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**SECURITIES AND EXCHANGECOMMISSION****Washington D.C.  20549**

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**Form10-K**

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**ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934**

**(MarkOne)**
| **ý** | **ANNUAL  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.    For the fiscal year ended June 30, 2001.**                   |
|------------|----------------------------------------------------------------------------------------------------------------------------------------------------------|
|       |                                                                                                                                                     |
| **o**      | **TRANSITION  REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934  For the transition period from __________ to ___________.** |

 

**Commission File Number 0-26779**

**FTD.COMINC.**** **(Exact name of registrant as specified in itscharter)

 
| **Delaware**                                                     | **36-4294509**                           |
|------------------------------------------------------------------|------------------------------------------|
|                                                                  |                                          |
| (State or other  jurisdiction of  incorporation or organization) | (I.R.S. Employer  Identification Number) |
|                                                             |                                     |
| **3113  Woodcreek Drive Downers Grove, Illinois**           | **60515**                                |
|                                                                  |                                          |
| (Address of principal  executive offices)                        | (Zip Code)                               |

Registrant’stelephone number, including area code  **(630) 724-6200**

Securitiesregistered pursuant to Section 12(b) of the Act:**None**

**Securities registered pursuant to Section 12(g) of the Act:Class A Common Stock, par value $0.01 per share**(Title of Class)

             Indicateby check mark whether the registrant (1) has filed all reports required to befiled by Section 13 or 15(d) of the Securities Exchange Act of 1934 during thepreceding 12 months and (2) has been subject to such filing requirements forthe past 90 days. Yes   ý No  o

             Indicateby check mark if disclosure of delinquent filers pursuant to Item 405 ofRegulation S-K is not contained herein, and will not be contained, to the bestof registrant’s knowledge, in definitive proxy or information statementsincorporated by reference in Part III of this Form 10-K or any amendment tothis Form 10-K.   o 

             Theaggregate market value of the registrant’s Class A Common Stock, par value $.01per share, held by non-affiliates of the registrant as of July 31, 2001 was$45,085,844.  As of July 31, 2001, thenumber of outstanding shares of Class A common stock, par value $.01 per share,of FTD.COM INC. was 8,206,743 and the number of outstanding shares of Class Bcommon stock, par value $.01 per share, of FTD.COM INC. was 40,395,000.

**Documents Incorporated byReference:**

Proxy Statement (to be filed)accompanying the notice of the annual meeting of FTD.COM INC.’s stockholders tobe held on November 13, 2001 (Part III hereof).

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**             PART I**

**Item 1.  Business**

**General**

             FTD.COMINC. (“the Company” or “FTD.COM”) is an Internet and telephone marketer offlowers and specialty gifts, which began selling products directly to consumersthrough the 1-800-SEND-FTD toll-free telephone number in 1993 andelectronically to consumers through the *www.ftd.com*Web site in 1994.  The Company offerssame-day delivery of floral orders to nearly 100% of the U.S. population.  The majority of orders are fulfilled by agroup of independent FTD florists who adhere to FTD.COM’s quality and servicestandards.  The Company offers over 400floral arrangements and over 800 specialty gift items, including gourmet giftbaskets, holiday gift sets, bath and beauty products, garden products andstuffed animals.  Product offerings areavailable at prices ranging from $17.99 to approximately $500.00.

             TheCompany is a majority-owned subsidiary of Florists’ Transworld Delivery, Inc.(“FTDI”).  FTDI is a wholly-ownedsubsidiary of IOS BRANDS Corporation (“IOS”). The Company was incorporated as a Delaware corporation in May 1999 andat that time began to retain its own earnings. In consideration for the receipt of 40,920,000 shares of Class B commonstock (as adjusted to reflect a 12-for-1 stock split on July 30, 1999), FTDIcontributed to the Company the assets and liabilities relating to the consumerfloral order and specialty gift product business.

**Product Offerings**

             TheCompany sells exclusive FTD floral arrangements designed by FTDI, as well astraditional floral arrangements. Specialty gifts include a wide variety of products including gourmetgift baskets, holiday gift sets, bath and beauty products, garden products,plush gifts and collectibles.  Theseproducts are available at a wide range of price points.  The following table illustrates a sample ofcurrent product offerings.

| **Product  Type**           | **Product  Examples**                                                                                                                                                                                                                                               | **Retail Price Range**       |
|-----------------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------------------|
| ****                        | ****                                                                                                                                                                                                                                                                | ****                         |
|                        |                                                                                                                                                                                                                                                                |                         |
| FTDI  Designed Arrangements | FTDÒ  Your DayÔ  Bouquet  FTDÒ  Thanks a BunchÒ  Bouquet  FTDÒ  Birthday PartyÒ  Bouquet  The Diana, Princess of Wales Bouquet—Presented by FTDÒFTDÒBlooming MasterpieceÔ  Bouquet  FTDÒGardenÔ  Basket | $30.99 to over  $300.00 |
|                        |                                                                                                                                                                                                                                                                |                         |
| Traditional  Arrangements   | Roses,  other floral bouquets and baskets                                                                                                                                                                                                                           | $30.99 and up                |
|                        |                                                                                                                                                                                                                                                                |                         |
| Specialty  Gifts            | Build-A-Bear  WorkshopÔ  Teddy Bears  Blooming CookiesÒSan Francisco Music  Box  NabiscoGifts.comÔ  NFLÒ,  MLBÒ and NASCARÒ Gift Baskets                                                                                         | $17.99 to approx.  $500.00   |

             **FTDI designed arrangements**.  FTDI designs floral arrangements and basketsfor everyday and special occasions, such as birthdays, anniversaries and majorholidays, including the most popular floral holidays of Valentine’s Day,Easter, Mother’s Day, Thanksgiving and Christmas. The Company typically offersover 400 FTDI designed arrangements throughout the year, featuringapproximately 15 products in each special occasion category for the appropriatetime of year.

             **Traditional arrangements**.  Consumers can also purchase traditionalfloral arrangements, such as roses, other floral bouquets and baskets, to meettheir personal preferences.

             **Specialty gifts**.  The Company also offers specialty gift products in key categoriessuch as plush gifts, gourmet gift baskets, bath and beauty products, gardenproducts and collectibles.  Included inthese categories are products from leading brands, such as Build-A-BearWorkshopÔ,Blooming CookiesÒ,San Francisco Music Box, NabiscoGifts.comÔ, NFLÒ, MLBÒ and NASCARÒ.  The Company offers over 800 products in thiscategory throughout the year.  Theseproducts are shipped directly from the vendor’s manufacturing facilities or athird party distributor to the consumer.

**Transaction Execution**

             Theexecution of an order consists of the following steps:

             **Order placement**

| · | *Internet  orders –*Once a customer has selected a product, the Web site prompts the  customer to enter a credit card number and provide other relevant  information, including the address of the recipient and a requested delivery  date.  This information is then  transmitted over the Internet to the servers that process the order, select  the fulfilling florist and communicate with FTDI’s Mercury Network, which is  a scalable, redundant network that transmits orders and facilitates  communication with and among FTD florists, manufacturers and third party  distributors.  With respect to the  Mercury Network, the term “redundant network” means that several checks and  balances exist to ensure that a customer’s order is processed in a timely  manner*.* |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| · | *Telephone  orders –*A sales representative collects the relevant order and credit card  payment information from the customer.   This information is then transmitted to the servers that process the  order, select the fulfilling florist and communicate with the Mercury  Network, as described above.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

**Order fulfillment**

| · | *Orders  fulfilled by florists –*Orders are routed through the Mercury Network, to the selected  fulfilling florist.  The fulfilling  florist fills the order by delivering the floral order directly to the  recipient.                                                                                                                                                                                                                                                                       |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| · | *Orders  fulfilled by manufacturers or third party distributors –*Orders are routed through the Mercury Network or  another predetermined method to the manufacturer or third party  distributor.  The manufacturer or  third party distributor of the specialty gift item then sends the specialty  gift item to the recipient through an express delivery service.  These items typically arrive in one to  five business days depending on the delivery method chosen by the customer. |

 

**Transaction Economics**

             Ordersplaced through the Company’s Web site or 1-800-SEND-FTD typically are paid forusing a credit card.  When a customermakes a purchase that will be fulfilled by an FTD florist, the Companyprocesses the order, charges the customer’s credit card and transmits the orderto FTDI’s Mercury Network.  The MercuryNetwork then transmits the order to the fulfilling florist.  TheCompany charges the customer a service fee of $7.99 for floral orders placedthrough the Web site and $9.99 for floral orders placed through 1-800-SEND-FTD,prior to any promotional discounts.  Acommission of $5.00 is paid to the Company by FTDI for each floral order thatis cleared through the FTD Clearinghouse.

             Ordersfrom the Company’s specialty gift selection are fulfilled by a manufacturer ora third party distributor based on a pre-negotiated price.  The Company charges the customer shippingand handling fees for these specialty gift product orders.  Amounts charged to the customer for theproduct and shipping and handling are recorded as revenue while thepre-negotiated price of the product and the costs incurred for shipping andhandling are recorded as costs of fulfillment and processing services.  The Company does not receive a commissionfrom FTDI for these orders.

             TheCompany recognizes 100% of the order value as revenue and recognizes theassociated costs for fulfillment and processing services when an order isfulfilled.  Processing services costs primarily consist of fees due toFTDI for processing services and amounts related to processing orders throughthe Company’s toll-free telephone number, including the cost of the internalcall center and amounts paid to external third party call centers and FTDI forutilization of their call center.

**Competition**

             Theconsumer markets for flowers and specialty gifts are highly competitive andhighly fragmented.  The number ofe-commerce Web sites competing for consumers’ attention has increased rapidlyduring the past several years.  TheCompany competes with marketers of flowers and specialty gifts who sell throughvarious channels, including retail stores, the Internet, the telephone andcatalogs.  The primary competitivefactors in the floral and specialty gift markets are brand recognition, trustin the brand, Web site content and ease of use, price of products and services,fulfillment capabilities, customer service and reliability.  Our principal competitors are1-800-FLOWERS.COM, Inc. and Proflowers.com.

**Seasonality**

             TheCompany’s revenues and operating results vary from quarter to quarter becauseof seasonal fluctuations in the Company’s business.  For example, revenues and operating results tend to be lower forthe quarter ending September 30 because none of the most popular floral andgift holidays, which include Valentine’s Day, Easter, Mother’s Day,Thanksgiving and Christmas, falls within that quarter.  In addition, depending on the year, thepopular floral and gift holiday of Easter either falls within the quarterending March 31 or within the quarter ending June 30.  As a result, comparisons of results of operations from onequarter to the immediately preceding quarter or the same quarter of thepreceding year may be of limited relevance in evaluating the Company’shistorical financial performance and predicting the Company’s futureperformance.

**Marketing and Promotion**

             In fiscal year 2000, the Companydeployed an integrated marketing campaign focused on customer acquisition.  In fiscal year 2001, the Company shifted toa more balanced program focused on both customer acquisition and retention,which the Company plans to continue in fiscal year 2002.  In fiscal years 2000 and 2001, the Company’smarketing programs utilized a varying mix of offline, online, direct andcustomer loyalty marketing strategies.

             **Offline advertising**.  In fiscal year 2000, the Company utilizedvarious offline advertising vehicles to acquire customers, including broadcastand cable television, newspaper print, magazine print, radio and outdooradvertising.  In fiscal year 2001, theCompany significantly reduced its offline advertising in an effort to achieve amore balanced marketing program focused on both customer acquisition andretention.  In addition to the Company’sefforts, FTDI utilizes a wide range of offline advertising vehicles to promotethe FTD brand and the Mercury Man logo, such as broadcast and cable television,newspaper print and magazine print.

             **Online advertising**.  The Company primarily places onlineadvertisements and links on high traffic shopping and search- oriented Websites.  The Company has established anadvertising presence on several high-traffic Web sites, such as Yahoo! andMSN.com.

             **Direct marketing/affinity programs**.  Through an aggressive direct marketingcampaign, the Company has developed relationships with many companies that havelarge consumer databases, including United Airlines, American Airlines andcredit card issuers, such as American Express. The Company utilizes statement inserts, e-mail and online placements andoffers discounts, mileage awards and point awards for purchases to market tothese consumers.

             **Customer loyalty marketing**.  The Company uses its extensive database ofcustomer information to enhance its customer retention efforts.  For example, Internet customers canestablish an account that stores an address book, occasion reminders andbilling information and allows for the review of previous purchases.  The Company utilizes printed catalogs,e-mail and other direct marketing pieces to market to its existing customers.

**Technology and Systems**

             TheCompany’s Internet technology utilizes FTDI’s systems and technology licensedfrom outside third parties, enabling the Company to offer its customers what itbelieves is a convenient and user-friendly online shopping experience.

             TheCompany utilizes server technology in a fully redundant configuration to powerits Web site.  The hosting location hasthe ability to handle increases in usage levels by utilizing data communicationlinks that can add capacity in excess of historical usage levels.  The hosting of the Company’s Web site isperformed by a third party vendor under an operating service agreement.  The terms of the operating serviceagreement, as amended, provide for variable payments, which are based on thenumber of completed orders, and has a one-year term expiring June 30, 2002,with mutual renewal options.  Althoughthere are a limited number of Web site service companies, management believesthat other vendors could provide the Company with these Web site services oncomparable terms.  A change in Web siteservice companies, however, could cause a reduction in the quality, or anincrease in the price of Web site services, which could adversely affect theCompany’s operating results.

             Theprimary sources of support for the Company’s order processing and managementsystem are fully redundant processors, which FTDI owns.  The term “redundant processors” means thatthere are back-up servers that remain idle or run non-critical tasks when thesystem is working properly.  If one ofthe primary processors goes down, then a back-up processor will start-up andbegin to handle customer transactions. These processors accept and validate floral and non-floral orders,assess product availability, handle credit card transaction processing, respondautomatically to customer communications and facilitate florist selection.  The processors then communicate the order tothe florist, third party distributor or manufacturer through the MercuryNetwork or another predetermined method.

             Ordersgenerated through 1-800-SEND-FTD are processed by an internal call center andFTDI’s call center.  A portion of theorders generated through 1-800-SEND-FTD have historically been processed by athird party external call center, however, in the fourth quarter of fiscal year2001, the Company terminated its contract with its third party external callcenter and is currently evaluating entering into contracts with new third partyexternal call centers to provide services during peak holiday periods.  Having access to third party external callcenters provides the Company with the flexibility to facilitate call centerexpansion capabilities during the peak holiday periods without additionalcapital expenditures.

**Customer Service**

             TheCompany operates an internal customer service center, utilizes a call centerowned and operated by FTDI and also utilizes third party external callcenters.  Customer service personnel areresponsible for handling a customer’s general inquiries, including order, deliveryand payment status inquiries.

**Intellectual Property**

             Aportion of the Company’s intellectual property is licensed from third parties,principally FTDI.  These licensearrangements include the Trademark License Agreement with FTDI, pursuant towhich the Company licenses the right to use the FTD name, including the use ofthe FTD trademark and associated logos as part of the Company’s *www.ftd.com* Internet domain name and the1-800-SEND-FTD toll-free telephone number. In addition, a substantial portion of the technology incorporated intothe Web site is based on technology licensed from the Company’s third party Website developer, including the database and Internet server software and theassociated source code.  To protect theCompany’s intellectual property rights, the Company relies on a combination ofcopyright, trademark and trade secret laws, confidentiality procedures,contractual provisions and agreements with employees, customers, strategicpartners and others.  Additionally, theCompany depends on the third party owners of the licensed intellectual propertyrights to protect those rights.

**Employees**

             TheCompany employed 97 people as of July 31, 2001.  In addition, various employees of FTDI provide services to theCompany pursuant to an intercompany services agreement with FTDI.  None of the employees is represented by aunion, and the Company considers relations with its employees to be good.

**Item 2.  Properties**

             TheCompany’s principal offices are located at 3113 Woodcreek Drive, Downers Grove,Illinois 60515, and are shared with FTDI, which owns the property.  The Company uses a portion of this propertyunder a space-sharing arrangement with FTDI. The Company does not own any real estate.

**Item 3.  LegalProceedings**

             TheCompany is not involved in any legal proceedings that management believes wouldadversely affect the Company’s business, results of operations or financialcondition.

**Item4.  Submission of Matters to a Vote ofSecurity Holders**

             None.

**Item4a.  Executive Officers of theRegistrant**

| **Name**               | **Age** | **Position**                                     |
|------------------------|---------|--------------------------------------------------|
|                        |         |                                                  |
|                   |    |                                             |
| Richard  C. Perry      | 46      | Chairman  of the Board                           |
|                   |    |                                             |
| Michael  J. Soenen     | 31      | President,  Chief Executive Officer and Director |
|                   |    |                                             |
| Ann  M. Hofferberth    | 53      | Chief  Merchandising Officer                     |
|                   |    |                                             |
| Frederick  K. Johnson  | 54      | Chief  Information Officer                       |
|                   |    |                                             |
| William  J. Van Cleave | 37      | Vice  President - Marketing                      |
|                   |    |                                             |
| Carrie  A. Wolfe       | 30      | Chief  Financial Officer                         |

 

**             Richard C.Perry**is the President and Managing Member of Perry Capital LLC, founded in1998, and the President of Perry Corp., both of which are private moneymanagement firms.  He founded PerryCorp. in 1988.  Mr. Perry is also adirector of FTDI, IOS BRANDS Corporation and Radio & Records, Inc. and atrustee of the Allen Stevenson School and the National Advisory Board of FacingHistory and Ourselves.  Mr. Perryreceived a B.S. from the Wharton School of the University of Pennsylvania in1977 and an M.B.A. from New York University’s Stern School of Business in1980.  Mr. Perry has also served as anAdjunct Associate Professor at New York University’s Stern School of Business.

**             Michael J.Soenen**is the President, Chief Executive Officer and a director of FTD.COM.  He was Vice President - Marketing of FTDIfrom August 1998 until he joined FTD.COM in May 1999.  From January 1997 until August 1998, he was Director of SalesPromotion for FTDI.  Mr. Soenen was anassociate at Perry Corp. from August 1996 to December 1996.  From July 1993 to July 1996, Mr. Soenenworked for Salomon Brothers Inc, an investment banking firm that is now part ofSalomon Smith Barney Inc.  Mr. Soenenreceived a B.A. from Kalamazoo College in 1992.

**             Ann M.Hofferberth**is the Chief Merchandising Officer of FTD.COM.  Prior to joining the Company in January 2001, she was Presidentof Hallmark’s Specialty Retail Group, otherwise known as Hallmark Gold Crownstores, from July 1996 to December 2000. Ms. Hofferberth has an extensive background in specialty retailing,having held positions with Domain Home Fashions, V.F. Corporation and CasualCorner Group, Inc.  Ms. Hofferberthreceived a B.S. from the University of Connecticut in 1970.

**             FrederickK. Johnson**is the Chief Information Officer of FTD.COM.  He was Executive Vice President - Technology of FTDI from July1997 to September 1999, when he moved to FTD.COM from FTDI.  For at least five years prior to that time,Mr. Johnson was Senior Vice President - MIS for JoAnn Stores, Inc., a retailchain of fabric and craft stores.  Mr.Johnson received a B.S. from Case Institute of Technology in 1969 and an M.B.A.from Case Western Reserve University in 1977.

**             William J.Van Cleave**is Vice President - Marketing of FTD.COM.  Prior to joining the Company in August 1999, he was the MarketingDirector of americangreetings.com, the Internet marketing division of AmericanGreetings Corporation, from November 1995 to July 1999.  American Greetings Corporation designs,manufactures and sells seasonal greeting cards and other social expressionproducts.  From August 1990 to October1995, Mr. Van Cleave served in various other capacities at American GreetingsCorporation.  Mr. Van Cleave received aB.S. from Miami University in 1986 and an M.B.A. from Case Western ReserveUniversity in 1990.

**             Carrie A.Wolfe**has served as the Chief Financial Officer of FTD.COM since June2001.  She previously served as VicePresident - Finance and Accounting and Controller of FTD.COM.  Prior to joining the Company in November1999, she was Director of Finance and Director of Financial Reporting, as wellas serving in various other capacities, at Whitman Corporation, a producer anddistributor of Pepsi-Cola brand products and a variety of other non-alcoholicbeverage products, from October 1995 to November 1999.  From June 1992 to September 1995, Ms. Wolfeworked in the auditing group at Price Waterhouse, an independent publicaccounting firm.  Ms. Wolfe received aBachelor of Accountancy from the University of Illinois in 1992 and is aCertified Public Accountant.

**PART II**

**Item 5.  Market forRegistrant’s Common Equity and Related Stockholder Matters**

             TheCompany’s Class A common stock is quoted on the NASDAQ National Market underthe symbol “EFTD.”  There currently isno public market for the Company’s Class B common stock, all outstanding sharesof which are held by FTDI.  The holdersof Class A common stock have voting rights identical to holders of Class B commonstock, except that holders of Class A common stock are entitled to one vote pershare and holders of Class B common stock are entitled to ten votes pershare.  The Class B common stock isconvertible into shares of Class A common stock on a one-for-one basis at theoption of the holder and automatically converts into shares of Class A commonstock on a one-for-one basis upon any transfer to a person other than FTDI orcertain of its affiliates or successors or a strategic partner.

             Thetable below sets forth the high and low sales prices as reported in the NASDAQNational Market for FTD.COM Class A common stock for each quarterly period offiscal year 2001 and fiscal year 2000, beginning with September 29, 1999, thefirst day of public trading.  The Companyhas never paid cash dividends on its capital stock and intends to retain all ofits earnings to finance its operations. The Company may incur indebtedness in the future that may prohibit oreffectively restrict the payment of cash dividends.

|                                               | High   |    | Low    |
|----------------------------------------------------|--------|---------|--------|
|                                               |        |    |        |
| 2001:                                              |   |    |   |
| 4th quarter (April 1 - June 30)                    | $      | 7.3900  |   | $ | 2.8750 |
| 3rd quarter (January 1 - March 31)                 | $      | 3.7500  |   | $ | 1.3750 |
| 2nd quarter (October 1 - December 31)              | $      | 3.5625  |   | $ | 1.0625 |
| 1st quarter (July 1 - September 30)                | $      | 2.5938  |   | $ | 1.8750 |
|                                               |   |    |   |
| 2000:                                              |   |    |   |
| 4th quarter (April 1 - June 30)                    | $      | 3.5000  |   | $ | 1.7500 |
| 3rd quarter (January 1 - March 31)                 | $      | 6.0625  |   | $ | 2.8750 |
| 2nd quarter (October 1 - December 31)              | $      | 8.8750  |   | $ | 4.5000 |
| 1st quarter   (September 29 and September 30) | $      | 12.5625 |   | $ | 7.8750 |

             There were 42 stockholders of record at July 31, 2001,excluding beneficial owners of shares registered in nominee or street name.

**Changes in Securities and Use of Proceeds**

             On September 28, 1999, the Securities and ExchangeCommission declared effective the Company’s Registration Statement on Form S–1,as amended (File No. 333-78857), relating to the Company’s initial publicoffering (“IPO”) of 4,995,000 shares of Class A common stock, 495,000 shares ofwhich were issued on October 8, 1999 upon the exercise on October 6, 1999 of anoption to purchase additional shares that the Company granted to theunderwriters of the offering.  Inconnection with the offering, the Company registered the Class A common stockunder the Securities Exchange Act of 1934.

             The IPO resulted in gross proceeds of approximately$40.0 million, of which approximately $2.8 million was applied to theunderwriting discount and approximately $2.0 million was applied to relatedexpenses.  As a result, net proceeds ofthe offering to the Company were approximately $35.2 million.

             The Company did not make, in connection with theoffering and sale of the Class A common stock, any direct or indirect paymentsto directors or officers of the Company or, to the Company’s knowledge, theirassociates, persons owning 10% or more of any class of equity securities of theCompany or affiliates of the Company.

             From the date of the closing of the IPO through June 30,2001, the Company has utilized all $35.2 million of the offering proceeds asfollows:

•             $31.5 million to fund advertising,promotion and other marketing activities; and•             $3.7 million for capitalexpenditures, including technology and physical infrastructure.

**Item 6.  SelectedFinancial Data**

             FTD.COMwas incorporated in May 1999 to own and operate the Internet and telephonefloral and specialty gift business of FTDI. The following table sets forth selected historical data for the 1997through 1999 fiscal years for FTDI’s consumer floral order business unit andfor the 2000 and 2001 fiscal years for FTD.COM.  Although FTD.COM was not a separate company until May 1999, thefinancial statements present the operations of the businesses owned andoperated by FTD.COM as if it had been a separate entity since July 1,1996.  The financial data is qualified byreference to, and should be read in conjunction with, FTD.COM’s financialstatements and the notes to those statements and “Management’s Discussion andAnalysis of Financial Condition and Results of Operations” appearing elsewherein this Form 10-K.

| Year ended  June 30,  2001 2000 1999 1998 1997          (in  thousands, except per share data) **Statement of Operations:**           Order revenues and service fees, net of  discounts$117,517 $87,586 $45,212 $30,423 $26,230  Commissions, from FTDI8,941 7,245 4,148 -- --  Other, principally from FTDI3,836 3,374 258 240 25          Total revenues130,294 98,205 49,618 30,663 26,255  Costs of fulfillment and processing service91,756 69,925 38,848 26,324 22,283         Gross profit38,538 28,280 10,770 4,339 3,972              Operating expenses:            Marketing and promotions15,191 42,901(b)11,991 5,995 4,864   Technology development4,226(a)11,840(c)2,156 1,420 1,546   General and administrative11,864 9,750 4,983 3,239 3,267          Total operating expenses31,281 64,491 19,130 10,654 9,677         Income/(loss) from operations7,257 (36,211)(8,360)(6,315)(5,705) Interest income/(expense)1,236 1,609 (142)(177)(267)        Income/(loss) before income taxes8,493 (34,602)(8,502)(6,492)(5,972) Income tax benefit-- -- 3,055 2,597 2,389         Net income/(loss)8,493 (34,602)(5,447)(3,895)(3,583) Dividends on preferred stock-- -- 74 -- --         Net income/(loss) available to common  stockholders$8,493 $(34,602)$(5,521)$(3,895)$(3,583)        Basic net income/(loss) per share$0.18 $(0.75)$(0.13)              Diluted net income/(loss) per share$0.17 $(0.75)$(0.13)              Weighted average basic common shares outstanding47,351 45,879 40,920(d)              Weighted average diluted common shares  outstanding48,661 45,879 40,920(d)                          **Selected Statement of Operations Percentages:** Total revenues100.0%100.0%100.0%100.0%100.0%Gross profit29.6 28.8 21.7 14.2 15.1 Marketing and promotions11.7 43.7 24.2 19.6 18.5 Technology and development3.2 12.1 4.3 4.6 5.9 General and administrative9.1 9.9 10.0 10.6 12.4            **Balance Sheet Data:**Total assets$27,156 $19,219 $11,422 $2,212 $247 Total liabilities8,696 10,447 12,327 2,363 2,265 Stockholders’ equity (deficit)18,460 8,772 (905)(151)(2,018)(a)In  the second quarter of fiscal year 2001, the Company recorded a one-time $0.5  million gain, reflected in technology development expenses, attributable to  the settlement of a third party vendor cancellation fee for less than the  amount originally accrued in the fourth quarter of fiscal year 2000.  (b)In  the fourth quarter of fiscal year 2000, the Company terminated one of its  Internet portal distribution agreements.   In conjunction with this termination, the Company recorded a $2.3  million one-time charge, reflected in marketing and promotions expenses.  (c)In  the fourth quarter of fiscal year 2000, the Company recorded a one-time $4.4  million charge, reflected in technology development expenses, associated with  the write-off of development work related to an unlaunched version of its Web  site.  (d)The 1999 pro forma weighted average basic and  diluted common shares outstanding consist of 40,920,000 shares of common  stock issued in conjunction with the incorporation of the Company on May 19,  1999, retroactively adjusted to reflect the 12-for-1 split of the FTD.COM  Class B common stock as discussed in Note 6 of the notes to the financial  statements.
**Item 7.  Management’sDiscussion and Analysis of Financial Condition and Results of Operations.**

             Thefollowing discussion should be read in conjunction with the financialstatements and the notes to those statements that appear elsewhere in this Form10-K.  The following discussion containsforward–looking statements that reflect the Company’s plans, estimatesand beliefs.  The Company’s actualresults could differ from those discussed in the forward–lookingstatements.  Factors that could cause orcontribute to any differences include, but are not limited to, those discussedunder the caption “Forward-looking statements” and elsewhere in this Form 10-K.

**Overview**

             FTD.COMis an Internet and telephone marketer of flowers and specialty gifts, whichbegan selling products directly to consumers through the 1-800-SEND-FTDtoll-free telephone number in 1993 and electronically to consumers through the *www.ftd.com* Web site in 1994.  The Company offers same-day delivery offloral orders to nearly 100% of the U.S. population.  The majority of orders are fulfilled by a group of independentFTD florists who adhere to FTD.COM’s quality and service standards.  The Company offers over 400 floralarrangements and over 800 specialty gift items, including gourmet gift baskets,holiday gift sets, bath and beauty products, garden products and stuffed animals.  Product offerings are available at pricesranging from $17.99 to approximately $500.00.

             TheCompany is a majority-owned subsidiary FTDI. FTDI is a wholly-owned subsidiary of IOS.  The Company was incorporated as a Delaware corporation in May1999 and at that time began to retain its own earnings.  In consideration for the receipt of40,920,000 shares of Class B common stock (as adjusted to reflect a 12-for-1stock split on July 30, 1999), FTDI contributed to the Company the assets andliabilities relating to the consumer floral order and specialty gift productbusiness.

             Thefinancial statements for fiscal years prior to the fiscal year ended June 30,2000 have been prepared as if the Company operated as a stand-alone entitysince the inception of its business. The financial information prior to the fiscal year ended June 30, 2000may not necessarily reflect the financial position, results of operations orcash flows of the Company in the future or what the financial position, resultof operations or cash flows of the Company would have been if it had been aseparate, stand-alone corporation during the periods presented.

             Inview of the rapidly changing nature of the Company’s business, its limitedoperating history and the seasonality of its business, the Company believesthat comparisons of operating results for any period with those of thepreceding period or the same period of the preceding year are not necessarilymeaningful and should not be relied upon as an indication of futureperformance.  Revenues and operatingresults may vary from quarter to quarter due to a number of factors, some ofwhich are beyond the Company’s control. This fluctuation is primarily attributable to increased sales andadvertising expenditures during the popular floral and gift holiday seasons inthe fiscal quarters ending March 31, June 30 and December 31.

             Productinventory is maintained by the Company’s fulfilling florists and other thirdparty manufacturers or distributors.  Asa result, the Company does not incur ongoing expenses related to the managementof that inventory and is not exposed to risks of product obsolescence orspoilage.

             Ordersplaced through the Company’s Web site or 1-800-SEND-FTD typically are paid forusing a credit card.  When a customermakes a purchase that will be fulfilled by an FTD florist, the Companyprocesses the order, charges the customer’s credit card and transmits the orderto FTDI’s Mercury Network.  The MercuryNetwork then transmits the order to the fulfilling florist.  The Company charges the customer a servicefee of $7.99 for floral orders placed through the Web site and $9.99 for floralorders placed through 1-800-SEND-FTD, prior to any promotional discounts.

             Ordersfrom the Company’s specialty gift selection are fulfilled by a manufacturer ora third party distributor based on a pre-negotiated price.  The Company charges the customer shippingand handling fees for these specialty gift product orders.  Amounts charged to the customer for theproduct and shipping and handling are recorded as revenue while the pre-negotiatedprice of the product and the costs incurred for shipping and handling arerecorded as costs of fulfillment and processing services.  Order revenues and service fees are reportednet of discounts.

             TheCompany recognizes 100% of the order value as revenue and recognizes theassociated costs for fulfillment and processing services when the order isfulfilled.  Processing services costs primarily consist of fees due toFTDI for processing services and amounts related to processing orders throughthe Company’s toll-free telephone number, including the cost of the internalcall center and amounts paid to external third party call centers and FTDI forutilization of their call center.

             Commissionrevenues represent a $5.00 commission paid to the Company by FTDI for eachfloral order that the Company clears through the FTD Clearinghouse, pursuant to an incentive program ineffect from July 1998 through September 1999 and a commission agreement ineffect since October 1999, which expires on June 30, 2002.  This agreement will automatically renew onJune 30, 2002 for a three-year period ending June 30, 2005, unless notice ofelection not to renew is given by FTDI or the Company by December 31,2001.  FTDI is under no obligation topay these commissions once the commission agreement expires.  There have been no discussions between FTDIand the Company regarding the parties’ intentions with respect to the December31 notice of non-renewal deadline.

             Infiscal year 2001, the Company shifted to a more balanced marketing programfocused on both customer acquisition and retention, resulting in a reduction ofits marketing and promotions expenditures due to a decrease in offlineadvertising.  In fiscal year 2000, theCompany deployed an integrated marketing campaign focused on customeracquisition.  In fiscal years 2001 and2000, the Company’s marketing programs utilized a varying mix of offline,online, direct and customer loyalty marketing strategies.  Marketing and promotions expenses consistedof allocations from FTDI in fiscal years prior to fiscal year 2000.  Pursuant to the Intercompany ServicesAgreement, effective as of June 1, 1999, FTDI no longer allocates any of itsmarketing and promotions costs to the Company.

             Technologydevelopment expenses consist of hosting fees and non-capitalizable costsrelated to improvements in the Company’s Web site.  In fiscal year 2000, technology development expenses alsoincluded costs associated with the write-off of development work related to anunlaunched version of the Company’s Web site. In fiscal years prior to fiscal year 2000, technology developmentexpenses were principally comprised of allocated technology costs from FTDIrelated to shared systems and personnel.

             Generaland administrative expenses primarily consist of direct corporate expenses,customer service costs, royalty expenses paid to FTDI pursuant to the TrademarkLicensing Agreement with FTDI and amounts charged to the Company in connectionwith services provided to the Company by FTDI, related to the utilization ofFTDI resources, including customer service, executive, accounting, legal andadministrative personnel, space and equipment rental, facilities expenses,recruiting expenses, professional fees and other corporate expenses, pursuantto the Intercompany Services Agreement.

             Interestexpense for periods prior to fiscal year 2000 was allocated using FTDI’sweighted average interest rate applied to average stockholder’s deficit, whichrepresented FTDI’s cumulative funding of the Company’s cash requirements andresults of operations until the date of incorporation.

             Forperiods prior to the Company’s incorporation on May 19, 1999, cumulative taxeshave been settled through stockholder’s net deficit.  For periods subsequent to the Company’s incorporation, taxes arerecognized pursuant to the terms of the amended Tax Sharing Agreement amongFTDI, IOS and the Company, which provides that the Company will pay its taxliability computed as if it were filing a separate return.  Under that agreement, IOS will refund anytax benefits attributable to the Company, provided that the Company would haverealized the benefits had the Company filed its own Federal income taxreturn.  At June 30, 2001, there were notax-related amounts currently payable to or receivable from IOS.

**Results of Operations – Year ended June 30, 2001 compared toyear ended June 30, 2000**

***TotalRevenues***
 Year ended June 30,        2001 2000 % Change      (in thousands)   Order  revenues and service fees, net of discounts$117,517 $87,586 34%Commissions,  from FTDI8,941 7,245 23%Other,  from FTDI3,836 3,374 14%     Total  revenues$130,294 $98,205 33%     
             Totalrevenues increased $32.1 million, or 33%, for the fiscal year ended June 30,2001 compared to the prior fiscal year. The increase was primarily attributable to increases in order volume andaverage order value.

             Orderrevenues and service fees, net of discounts, increased $29.9 million, or 34%,for the fiscal year ended June 30, 2001 compared to the prior fiscal year.  Total order volume was 2,011,631 for thefiscal year ended June 30, 2001, representing a 29% increase over the priorfiscal year order volume of 1,557,649. The increase was primarily a result of an increase in Internet orders of45% over the prior fiscal year, partially offset by a decrease in telephoneorders.  Internet orders were 85% oftotal orders for the fiscal year ended June 30, 2001 compared to 76% for theprior fiscal year.  Average order valueincreased 4% for the fiscal year ended June 30, 2001 to $58.42 per order from$56.23 per order for the prior fiscal year.

             Commissionrevenues, which consist of commissions paid to the Company by FTDI, increased$1.7 million, or 23%, for the fiscal year ended June 30, 2001 compared to theprior fiscal year.  The increase incommission revenues paid by FTDI to the Company was due to the increase infloral order volume.  Pursuant to anincentive program in effect from July 1998 through September 1999 and acommission agreement in effect since October 1999, FTDI pays the Company a$5.00 commission on every floral order that the Company clears through the FTDClearinghouse.  Commission revenuesrepresented 7% of total revenues for both the fiscal year ended June 30, 2001and 2000.

             Otherrevenues increased $0.4 million, or 14%, for the fiscal year ended June 30,2001 compared to the prior fiscal year. The increase was attributable to an increase in rebates received fromFTDI for floral orders processed through FTDI’s credit card program, which havealso been processed through the FTD Clearinghouse.  The rebates received are based on a percentage of the valueprocessed through the credit card program. Also included in other revenues are fees paid by FTDI to the Company forthe hosting of florists’ Web sites through the *www.ftd.com* Web site.  The fees received in fiscal year 2001related to the hosting of florists’ Web sites remained consistent with thosereceived in fiscal year 2000.
******Costs ofFulfillment and Processing Service***
 Year ended June 30,        2001 2000 % Change      (in thousands)   Costs  of fulfillment and processing service$91,756 $69,925 31%
             Costsof fulfillment and processing service increased $21.9 million, or 31%, for thefiscal year ended June 30, 2001 compared to the prior fiscal year.  The increase was primarily attributable toincreases in order volume and average order value.  Gross profit margins increased to 29.6% for the fiscal year endedJune 30, 2001 compared to 28.8% for the prior fiscal year.  The increase in gross profit margins was duein part to an increase in specialty gift orders, which typically have a highergross profit margin, as well as a reduction in order processing expenses due toa decrease in the total number of phone orders.  Specialty gift orders comprised 9.7% of orders in fiscal year2001 compared to 5.2% in fiscal year 2000.

***Marketing andPromotions***
 Year ended June 30,        2001 2000 % Change      (in thousands)   Marketing  and promotions$15,191 $42,901 (65%)
             Excludinga $2.3 million one-time charge in fiscal year 2000 related to the terminationof one of the Company’s Internet portal distribution agreements, marketing andpromotions expenses decreased $25.4 million, or 63%, for the fiscal year endedJune 30, 2001 compared to the prior fiscal year.  The decrease was primarily due to a decrease in offlineadvertising expenses, which resulted from the Company’s shift from a marketingprogram primarily focused on customer acquisition to a more balanced programfocused on both customer acquisition and retention.

             Complementingthe Company’s current marketing program are the independent, though closelyaligned, marketing efforts of FTD.COM’s parent company, FTDI, which are focusedon promoting the FTD brand.  Thismarketing synergy reduces the need for FTD.COM to separately promote its brandand has allowed FTD.COM to focus its marketing efforts on a more balancedprogram of customer acquisition and retention.

             Inconnection with the marketing and promotional efforts of the Company and itsparent, the total customer base (defined as all persons who have purchased atleast once through the *www.ftd.com*Web site or the 1-800-SEND-FTD telephone number) increased by 42%, or 1,009,580customers, to 3,439,113 customers as of June 30, 2001 from 2,429,533 customersas of June 30, 2000.

***TechnologyDevelopment***
 Year ended June 30,        2001 2000 % Change      (in thousands)   Technology  development$4,226 $11,840 (64%)
             Excludinga $0.5 million one-time gain recorded in fiscal year 2001 and a $4.4 millionone-time charge recorded in fiscal year 2000, technology development expensesdecreased $2.7 million, or 36%, for the fiscal year ended June 30, 2001compared to the prior fiscal year.  Thedecrease was primarily due to a higher level of prior year expenses associatedwith non-capitalizable costs related to an unlaunched version of the Company’sWeb site and lower per transaction costs associated with the hosting of the Website in fiscal year 2001.  The decreasewas partially offset by an increase in fiscal year 2001 costs related to thehiring of additional employees in the technology area.  These additional employees were primarilyhired in the third quarter of fiscal year 2000.  The one-time gain of $0.5 million was attributable to thesettlement of a third-party vendor cancellation fee for less than the amountoriginally accrued in the fourth quarter of fiscal year 2000.  This original accrual was part of the $4.4million one-time charge recorded in the fourth quarter of fiscal year 2000associated with the write-off of development work related to the unlaunchedversion of the Company’s Web site.

***General and Administrative***
 Year ended June 30,        2001 2000 % Change      (in thousands)   General  and administrative$11,864 $9,750 22%
             Generaland administrative expenses increased $2.1 million, or 22%, for the fiscal yearended June 30, 2001 compared to the prior fiscal year.  $1.1 million of this increase was due to anincrease in deferred compensation expense related to restricted stock grantsmade to certain employees of the Company in the fourth quarter of fiscal year2000.  In addition, customer servicecosts and royalty expenses increased due to the 29% growth in order volume forthe fiscal year ended June 30, 2001, compared to the prior fiscal year.  The increase was partially offset byefficiencies realized in the current fiscal year related to reductions in otheradministrative expenses.

**Results of Operations – Year ended June 30, 2000 compared toyear ended June 30, 1999**

***TotalRevenues***
 Year ended June 30,        2000 1999 % Change      (in thousands)   Order  revenues and service fees, net of discounts$87,586 $45,212 94%Commissions,  from FTDI7,245 4,148 75%Other,  principally from FTDI3,374 258 N/A      Total  revenues$98,205 $49,618 98%     
             Totalrevenues increased $48.6 million, or 98%, for the fiscal year ended June 30,2000 compared to the prior fiscal year. The increase was primarily attributable to increases in order volume andaverage order value.

             Orderrevenues and service fees, net of discounts, increased $42.4 million, or 94%,for the fiscal year ended June 30, 2000 compared to the prior fiscal year.  Total order volume was 1,557,649 for thefiscal year ended June 30, 2000, representing an 82% increase over the priorfiscal year order volume of 856,761. The increase was primarily a result of an increase in Internet orders of160% over the prior fiscal year, partially offset by a decrease in telephoneorders.  Internet orders were 76% oftotal orders for the fiscal year ended June 30, 2000 compared to 53% for theprior fiscal year.  Average order valueincreased 7% for the fiscal year ended June 30, 2000 to $56.23 per order from$52.77 per order in the prior fiscal year.

             Commissionrevenues increased $3.1 million, or 75%, for the fiscal year ended June 30,2000 compared to the prior fiscal year. The increase in commission revenues paid by FTDI to the Company was dueto the increase in order volume. Pursuant to an incentive program in effect from July 1998 throughSeptember 1999 and a commission agreement in effect since October 1999, FTDIpays the Company a $5.00 commission on every floral order that the Companyclears through the FTD Clearinghouse. Commission revenues represented 7% and 8% of total revenues for thefiscal years ended June 30, 2000 and 1999, respectively.

             Otherrevenues increased $3.1 million for the fiscal year ended June 30, 2000compared to the prior fiscal year.  Theincrease in other revenues was primarily due to fees paid by FTDI to theCompany, effective July 1, 1999, relating to the hosting of florists’ Web sitesthrough the *www.ftd.com*Internet Web site.  Also included inother revenues are rebates received from FTDI for floral orders processedthrough FTDI’s credit card program, which have also been processed through theFTD Clearinghouse.

***Costs ofFulfillment and Processing Service***
 Year ended June 30,        2000 1999 % Change      (in thousands)   Costs  of fulfillment and processing service$69,925 $38,848 80%
             Costsof fulfillment and processing service increased $31.1 million, or 80%, for thefiscal year ended June 30, 2000 compared to the prior fiscal year.  The increase in fulfillment services costswas primarily due to increases in order volume and average order value,partially offset by a change in the amount paid to fulfilling florists.  Gross profit margins increased to 28.8% forthe fiscal year ended June 30, 2000 compared to 21.7% for the prior fiscalyear.  The increase in the gross marginpercentage is primarily due to an increase in other revenues, which have no directlyassociated costs, and a change in the amount paid per order to fulfillingflorists.  Effective June 30, 1999, theamount paid to florists was changed to bring the Company in line with industrystandards.

***Marketing andPromotions***
 Year ended June 30,        2000 1999 % Change      (in thousands)   Marketing  and promotions$42,901 $11,991 258%
             Excludinga $2.3 million one-time charge, marketing and promotions expenses increased$28.6 million for the fiscal year ended June 30, 2000 compared to the priorfiscal year.  The increase was primarilydue to an increase in offline and online advertising expenses that were focusedon customer acquisition.  The $2.3million one-time charge recorded in the fourth quarter of fiscal year 2000 wasrelated to the termination of one of the Company’s Internet portal distributionagreements.  In connection withmarketing and promotional spending, the total customer base increased by 66%,or 964,071 customers, to 2,429,533 customers as of June 30, 2000 from 1,465,462customers as of June 30, 1999.
******TechnologyDevelopment***
 Year ended June 30,        2000 1999 % Change      (in thousands)   Technology  development$11,840 $2,156 449%
             Excludinga $4.4 million one-time charge associated with the write-off of developmentwork related to an unlaunched version of the Company’s Web site, technologydevelopment expenses increased $5.2 million for the fiscal year ended June 30,2000 compared to the prior fiscal year. The increase was primarily related to increased costs associated withthe hosting of the Company’s Web site due to increased order volume andnon-capitalizable costs related to the unlaunched version of the Company’s Website.

***General andAdministrative***
 Year ended June 30,        2000 1999 % Change      (in thousands)   General  and administrative$9,750 $4,983 96%
             Generaland administrative expenses increased $4.8 million, or 96%, for the fiscal yearended June 30, 2000 compared to the prior fiscal year.  The increase was primarily due to increasedexpenses related to the hiring of additional employees in the executive,administrative and business development areas. Additionally, customer service costs and royalty expenses increased dueto the 82% growth in order volume for the fiscal year ended June 30, 2000compared to the prior fiscal year.

**Liquidity and Capital Resources**

             AtJune 30, 2001, the Company had cash and cash equivalents of $25.8 million,compared to $18.0 million at June 30, 2000. The Company’s liquidity requirements primarily consist of workingcapital needs, including the funding of marketing and promotions expenses andexpenditures related to software development costs and computer equipment.  For the fiscal year ended June 30, 2001, theCompany made capital expeditures of $0.3 million related to softwaredevelopment costs and computer equipment. For the fiscal year ended June 30, 2000, the Company made capitalexpenditures of $3.7 million related to software development costs, of which$3.5 million was written-off as part of the $4.4 million one-time chargeassociated with the development work related to an unlaunched version of theCompany’s Web site.  The Company hasfuture commitments of $0.3 million related to Internet distribution agreements,as described in Note 3 of the notes to the financial statements included inthis Form 10-K.

             Netcash provided by operating activities was $8.1 million for the fiscal yearended June 30, 2001, primarily attributable to net income of $8.5 million.  Net cash used in operating activities was$22.1 million for the fiscal year ended June 30, 2000, primarily attributableto a net loss of $34.6 million, partially offset by a $5.3 million increase inaccounts payable and the $4.4 million one-time charge associated withdevelopment work related to an unlaunched version of the Company’s Web site.

             Netcash used in investing activities was $1.4 million for the fiscal year endedJune 30, 2001, attributable to $1.1 million of promissory notes related toloans made by the Company to certain officers issued in the fourth quarter offiscal year 2001, as discussed in Note 8 of the notes to the financialstatements, and $0.3 million of capital expenditures related to softwaredevelopment costs and computer equipment. Net cash used in investing activities was $3.7 million for the fiscalyear ended June 30, 2000, and consisted of software development costs, whichwere capitalized in accordance with Statement of Position 98-1, *Accounting for the Costs of Computer SoftwareDeveloped or Obtained for Internal Use*, and Emerging Issues TaskForce (“EITF”) 00-02, *Accounting for WebSite Development Costs*. Subsequent to capitalization in fiscal year 2000, $3.5 million of thecapitalized assets were written-off as part of the $4.4 million one-time chargein the fourth quarter of fiscal year 2000, associated with the development workrelated to an unlaunched version of the Company’s Web site.

             Netcash provided by financing activites was $1.0 million for the fiscal year endedJune 30, 2001, primarily attributable to book overdrafts of $1.2 million, whichrelate to checks issued but not presented to banks, as discussed in Note 2 ofthe notes to the financial statements. Net cash provided by financing activities was $35.6 million for thefiscal year ended June 30, 2000, which was the result of the net proceeds fromthe IPO, including amounts attributable to the exercise of the underwriters’over-allotment option.

             Infiscal year 2002, the Company intends to continue its balanced marketingcampaign focused on the retention of existing customers and acquisition of newcustomers.  Additionally, the Companyplans to continue to invest in expanding its product offerings, improving itsWeb site and improving the infrastructure supporting customer service.  The scope of these programs and investmentsis expected to be affected in the near term by the amount of future cash flowsfrom operations.  The Company believesthat its existing cash and future cash flows from operations will be sufficientto meet its liquidity needs through June 30, 2002.  However, any projections of future cash inflows and outflows aresubject to substantial uncertainty.  Inaddition, the Company, from time to time, considers acquisitions of orinvestments in complementary businesses, products, services and technologies,which may impact the Company’s liquidity requirements or cause the Company toseek to issue additional equity or debt. If the Company determines that it needs to raise additional capital, theCompany may seek to sell additional equity or raise debt from third partysources or its parent.  The sale ofadditional equity or convertible debt securities could result in dilution tothe Company’s stockholders.  Inaddition, any debt financing, if available, could involve restrictive covenants,which could adversely affect the Company’s operations.  There can be no assurance that any of thesefinancing alternatives, including raising additional capital from its parent,will be available in amounts or on terms acceptable to the Company, if atall.  If the Company is unable to raiseany needed additional capital, the Company could be required to significantlyalter its operating plan, which could have a material adverse effect on theCompany’s business, financial condition and results of operations.

**Forward-looking Statements**

             Thisannual report on Form 10-K contains certain “forward-looking statements” withinthe meaning of the Private Securities Litigation Reform Act of 1995.  These forward-looking statements reflect theCompany’s expectations regarding its results of operations, performance andbusiness prospects and opportunities. Words such as “anticipates,” “believes,” “plans,” “expects,” “estimates”and similar expressions have been used to identify these forward-lookingstatements, but are not the exclusive means of identifying thesestatements.  The forward-lookingstatements reflect the Company’s current beliefs and expectations and are basedon information currently available to the Company.  Accordingly, these statements are subject to various risks,uncertainties and other factors that could cause the Company’s actual resultsof operations, performance and business prospects and liquidity to differ fromthose expressed in, or implied by, these forward-looking statements.  Actual results of operations, performanceand business prospects and liquidity could differ materially from thoseexpressed in, or implied by, these forward-looking statements as a result ofthe success of FTD.COM’s and its parent’s marketing campaign; the Company’sability to retain customers and increase average order value; competition fromexisting and potential new competitors; levels of discretionary consumerpurchases of flowers and specialty gifts; the Company’s ability to manage orreduce its level of expenses; actual growth rates for the markets in which theCompany competes compared with forecasted growth rates; the Company’s abilityto increase capacity and introduce enhancements to its Web site; the Company’sability to integrate additional partners or acquisitions, if any areidentified, and the existence of system failures.  Additional risks, uncertainties and other factors are describedin the Company’s Registration Statement on Form S–1, as amended (File No. 333-78857),under the caption “Risk Factors.”  TheCompany makes no commitment to disclose any revisions to any forward-lookingstatements to reflect events or circumstances after the date of this documentthat may bear upon the forward-looking statements.

**Recently Issued Accounting Pronouncements**

             InMay 2000, the EITF issued EITF 00-14, *Accounting for Certain Sales Incentives*.  EITF 00-14 addresses the recognition,measurement and income statement classification of sales incentives offered bya vendor that can be used in a single exchange transaction.  EITF 00-14 is effective for annual andinterim financial periods beginning after December 15, 2001.  The Company does not expect the adoption ofEITF 00-14 will have a material effect on its results of operations.

**Item 7A.  Quantitativeand Qualitative Disclosures about Market Risk**

             Asof June 30, 2001, the Company was not party to any significant financingarrangements.  The Company maintains aportfolio of highly liquid investments in U.S. government securities, which areclassified as cash equivalents.  Giventhe short-term nature of these investments, the Company believes it is notsubject to any significant interest rate risk.

**Item 8.  FinancialStatements and Supplementary Data**

             SeeIndex to Financial Information on page F-1.

**Item 9.  Changes in andDisagreements with Accountants on Accounting and Financial Disclosure**

             None.

**PART III**

**Item 10.  Directorsand Executive Officers of the Registrant**

             Informationregarding the directors of the Company will be set forth under the caption“Election of Directors” in the Company’s proxy statement related to theCompany’s 2001 annual meeting of stockholders (the “Proxy Statement”) and isincorporated herein by reference. Information regarding executive officers of the Company is included asItem 4A of Part I as permitted by Instruction 3 to Item 401(b) of RegulationS-K.  Information required by Item 405of Regulation S–K will be set forth under the caption “Section 16(a)Beneficial Ownership Reporting Compliance” in the Proxy Statement and isincorporated herein by reference.

**Item 11.  ExecutiveCompensation**

             Informationrequired by this item will be set forth under the caption “ExecutiveCompensation” in the Proxy Statement and, except for the information under thecaptions “Executive Compensation – Compensation Committee Report on ExecutiveCompensation” and “Executive Compensation – Performance Graph,” is incorporatedherein by reference.

**Item 12.  SecurityOwnership of Certain Beneficial Owners and Management**

             Informationrequired by this item will be set forth under the caption “Security Ownershipof Certain Beneficial Owners and Management” in the Proxy Statement and isincorporated herein by reference.

**Item 13.  CertainRelationships and Related Transactions**

             Informationregarding any disclosable relationships and related transactions will be setforth under the caption “Executive Compensation - Compensation CommitteeInterlocks and Insider Participation” in the Proxy Statement and isincorporated herein by reference.

**PART IV**

**Item 14.  Exhibits,Financial Statement Schedules and Reports on Form 8-K**
(a)1.See  Index to Financial Information on page F-1. 2.See  Exhibit Index on page i.  (b)No  reports on Form 8-K were filed during the fourth quarter ended June 30, 2001.
 

 

**SIGNATURES**

             Pursuantto the requirements of Section 13 or 15(d) of the Securities Exchange Act of1934, the Registrant has duly caused this report to be signed on its behalf bythe undersigned, thereunto duly authorized on the 3rd day of August,2001.
By: /s/  CARRIE A. WOLFE    Carrie  A. Wolfe  Chief  Financial Officer
 

             Eachperson whose signature appears below hereby constitutes and appoints Michael J.Soenen and Carrie A. Wolfe, and each of them, as his or her true and lawfulattorneys-in-fact and agents, with full power of substitution andresubstitution, for him or her and in his or her name, place and stead, in anyand all capacities, to sign the Company’s Annual Report on Form 10-K for thefiscal year ended June 30, 2001 and any and all amendments thereto, and to filethe same, with all exhibits and schedules thereto, and other documentstherewith, with the Securities and Exchange Commission, and hereby grants untosuch attorneys-in-fact and agents full power and authority to do and performeach and every act and thing necessary or desirable to be done, as fully to allintents and purposes as he or she might or could do in person, hereby ratifyingand confirming all that said attorneys-in-fact and agents, or his or hersubstitutes, may lawfully do or cause to be done by virtue hereof.

             Pursuantto the requirements of the Securities Exchange Act of 1934, this report hasbeen signed below by the following persons on behalf of the Registrant and inthe capacities indicated below on the 3rd day of August, 2001.
SIGNATURE TITLE      /s/  MICHAEL J. SOENEN President,  Chief Executive Officer and Director (Principal  Executive Officer)Michael  J. Soenen     /s/  CARRIE A. WOLFE Chief  Financial Officer (Principal  Financial and Accounting Officer)Carrie  A. Wolfe     /s/  RICHARD C. PERRY Chairman  of the Board and Director  Richard  C. Perry     /s/  HABIB Y. GORGI Director  Habib  Y. Gorgi     /s/  SAMUEL I. HILL Director  Samuel  I. Hill     /s/  ROBERT L. NORTON Director  Robert  L. Norton     /s/  RICHARD M. OWEN Director  Richard  M. Owen     /s/  WILLIAM VERNON Director  William  Vernon  
 

** **

**FTD.COMINC.INDEX TO FINANCIAL INFORMATION**
      Independent Auditors’  Report   Balance Sheets as  of June 30, 2001 and 2000   Statements  of Operations for the years ended June 30, 2001, 2000 and 1999   Statements  of Cash Flows for the years ended June 30, 2001, 2000 and 1999   Statements  of Stockholders’ Equity (Deficit) for the years ended June 30, 2001, 2000 and  1999   Notes  to Financial Statements 
 

 

INDEPENDENTAUDITORS’ REPORT

The Board of Directors and StockholdersFTD.COM INC.:

             Wehave audited the accompanying balance sheets of FTD.COM INC. (a subsidiary ofFlorists Transworld Delivery, Inc.) as of June 30, 2001 and 2000, and therelated statements of operations, stockholders’ equity (deficit) and cash flowsfor each of the years in the three-year period ended June 30, 2001.  These financial statements are theresponsibility of the Company’s management. Our responsibility is to express an opinion on these financialstatements based on our audits.

             Weconducted our audits in accordance with auditing standards generally acceptedin the United States of America.  Thosestandards require that we plan and perform the audit to obtain reasonableassurance about whether the financial statements are free of materialmisstatement.  An audit includesexamining, on a test basis, evidence supporting the amounts and disclosures inthe financial statements.  An audit alsoincludes assessing the accounting principles used and significant estimatesmade by management, as well as evaluating the overall financial statementpresentation.  We believe that ouraudits provide a reasonable basis for our opinion.

             Inour opinion, the financial statements referred to above present fairly, in allmaterial respects, the financial position of FTD.COM INC. as of June 30, 2001and 2000, and the results of its operations and its cash flows for each of theyears in the three-year period ended June 30, 2001, in conformity withaccounting principles generally accepted in the United States of America.

/s/ KPMG LLP

July 20, 2001Chicago, Illinois
 

**FTD.COM INC.**

**BALANCE SHEETS**

(Inthousands, except share data)
**ASSETS**June  30,  2001 June  30,  2000         CURRENT ASSETS:     Cash  and cash equivalents$25,771 $17,961  Accounts  receivable161 417  Prepaid  expenses112 297  Distribution  agreements- 142     Total  current assets26,044 18,817         LONG-TERM ASSETS:     Officer  notes receivable1,089 -  Software  development costs and computer equipment at cost, net23 150  Other  long-term assets- 252     Total  long-term assets1,112 402      Total  assets$27,156 $19,219         **LIABILITIES AND  STOCKHOLDERS’ EQUITY**         CURRENT LIABILITIES:     Book  overdrafts$1,150 $-  Accounts  payable3,561 7,281  Payable  to FTDI2,488 1,866  Unearned  revenue222 221  Other  accrued liabilities1,275 1,079     Total  current liabilities8,696 10,447         STOCKHOLDERS’ EQUITY     Preferred  stock, $.01 par value; 5,000,000 shares authorized; no shares issued and  outstanding at June 30, 2001 or 2000- -  Class  A common stock, $.01 par value; 250,000,000 shares authorized; 8,224,614  shares issued and outstanding at June 30, 2001; 8,259,614 shares issued and  outstanding at June 30, 200082 83  Class  B convertible common stock, $.01 par value; 100,000,000 shares authorized;  40,395,000 shares issued and outstanding at June 30, 2001 and 2000404 404  Additional  paid-in capital47,893 47,994  Class  A common stock held as treasury stock, at cost; 17,871 shares at June 30,  2001; no shares at June 30, 2000(115)-  Deferred  compensation(2,455)(3,867) Retained  deficit(27,349)(35,842)    Total stockholders’ equity18,460 8,772     Total  liabilities and stockholders’ equity$27,156 $19,219    
 

See accompanyingnotes to financial statements.

 

**FTD.COM INC.**

**STATEMENTS OF OPERATIONS**

(Inthousands, except per share data)
 Year  ended June 30,    2001 2000 1999     Revenues:       Order  revenues and service fees, net of discounts$117,517 $87,586 $45,212  Commissions,  from FTDI8,941 7,245 4,148  Other,  principally from FTDI3,836 3,374 258     Total revenues130,294 98,205 49,618         Costs of fulfillment and  processing service, including expenses from FTDI of $1,787, $1,553 and $3,436  for the years ended June 30, 2001, 2000 and 1999, respectively91,756 69,925 38,848     Gross profit38,538 28,280 10,770        Operating expenses:       Marketing and promotions,  including expenses from FTDI of $3,700 for the year ended June 30, 199915,191 42,901 11,991  Technology development, including  expenses from FTDI of $402, $1,087 and $1,431 for the years ended June 30,  2001, 2000 and 1999, respectively4,226 11,840 2,156  General and administrative,  including expenses from FTDI of $3,329, $2,611 and $2,334 for the years ended  June 30, 2001, 2000 and 1999, respectively11,864 9,750 4,983     Total operating expenses31,281 64,491 19,130     Income/(loss) from operations7,257 (36,211)(8,360)Interest income/(expense)1,236 1,609 (142)    Income/(loss) before income taxes8,493 (34,602)(8,502)Income tax benefit- - 3,055     Net income/(loss)8,493 (34,602)(5,447)Dividends on preferred stock- - 74     Net income/(loss) available to common  stockholders$8,493 $(34,602)$(5,521)           Basic net income/(loss) per share of common  stock$0.18 $(0.75)$(0.13)    Diluted net income/(loss) per share of common  stock$0.17 $(0.75)$(0.13)    Weighted  average basic common shares outstanding used in the calculation of net  income/(loss) per share47,351 45,879 40,920(a)    Weighted  average diluted common shares outstanding used in the calculation of net  income/(loss) per share48,661 45,879 40,920(a)    (a)The 1999 pro forma weighted average basic and  diluted common shares outstanding consist of 40,920,000 shares of common  stock issued in conjunction with the incorporation of the Company on May 19,  1999, retroactively adjusted to reflect the 12-for-1 split of FTD.COM Class B  common stock as discussed in Note 6 of the notes to the financial statements.
 

See accompanyingnotes to financial statements.

**FTD.COM INC.**

**STATEMENTS OFCASH FLOWS**

(Inthousands)
 Year ended  June 30,    2001 2000 1999            Net income/(loss)$8,493 $(34,602)$(5,447)Adjustments  to reconcile net income/(loss) to net cash and cash equivalents provided  by/(used in) operating activities:       Deferred compensation expense1,310 199 -  Depreciation and amortization404 - -  Web site one-time charge/(gain)(524)4,403 -  Changes in assets and liabilities:       Accounts receivable256 (184)(20) Prepaid expenses185 (82)(195) Distribution agreements142 1,565 273  Other long-term assets252 (252)-  Accounts payable(3,196)5,260 303  Payable to FTDI622 1,380 22  Unearned revenue1 92 129  Other accrued liabilities196 83 435     Net cash and cash equivalents provided by/(used in) operating  activities8,141 (22,138)(4,500)    Net cash and cash equivalents used in investing activities:       Officer notes receivable(1,089)- -  Software development costs and computer equipment(277)(3,711)-     Net cash and cash equivalents used in investing activities(1,366)(3,711)-     Net cash and cash equivalents provided by financing activities:       Deferred offering expenses- 1,062 (1,062) Accrued offering expenses- (638)-  Issuance of Series A preferred stock- - 9,000  Contributions from FTDI- - 4,767  Proceeds from the issuance of Class A common stock- 35,181 -  Book overdrafts1,150 - -  Treasury stock repurchases(115)- -     Net cash and cash equivalents provided by financing activities1,035 35,605 12,705     Net increase in cash and cash equivalents7,810 9,756 8,205        Cash and cash equivalents, beginning of year17,961 8,205 -     Cash and cash equivalents, end of year$25,771 $17,961 $8,205     
 

See accompanying notes tofinancial statements.

**FTD.COM INC.**

**STATEMENTS OF STOCKHOLDERS’EQUITY (DEFICIT)**

(Inthousands)
 Class  A common stock Class  B common stock   Treasury  stock                        Shares Amount Shares Amount Additional  paid-in capital Shares Amount Deferred  compen- sation Stock-  holder’s net deficit Retained  deficit Total stock-holders’ equity  (deficit)             Balance  at June 30, 1998- $- - $- $- - $- $- $(151)$- $(151)Contributions  from FTDI                4,767   4,767 Loss  before income taxes from July 1, 1998 to May 18, 1999                (7,637)  (7,637)Tax  benefit contributed to FTDI from July 1, 1998 to May 18, 1999                3,055   3,055 Issuance  of common stock    3,410 34         (34)  - Retroactive  adjustment for the 12-for-1 stock split    37,510 375           (375)- Net  loss from May 19, 1999 to June 30, 1999                  (865)(865)Dividends  - Series A preferred stock                  (74)(74)            Balance  at June 30, 1999-  - 40,920  409  - -  -  -  -  (1,314) (905)            Net  loss                  (34,602)(34,602)Conversion  of Series A preferred stock1,385 14     8,986         74 9,074 Issuance  of Class A common stock4,995 50     35,131           35,181 Stock  compensation plans1,355 14     3,877     (4,066)    (175)Amortization  of deferred compensation              199     199 Conversion  of Class B common stock to Class A common stock525 5 (525)(5)            -             Balance  at June 30, 20008,260  83 40,395  404  47,994 -  -  (3,867) -  (35,842) 8,772             Net  income                  8,493 8,493 Treasury  stock repurchases           (18) (115)      (115)Amortization  of deferred compensation              1,310     1,310 Forfeiture  of restricted stock(35)(1)    (101)    102     -             Balance  at June 30, 20018,225 $82 40,395 $404 $47,893 (18)$(115)$(2,455)$- $(27,349)$18,460             
 

Seeaccompanying notes to financial statements.

**FTD.COMINC.NOTES TO FINANCIAL STATEMENTS**

**Note 1.  Descriptionof Business**

             FTD.COMINC. (“the Company” or “FTD.COM”) is an Internet and telephone marketer offlowers and specialty gifts, which began selling products directly to consumersthrough the 1-800-SEND-FTD toll-free telephone number in 1993 andelectronically to consumers through the *www.ftd.com*Web site in 1994.  The Company offerssame-day delivery of floral orders to nearly 100% of the U.S. population.  The majority of orders are fulfilled by agroup of independent FTD florists who adhere to FTD.COM’s quality and servicestandards.  The Company offers over 400floral arrangements and over 800 specialty gift items, including gourmet giftbaskets, holiday gift sets, bath and beauty products, garden products andstuffed animals.  Product offerings areavailable at prices ranging from $17.99 to approximately $500.00.

             TheCompany is a majority-owned subsidiary of Florists’ Transworld Delivery,Inc.  (“FTDI”).  FTDI is a wholly-owned subsidiary of IOSBRANDS Corporation (“IOS”).  The Companywas incorporated as a Delaware corporation in May 1999 and at such time beganto retain its own earnings.  Inconsideration for the receipt of 40,920,000 shares of Class B common stock (asadjusted to reflect a 12-for-1 stock split on July 30, 1999), FTDI contributedto the Company the assets and liabilities relating to the consumer floral orderand specialty gift product business.

**Note 2.  Summary ofSignificant Accounting Policies**

**Basis of Presentation**

             Fromthe Company’s inception until June 1, 1999, FTDI or its predecessor providedfunding for working capital and the Company participated in FTDI’s central cashmanagement system.  As a part of FTDI’scentral cash management system, all cash generated from and cash required tosupport the Company’s operations was deposited and received through FTDI’scorporate operating cash accounts.  As aresult, there were no separate bank accounts or records for thesetransactions.  Accordingly, the amountsrepresented by the caption “Contributions from FTDI” in the Company’sstatements of cash flows represent the net effect of all cash transactionsbetween the Company and FTDI from inception until June 1, 1999.  From June 1999 until the closing of theCompany’s initial public offering of its Class A common stock (“IPO”), theCompany funded its working capital needs through the use of proceeds from thesale of preferred stock.

             Certainexpenses reflected in the financial statements include allocations of expensesfrom FTDI.  These allocations take intoconsideration personnel, business volume or other appropriate bases andgenerally include administrative expenses related to general management,insurance, information management and other services provided to the Company byFTDI.  Interest expense for fiscal yearsprior to the fiscal year ended June 30, 2000 reflects interest associated withthe Company’s share of the aggregate borrowings of FTDI for each of the periodspresented.  Allocations of expenses areestimates based on management’s best assessment of actual expenses incurred bythe Company.

             Effectiveas of June 1, 1999, expenses related to services covered by the IntercompanyServices Agreement were charged to the Company pursuant to the termsthereof.  Amounts owed to FTDI pursuantto the Intercompany Services Agreement are included in the balance sheetcaption “Payable to FTDI.”

             Thefinancial statements for fiscal years prior to the fiscal year ended June 30,2000 have been prepared as if the Company operated as a stand-alone entitysince its inception.  The financialinformation for the fiscal years prior to the fiscal year ended June 30, 2000may not necessarily reflect the financial position, results of operations orcash flows of the Company in the future or what the financial position, resultof operations or cash flows of the Company would have been if it had been aseparate, stand-alone corporation during the periods presented.

**Cash and Cash Equivalents**

             Cashand cash equivalents consist of deposits with banks and short-term investmentswith original maturities of three months or less.

**Accounts Receivable**

             Accountsreceivable include amounts owed from corporate customers for purchases offloral, specialty gift products and gift certificates.  The credit risk associated with collectionof accounts receivable is minimal due to the composition of the Company’scustomer base.

**Distribution Agreements**

             TheCompany, and FTDI on behalf of the Company in fiscal years prior to fiscal year2000, has entered into distribution agreements with various vendors.  These distribution agreements relate toInternet advertising.  The costs ofthese agreements are amortized over their respective useful lives, which rangefrom one to two years, using the straight-line method.  The Company periodically evaluates whetherevents and circumstances indicate that the remaining balances of intangiblesmay not be recoverable or that the remaining estimated useful lives may warrantrevision.  When these factors indicatethat intangibles should be evaluated for possible impairment, the Company usesan estimate of undiscounted future cash flows to measure whether theintangibles are recoverable, and over what period.  The Company has determined that, as of June 30, 2001, there hasbeen no impairment in the carrying value of the distribution agreements.

**Software Development Costs and Computer Equipment**

             Softwaredevelopment costs and computer equipment are recorded at cost.  Depreciation and amortization is providedfor financial reporting purposes on a straight-line basis over the estimateduseful lives of the assets.  Computerhardware is depreciated over 24 months and computer software is amortized over 36months.

             Maintenanceand repairs are charged to expense as incurred.  Significant improvements are capitalized and depreciated over theremaining useful lives of the respective assets.

             TheCompany has adopted the provisions of Statement of Position (“SOP”) 98-1, *Accounting for the Costs of Software Developed orObtained for Internal Use* and Emerging Issues Task Force No. 00-02, *Accounting for Web Site Development Costs*.  Accordingly, certain costs incurred in theplanning and development stage of internal-use computer software, including Website development, are expensed as incurred. The Company capitalized $3.7million of Web site development costs incurred subsequent to the planning anddevelopment stage during fiscal year 2000. In the fourth quarter of fiscal year2000, the Company wrote off $3.5 million of these previously capitalized costsas part of the $4.4 million one-time charge associated with the developmentwork related to an unlaunched version of the Company’s Web site.

**Current Liabilities**

             Underthe Company’s cash management system outstanding checks frequently result inoverdraft balances for accounting purposes and are classified as “bookoverdrafts” in the balance sheet.

             Otheraccrued liabilities include $1,078,571 and $798,524 in employee-related costsas of June 30, 2001 and 2000, respectively.

**Income Taxes**

             TheCompany is included in the consolidated U.S. income tax return of IOS.  The provision for income taxes of theCompany has been calculated as if the Company was a stand-alone corporationfiling separate tax returns.

             TheCompany accounts for income taxes in accordance with Statement of FinancialAccounting Standards (“SFAS”) No. 109, *Accountingfor Income Taxes*.  Cumulativetaxes from the Company’s inception through its incorporation on May 19, 1999were settled through stockholder’s net deficit.  For periods subsequent to the Company’s incorporation, taxes arerecognized pursuant to the terms of the amended Tax Sharing Agreement amongFTDI, IOS and the Company, which provides that the Company will pay its taxliability computed as if it were filing a separate return.  Under that agreement, IOS will refund anytax benefits attributable to the Company, provided that the Company would haverealized the benefits had the Company filed its own Federal income tax return.

**Revenue and Cost Recognition**

*Order Revenues and Service Fees*

             Ordersplaced through the Company’s Web site or its 1-800-SEND-FTD toll-free telephonenumber typically are paid for using a credit card.  When a customer makes a purchase that will be fulfilled by an FTDflorist, the Company processes the order, charges the customer’s credit cardand transmits the order to FTDI’s Mercury Network.  The Mercury Network then transmits the order to the fulfillingflorist.  The Company charges thecustomer a service fee of $7.99 for floral orders placed through the Web siteand $9.99 for floral orders placed through 1-800-SEND-FTD, prior to anypromotional discounts.

             Ordersfrom the Company’s specialty gift selection are fulfilled by a manufacturer ora third party distributor based on a pre-negotiated price.  The Company charges the customer shippingand handling fees for these specialty gift product orders.  Amounts charged to the customer for theproduct and the shipping and handling are recorded as revenue while the pre-negotiatedprice of the product and the costs incurred for shipping and handling arerecorded as costs of fulfillment and processing services.  Order revenues and service fees are reportednet of discounts.

             TheCompany recognizes 100% of the order value as revenue and recognizes theassociated costs for fulfillment and processing services when the order isfulfilled.  Processing services costs primarily consist of fees due toFTDI for processing services and amounts related to processing orders throughthe Company’s toll-free telephone number, including the cost of the internalcall center and amounts paid to external third party call centers and FTDI forthe utilization of their call center.

*Commissions*

             Commissionrevenues represent a fee, consistent with industry practice, paid to theCompany by FTDI for floral orders that are cleared through the FTDClearinghouse.  Commission revenues wereearned pursuant to an incentive program from FTDI in effect from July 1998 thoughSeptember 1999 and currently are earned pursuant to a commission agreement withFTDI in effect since October 1999. Commission revenues are recognized when the order is fulfilled.

**Unearned Revenue**

             Unearnedrevenue at June 30, 2001 represents order revenues associated with floral andspecialty gift orders that were placed prior to June 30, 2001 but were to bedelivered after such date.  This revenuewill be recognized, together with the related cost of goods sold, when theorder is fulfilled.

**Marketing and Promotions Costs**

             Marketingand promotions costs, which principally consist of costs related to advertisingand affinity programs, are charged to expense as incurred and include anallocation from FTDI of $3.7 million in fiscal year 1999.  Pursuant to the Intercompany ServicesAgreement, effective as of June 1, 1999, FTDI no longer charges any of itsmarketing and promotions costs to the Company.

**Use of Estimates**

             Managementof the Company has made a number of estimates and assumptions relating to thereporting of assets, liabilities, revenues and expenses and the disclosure ofcontingent assets and liabilities in connection with the preparation of thesefinancial statements in conformity with accounting principles generallyaccepted in the United States of America. Actual results could differ from those estimates.

**Reclassifications**

             Certainamounts in the fiscal year 1999 financial statements have been reclassified toconform to the fiscal year 2001 and 2000 presentation.

**Concentration of Customers and Credit Risks**

             TheCompany’s customers are comprised of consumers that utilize its Web site ortoll-free number to purchase products. Financial instruments, which potentially subject the Company toconcentrations of credit risk, principally consist of accounts receivable.  As of June 30, 2001 and 2000, there were nosignificant concentrations of accounts receivable or related credit risks.

**Concentration of Suppliers**

             TheCompany is dependent upon certain significant vendors to supply products,specifically, the ability of FTD florists to fulfill the Company’s floralorders and the ability of manufacturers or third party distributors to fulfillthe Company’s specialty gift orders.  Inaddition, the Company utilizes the communication network of FTDI as an importantcomponent of its operations.  If FTDIfails to provide these services satisfactorily, the Company would be requiredto obtain these services from another provider, or perform these services. Ifthe Company chose to obtain these services from another provider, additionalcosts may be incurred and the Company may be unable to obtain these services oncommercially reasonable terms.  If theCompany chose to perform these services, the Company may not be able to performthem adequately. In either case, a change could cause a delay in order processingand fulfillment and a possible reduction in the quality of service, which couldadversely affect the Company’s business, results of operations and financialcondition.

             TheCompany currently utilizes hardware, software and services that support its Website, an important component of its operations, from a third party vendor underan operating service agreement. Although there are a limited number of Web site service companies,management believes that other vendors could provide the Company with these Website services on comparable terms.  Theterms of the current operating service agreement provide for variable payments,which are based on the number of completed orders, and an annual term withrenewal options.  The cost to theCompany of these services is derived from the volume of ordertransactions.  A change in Web siteservice companies, however, could cause a possible reduction in the quality ofservice or a possible increase in price, which could adversely affect operatingresults.

**Fair Value of Financial Instruments**

             Financialinstruments, including accounts receivable, officer notes receivable, accountspayable and accrued liabilities are reflected in the financial statements atcarrying or contract value.  Thosevalues were not materially different from their fair values.

**Stock-Based Compensation**

             TheCompany has adopted the provisions of SFAS No. 123, *Accounting for Stock-Based Compensation*.  SFAS No. 123 allows entities to continue toapply the provisions of Accounting Principles Board (“APB”) Opinion No. 25, *Accounting for Stock Issued to Employees*,and provide pro forma net income and pro forma earnings per share disclosuresfor employee stock option grants as if the fair value-based method defined inSFAS No. 123 has been applied.  TheCompany has elected to continue to apply the provisions of APB Opinion No. 25.

**Basicand Diluted Income/(Loss) Per Share**

             TheCompany computes net income/(loss) per share in accordance with the provisionsof SFAS No. 128, *Earnings per Share*.  Under the provisions of SFAS No. 128, thecomputation of basic and diluted net income/(loss) per share for the fiscalyears ended June 30, 2001, 2000 and 1999 are as follows:
 Year  ended June 30,      2001 2000 1999        (in  thousands, except per share data)         Net income/(loss) available to common  stockholders$8,493 $(34,602)$(5,521)              Weighted average basic shares of common stock  outstanding47,351 45,879 40,920(a) Effect of dilutive securities:        Employee  stock options30 - -   Unvested  restricted shares of Class A common stock1,280 - -       Weighted average diluted shares of common  stock outstanding48,661 45,879 40,920(a)              Basic net income/(loss) per share of common  stock$0.18 $(0.75)$(0.13)      Diluted net income/(loss) per share of common  stock$0.17 $(0.75)$(0.13)             (a)1999 pro forma weighted average basic and  diluted common shares outstanding consist of 40,920,000 shares of common  stock issued in conjuction with the incorporation of the Company on May 19,  1999, retroactively adjusted to reflect the stock split described in Note 6.
            Shares issuable fromsecurities that could potentially dilute basic earnings per share in the futurethat were not included in the computation of earnings per share because theireffect was anti-dilutive consisted of 55,000 shares, 1,503,000 shares and1,384,614 shares at June 30, 2001, 2000 and 1999, respectively.

**Note 3.  DistributionAgreements**

             TheCompany has entered into Internet distribution agreements pursuant to which theCompany would receive various services, including advertising space on shoppingand search-oriented Web sites, portal links to the Company’s Web site andmarketing of the Company’s product offerings through co-branded Web sites.  Pursuant to the terms of these agreements,at June 30, 2001, the Company had future commitments to pay total fixed fees of$0.3 million, which are due in fiscal year 2002.  The Company records expenses related to the fixed fee portion ofthese agreements ratably over the contract term.  During the year ended June 30, 2001, the Company recorded $6.3million of marketing and promotions expense related to the fixed fee portionsof these distribution agreements, compared to $12.9 million during the fiscalyear ended June 30, 2000, including a one-time charge in the fourth quarter offiscal year 2000 of $2.3 million related to the termination of one of theCompany’s Internet portal distribution agreements.  In addition, some of these distribution agreements obligate theCompany to pay variable fees based on a percentage of net order revenues (asdefined in the various agreements) generated as a result of each suchdistribution agreement.

**Note 4.  Series ACumulative Redeemable Convertible Preferred Stock**

             OnMay 19, 1999, in connection with the Company’s incorporation, 5,000,000 sharesof preferred stock were authorized. Additionally, on May 19, 1999, the Company designated 90,000 shares ofpreferred stock as Series A 8% Cumulative Redeemable Convertible PreferredStock.  On May 20, 1999, 30,000 sharesof this Series A preferred stock were issued and sold to an investor forconsideration of $3.0 million.  On May25, 1999, 60,000 shares of this Series A preferred stock were issued and soldto an investor for consideration of $6.0 million.

             Theseshares of Series A preferred stock had a liquidation preference of $100 pershare and accrued dividends at the annual rate of 8% of the liquidationpreference.  Accrued dividends werepayable at the discretion of the Company’s board of directors and weremanditorily payable upon liquidation or redemption.  At June 30, 1999, accrued and unpaid dividends were $74,301, or$0.83 per share.

             Upon closing of the initial publicoffering on October 4, 1999, each share of Series A preferred stock convertedinto 15.3846 shares of Class A common stock, for a total of 1,384,614 shares,pursuant to the terms of the Series A preferred stock.  Upon conversion, accrued and unpaiddividends of $74,301 on the Series A preferred stock were offset againstretained earnings.

**Note 5.  TreasuryStock**

             InMay 2001, the Company repurchased 17,871 shares of Class A common stock fromemployees in accordance with the 1999 Equity Incentive Plan and the underlyingrestricted shares agreements, which allow a participant, at his or herelection, to surrender a portion of restricted shares as vesting occurs to beapplied against withholding taxes.

**Note 6.  CapitalTransactions**

             OnMay 19, 1999, the Company was incorporated and capitalized through theauthorization of 250,000,000 shares of Class A common stock, 100,000,000 sharesof Class B common stock and 5,000,000 shares of preferred stock.  In connection with its formation, theCompany issued 3,410,000 shares of Class B common stock to FTDI.  In consideration for the receipt of theseshares, FTDI contributed to the Company the assets and liabilities relating tothe consumer floral and specialty gift product business.  Holders of Class A common stock are entitledto one vote per share and holders of Class B common stock are entitled to tenvotes per share.  The Class B commonstock is convertible into shares of Class A common stock on a one-for-one basisat the option of the holder and automatically converts into shares of Class Acommon stock on a one-for-one basis upon any transfer to a person other thanFTDI or certain of its affiliates or successors or a strategic partner, asdefined in the Company’s certificate of incorporation.

             OnJuly 30, 1999, the Company’s Board of Directors approved a 12-for-1 stock splitof the Company’s outstanding Class B common stock, resulting in FTDI holding40,920,000 shares of Class B common stock. All share and per share information in the accompanying financialstatements has been retroactively restated to reflect the effect of the stocksplit.

             OnSeptember 28, 1999, the Company agreed to issue and sell 4,500,000 shares ofits Class A common stock in the IPO at a price of $8.00 per share.  The gross proceeds from the IPO were $36.0million.  The net proceeds were $31.5million after deducting the underwriting discounts and commissions of $2.5million and other offering expenses of $2.0 million.  The deferred offering expenses of $1.1 million at June 30, 1999incurred in connection with the IPO were charged against additional paid-incapital upon the pricing of the IPO.

             Uponthe closing of the IPO on October 4, 1999, the 90,000 outstanding shares ofSeries A preferred stock were automatically converted into 1,384,614 shares ofClass A common stock.  Upon conversion,accrued and unpaid dividends of $74,301 on the Series A preferred stock wereoffset against retained earnings.

             OnOctober 6, 1999, the underwriters exercised their one-time option to purchase495,000 additional shares of Class A common stock at the IPO price of $8.00 pershare, representing a portion of the over-allotment option granted to theunderwriters in connection with the IPO. The net proceeds to the Company from this issuance and sale of 495,000shares of Class A common stock were $3.7 million after deducting underwritingdiscounts and commissions.

             OnJune 12, 2000, FTDI transferred 525,000 shares of previously issued andoutstanding Class B common stock to key employees of FTDI.  At the time of transfer, the related Class Bcommon stock automatically converted into Class A common stock.

**Note 7.  Income Taxes**

             AtJune 30, 2001, the Company had net operating loss carryforwards for Federal taxpurposes of $28.5 million, which are available to offset future Federal taxableincome, if any, through 2020.

             Therewas no income tax expense or benefit recorded by the Company for the fiscalyears ended June 30, 2001 or 2000. Income tax benefit for the year ended June 30, 1999 consisted of: 
 Current Deferred Total      (in thousands)       Year  ended June 30, 1999:        U.S.  Federal$2,468 $- $2,468  State  and local587  - 587      $3,055 $- $3,055     
             Incometax benefit differed from the amounts computed by applying the U.S. Federalincome tax rate of 35% to losses before income tax expense as a result of thenet-of-tax effect of state and local income taxes and the change in thevaluation allowance.

             FTD.COMwas incorporated in May 1999 to own and operate the Internet and telephonefloral and specialty gift business of FTDI. Cumulative taxes from December 19, 1994 through the Company’sincorporation in May 1999 of $10.7 million, representing $10.1 million of taxbenefits and $0.6 million of deferred taxes associated with a distributionagreement, have been settled through stockholder’s net deficit.  For periods subsequent to the Company’sincorporation, taxes are recognized pursuant to the terms of the amended TaxSharing Agreement among FTDI, IOS and the Company, which provides that theCompany will pay its tax liability computed as if it were filing a separatereturn.  Under that agreement, IOS willrefund any tax benefits attributable to the Company, provided that the Companywould have realized the benefits had the Company filed its own Federal incometax return.  At June 30, 2001, therewere no tax-related amounts currently payable to or receivable from IOS.

             Thefollowing represents the components of the deferred tax asset:
 June 30,    2001 2000     (in thousands) Deferred  tax assets:    U.S.  net operating loss carryforwards$11,139 $14,011 Non-deductible  accrued expenses103 87 Deferred  income89 89 Other62 -    Total  gross deferred income tax assets11,393 14,187 Less:  Valuation allowance(11,393)(14,187)   Net  deferred tax assets$- $-    
             Thenet change in the total valuation allowance for the year ended June 30, 2001was a decrease of $2.8 million.  Inassessing the realizability of deferred tax assets, the Company considerswhether it is more likely than not that some or all of the deferred tax assetswill be realized.  The ultimaterealization of deferred tax assets is dependent upon the generation of futuretaxable income during the period in which these temporary differences becomedeductible.  This assessment wasperformed considering projected future taxable income.  The valuation allowance of $11.4 million ismaintained on the deferred tax assets that the Company has determined are morelikely than not, not realizable as of June 30, 2001.  The subsequent recognition of $0.6 million of the valuationallowance will be applied to additional paid in capital, because certaincompensation expenses associated with the restricted stock awards discussed inNote 9 are deductible only for tax purposes. 

**Note 8.  Related PartyTransactions**

             TheCompany engages in various transactions with its parent, FTDI, in the normalcourse of the Company’s business.  FTDIpays the Company commission revenues for floral orders that are cleared throughthe FTD Clearinghouse.  Classified asother revenues, the Company records revenues for rebates received from FTDI forfloral orders processed through FTDI’s credit card program, which have alsobeen processed through the FTD Clearinghouse, and also records revenues relatedto fees paid by FTDI to the Company for the hosting of florists’ Web sitesthrough the *www.ftd.com*Internet site.

             Fororders processed through the FTD Clearinghouse, FTDI charges the Companycustomary clearing fees.  The Companyalso utilizes FTDI’s credit card processing services.  FTDI charges the Company a percentage of the order value toutilize these credit card processing services. Costs for clearing services and credit card processing expenses areincluded in fulfillment and processing service expenses and are covered by theIntercompany Services Agreement between FTDI and the Company.

             TheCompany utilizes a call center owned and operated by FTDI for order entry andcustomer care services.  The Companypays FTDI based on the number of calls handled.  These costs are classified as fulfillment and processing servicesexpenses and general and administrative expenses, as appropriate.

             TheCompany and FTDI are parties to an Intercompany Services Agreement that coverstechnical and administrative services, facilities and occupancy,Internet/telecom usage and other services that are provided to the Company byFTDI.  Technical and administrativeservices include employee and other departmental costs for the technical, humanresources, accounting, administrative and legal departments.  In consideration for these services, FTDIhas allocated a portion of its departmental costs related to the services itprovides to the Company.  Theallocations were estimated using proportional cost allocation methods, plus ageneral and administrative charge of 5% of the value of the servicesutilized.  These costs are classified astechnology development expenses and general and administrative expenses, asappropriate.

             TheCompany does not maintain separate physical facilities.  It leases space from FTDI and is chargedrent based upon an estimate of prevailing market rates for similarfacilities.  The Company is also chargeda pro-rata share, based on square footage used by the Company, for utilities,property taxes and other occupancy costs. Internet/telecom usage costs include an allocation of monthlydepreciation for all hardware and software based on usage by the Company, aswell as monthly rates for telecommunications expenses of the Company.  These costs are classified as general andadministrative expenses.

             TheCompany uses FTDI’s trademarks in connection with the sale of floral andspecialty gift products through its Web site and toll-free telephonenumber.  The Company is a party to alicense agreement with FTDI that includes provisions for royalty payments fromthe Company to FTDI of 1% of the Company’s order revenues and service fees, a 99-yearterm and termination, at FTDI’s option, under certain circumstances in theevent that ownership of 20% or more of the Company is acquired by a person orgroup not affiliated with FTDI.  Royaltyexpense associated with FTDI’s trademarks has been included in general andadministrative expenses.

The Statements of Operations include thefollowing expense transactions with FTDI:
 Year ended June 30,    2001 2000 1999      (in thousands)        Costs  of fulfillment and processing service$1,787 $1,553 $3,436 Marketing  and promotions-- -- 3,700 Technology  development402 1,087 1,431 General  and administrative3,329 2,611 2,334 
             Additionally,related party transactions include loans to officers of the Company as follows:

             TheCompany loaned various officers of the Company, collectively, $1,066,349pursuant to four-year interest bearing notes dated May 17, 2001, with accruedinterest at 6.5% per annum and principal due at maturity.

             TheCompany loaned an officer of the Company $23,000 pursuant to a four-yearinterest bearing note dated June 11, 2001, with accrued interest at 6.5% perannum and principal due at maturity.

             Additionally,prior to the Company’s IPO on September 28, 1999, key employees of IOS weregranted IOS restricted shares in exchange for services to be provided to IOSover a five-year service period.  At thetime of the IPO, certain of these key employees became employees of FTD.COM andno longer provided services to IOS.  Thekey employees, however, still retained their rights to the IOS restrictedshares and continue to earn the restricted shares in exchange for services thatwill be provided to FTD.COM.  Therefore,at the time of the IPO, FTD.COM paid IOS for the remaining $175,000 of deferredcompensation associated with the restricted shares.  During fiscal years 2001 and 2000, the Company recorded $52,000and $39,000 of compensation expense, respectively, related to these restrictedshares.

**Note 9.  Stock Optionsand Shares Reserved**

             TheFTD.COM INC. 1999 Equity Incentive Plan (the “Plan”) provides for the issuanceof up to 4,500,000 shares of Class A common stock in connection with thegranting of option rights, stock appreciation rights (SARs), restricted shares,deferred shares, performance awards or any combination of the foregoingpursuant to the Plan.  In addition, theplan provides that:

•            theaggregate number of shares of Class A common stock actually issued ortransferred by the Company upon the exercise of incentive stock options shallnot exceed 1,000,000 shares of Class A common stock;•            no plan participant shall begranted option rights and appreciation rights, in the aggregate, for more than1,000,000 shares of Class A common stock during any period of one year;•            the number of shares issuedas restricted shares shall not in the aggregate exceed 2,500,000 shares ofClass A common stock; and•            no Non-Employee Directorshall be granted option rights, appreciation rights and restricted shares, inthe aggregate, for more than 100,000 shares of Class A common stock during anyfiscal year of the Company.

To date, the Company has not granted anySARs, deferred shares or performance awards.

             Outstandingnonqualified stock options are exercisable during a ten-year period beginningone to four years after the date of grant. All currently outstanding options were granted with an exercise priceequal to either the fair market value on the date of grant or the optionee’sfirst date of employment with the Company. Changes in options outstanding are summarized as follows:
 Options  Outstanding    Options Range  of  Exercise Prices Weighted-Average  Exercise Price  **** **** ****  **Balance,  June 30, 1999**-- -- --  Granted2,499,300 $2.88 - $16.00 $10.04  Exercised-- -- --  Recaptured  or terminated(2,351,300)$4.72 - $16.00 $10.34  **Balance,  June 30, 2000**148,000 $2.88 - $8.00 $5.20  Granted160,000 $1.94 - $2.69 $2.05  Exercised-- -- --  Recaptured  or terminated(48,000)$2.88 - $7.75 $4.17  **Balance,  June 30, 2001**260,000 $1.94 - $8.00 $3.46 
             Therewere 25,000 stock options exercisable, with a weighted average exercise priceof $5.70, at June 30, 2001.  There wereno options exercisable at June 30, 2000. The following table summarizes the information regarding stock optionsoutstanding at June 30, 2001. Options  Outstanding   ** **** **Range of Exercise  Price of Options    Options  Outstanding Weighted-  Average  Remaining  Life  (in years)   Weighted-  Average Exercise  Price ******** **** **** $1.94  – $2.91205,000 9.41 $2.24 $8.0055,000 8.47 $8.00     Total  Options260,000 9.21 $3.46 
             Usingthe Black-Scholes model and the following assumptions, the average estimatedfair value, at the dates of grant of options in fiscal years 2001 and 2000, was$1.21 and $0.98 per option, respectively. 
 2001 2000     Risk-free  interest rate4.8%6.2% Expected  dividend yield0%0% Expected  volatility75%75% Estimated  lives of options (in years)4.0 4.0 
             Basedon the above assumptions, the Company would have recognized an additional$45,000 and $9,000 of compensation expense in fiscal years 2001 and 2000,respectively, if the estimated costs of the granted stock options had beenrecorded in the financial statements ratably over the vesting period.  This additional expense would have resultedin pro forma net income of $8,448 and net loss of $34,611, in fiscal years 2001and 2000, respectively, with no change in reported basic or diluted netincome/(loss) per share.

             Optionsgranted during fiscal years 2001 and 2000 vest equally each year over afour-year period from the date of grant. As a result, the estimated costs indicated above reflect only a partialvesting of such options.  If fullvesting were assumed, the estimated pro forma costs for each year would havebeen higher than indicated above.

             TheCompany granted 1,355,000 restricted shares of stock at a weighted-average fairvalue, at the dates of grant, of $2.87 in fiscal year 2000 to key members ofmanagement.  No restricted shares weregranted in fiscal year 2001 or prior to fiscal year 2000.  The Company recognized compensation expensein general and administrative expenses of $1.3 million and $160,000 in fiscalyears 2001 and 2000, respectively, related to the grants of restricted stock.

**Note 10.   SupplementalCash Flow Information**

             Netcash provided by continuing operations reflects interest received of $1.2million and $1.6 million in fiscal years 2001 and 2000, respectively.  Interest paid in fiscal year 1999 was$142,000 related to interest associated with the Company’s portion of theaggregate borrowings of FTDI.  No taxeshave been paid or refunded in fiscal years 2001 or 2000.  For fiscal years prior to fiscal year 2000,cumulative taxes from December 19, 1994 through the Company’s incorporation inMay 1999 of $10.7 million, representing $10.1 million of tax benefits and $0.6million of deferred taxes associated with a distribution agreement, have beensettled through stockholder’s net deficit.

**Note 11.  SelectedQuarterly Financial Data**(unaudited and in thousands, except for per share data) 
 First  Quarter Second  Quarter Third  Quarter Fourth  Quarter Fiscal  Year                  **2001:**          Total revenues$18,244 $32,451 $36,084 $43,515 $130,294       Gross profit$5,499 $9,559 $10,472 $13,008 $38,538       Net income$253 $2,290 $2,351 $3,599 $8,493       **Weighted average common  shares outstanding:**          Basic47,300 47,300 47,300 47,506 47,351       Diluted48,651 48,635 48,662 48,730 48,661       **Per share - basic and  diluted:**          Basic net income per  share of common stock$0.01 $0.05 $0.05 $0.08 $0.18       Diluted net income per  share of common stock$0.01 $0.05 $0.05 $0.07 $0.17       **2000:** ** ** ** ** ** ** ** ** ** **Total revenues$12,443 $23,588 $26,550 $35,624 $98,205       Gross profit$3,483 $6,633 $7,659 $10,505 $28,280       Net loss$(3,850)$(11,219)$(8,493)$(11,040)$(34,602)      **Weighted average common  shares outstanding:**          Basic41,018 47,234 47,300 47,964 45,879       Diluted41,018 47,234 47,300 47,964 45,879       **Per share - basic and  diluted:**          Basic net loss per  share of common stock$(0.09)$(0.24)$(0.18)$(0.23)$(0.75)      Diluted net loss per  share of common stock$(0.09)$(0.24)$(0.18)$(0.23)$(0.75)      
             Thesum of earnings per share for the quarters may not equal the fiscal year amountdue to rounding or to changes in the average shares outstanding during theperiod.
**ExhibitNo.** **Description of Exhibit****** **** 3.1 Certificate  of Incorporation of the Company (incorporated by reference to Exhibit 3.1 to  the Company’s Registration Statement on Form S–1, as amended (Commission File  No. 333–78857) (the “S–1”)).     3.2 Bylaws  of the Company (incorporated by reference to Exhibit 3.3 to the S–1).     4.1 Stockholders’  Agreement, dated as of December 19, 1994, among Perry Acquisition Partners,  L.P., the Co-Investors named therein and FTD Corporation (incorporated by  reference to Exhibit 4.2 to the S–1).     4.2 Form  of Registration Right Agreements between FTDI and FTD.COM (incorporated by  reference to Exhibit 4.4 to the S–1).     10.1 Form  of Intercompany Services Agreement between FTDI and FTD.COM (incorporated by  reference to Exhibit 10.2 to the S–1).     10.2 Form  of Trademark License Agreement between FTDI and FTD.COM (incorporated by  reference to Exhibit 10.3 to the S–1).     10.3 Form  of Intercompany Indemnification Agreement among FTD Corporation, FTDI and  FTD.COM (incorporated by reference to Exhibit 10.4 to the S–1).     10.4 Tax Sharing Agreement, dated as of December 19, 1994,  between Perry Capital Corp. and FTDI (incorporated by reference to Exhibit  10.5 to the S–1).      10.5 Form of First Amendment to Tax Sharing Agreement among  FTD Corporation, FTDI and FTD.COM (incorporated by reference to Exhibit 10.6  to the S–1).     10.6 Form of Florists Online Hosting Agreement  between FTDI and FTD.COM (incorporated by  reference to Exhibit 10.7 to the S–1).     10.7 Form  of Commission Agreement between FTDI and FTD.COM (incorporated by reference  to Exhibit 10.8 to the S–1).    *10.8 Letter  Agreement regarding employment of Frederick K. Johnson, dated as of May 17,  2000 (incorporated by reference to Exhibit 10.13 to the Company’s Annual Report on Form 10-K for the  fiscal year ended June 30, 2000 (Commission File No. 0-26779) (the “10-K”)).    *10.9 Letter  Agreement regarding employment of William J. Van Cleave, dated as of  May 17, 2000 (incorporated by reference to Exhibit 10.14 to the 10-K).    *10.10 Letter Agreement regarding employment of Ann  Hofferberth, dated as of January 8, 2001 (incorporated by reference to  Exhibit 10.1 to the Company’s March 31, 2001 Form 10-Q (Commission File No.  0-26779)).    +*10.11 Letter  Agreement regarding employment of Michael J. Soenen, dated as of June 14,  2001.    +*10.12 Letter Agreement regarding employment of Carrie A.  Wolfe, dated as of June 14, 2001.    *10.13 Form  of Confidentiality and Non-Competition Agreement between the Company and each  of Frederick K. Johnson and William J. Van Cleave (incorporated by reference to Exhibit 10.15 to the 10-K).    *10.14 Form of Confidentiality and Non-Competition Agreement,  dated as of January 8, 2001, between the Company and Ann Hofferberth  (incorporated by reference to Exhibit 10.15 to the 10-K).    *10.15 Form of Confidentiality and Non-Competition Agreement,  dated as of June 14, 2001, between the Company and each of Michael J. Soenen  and Carrie A. Wolfe (incorporated by reference to Exhibit 10.15 to the 10-K).    *10.16 FTD.COM  1999 Equity Incentive Plan (incorporated by reference to Exhibit 4.4 to the  Company’s Registration Statement on Form S–8 (Commission File No. 333–39846)  (the “S–8”)).    *10.17 Form  of Non-Qualified Stock Option Agreement (incorporated by reference to Exhibit  4.5 to the S–8).    *10.18 Form  of Director Non-Qualified Stock Option Agreement, dated as of December 22,  1999, between the Company and each of Samuel I. Hill for 25,000 shares and Richard  M. Owen for 25,000 shares (incorporated by reference to Exhibit 4.6 to the S–8).    *10.19 Form  of Director Non-Qualified Stock Option Agreement, dated as of June 13, 2000,  between the Company and each of Samuel I. Hill for 15,000 shares and Richard  M. Owen for 15,000 shares (incorporated by reference to Exhibit 4.6 to the  S-8).    *10.20 Restricted  Shares Agreement, dated as of May 17, 2000, between the Company and Michael  J. Soenen (incorporated by reference to Exhibit 10.20 to the 10-K).    *10.21 Restricted  Shares Agreement, dated as of May 17, 2000, between the Company and Frederick  K. Johnson (incorporated by reference to Exhibit 10.21 to the 10-K).    *10.22 Form  of Restricted Shares Agreement dated as of May 17, 2000, between the Company  and each of William J. Van Cleave for 125,000 restricted shares that become  non-forfeitable as to one-third of such restricted shares on each anniversary  of May 17, 2000 and Carrie A. Wolfe for 25,000 restricted shares that become  non-forfeitable as to one-third of such restricted shares on each anniversary  of May 17, 2000 (incorporated by reference to Exhibit 4.7 to the S–8).    *10.23 Form  of Restricted Shares Agreement, dated as of June 9, 2000, between the Company  and Carrie A. Wolfe for 25,000 restricted shares that become non-forfeitable  as to one-third of such restricted shares on each anniversary of June 9, 2000  (incorporated by reference to Exhibit 4.7 to the S-8).    *10.24 Form of Non-Qualified Stock Option Agreement, dated as  of January 8, 2001, between the Company and Ann Hofferberth for 125,000  shares at a price of $1.94 per share (incorporated by reference to Exhibit  4.5 to the S-8).    *10.25 Secured Promissory Note between FTDI and Michael J.  Soenen, dated as of August 22, 2000 (incorporated by reference to Exhibit  10.1 to the Company’s September 30, 2000 Form 10-Q (Commission File No.  0-26779)).    +*10.26 Form of Secured Promissory Note, dated as of May 17,  2001, between the Company and each of Michael Soenen for $601,283.42 with  216,667 shares as collateral, Frederick Johnson for $323,768.42 with 116,667  shares as collateral, Bill Van Cleave for $116,075.47 with 41,667 shares as  collateral and Carrie Wolfe for $25,221.52 with 8,334 shares as collateral.    +*10.27 Secured Promissory Note between the Company and Carrie  Wolfe, dated as of June 11, 2001.    + 23.1 Consent of KPMG LLP.     24.1 Powers  of Attorney (contained in the signature page of this Form 10-K).  * Management contract or compensatory  arrangement. + Filed as an exhibit to this Form 10-K.
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