,000 compared to free cash inflow of $4,340,000 a year ago.

For the six months, revenues were $644.6 million for the six months ended June 30, 2017, compared to $668.5 million in the six months ended June 30, 2016. Net income was $18.7 million compared to $13.5 million for the six months ended June 30, 2016. Adjusted EBITDA was $62.3 million, or 9.7% of consolidated revenues compared to $75.7 million, or 11.3% of consolidated revenues, for the prior year period. Net cash provided by operating activities was $19.6 million compared to $24.4 million for the prior year period. For each of the six month periods ended June 30, 2017 and 2016, the company generated Free Cash Flow of $18.6 million. Operating income was $35,589,000 compared to $20,686,000 a year ago. Net income before income taxes was $31,074,000 compared to $17,930,000 a year ago. Diluted earnings per share were $0.67 compared to $0.48 a year ago. Purchases of property and equipment and intangible assets were $6,370,000 compared to $8,176,000 a year ago. Adjusted EBITDA was $62,254,000 compared to $75,683,000 a year ago. Capital expenditures were $6,370,000 compared to $8,176,000 a year ago.

For the full year 2017, the company has updated its outlook. The company now expects the following: consolidated revenues for 2017 to be down 3% to 4% on reported basis compared to the company's 2016 consolidated revenues of $1.12 billion, or down 2% to 3% on a constant currency basis (using an average GBP to USD exchange rate of 1:1.26 as compared to the 2016 average exchange rate of 1:1.36); net income of approximately $8 million to $12 million; consolidated Adjusted EBITDA margin of  7.25% to 7.75% of consolidated revenues, primarily as a result of the lower consolidated revenues outlook and an increase in marketing investments compared to fiscal 2016; and capital expenditures of approximately $22 million to $25 million, primarily due to planned enhancements to the company's technology platform.