68.6 F
San Diego
Monday, Jun 24, 2024

Proxy , Provide Commerce, Inc.

Nasdaq , PRVD

Provide Commerce, Inc. operates an e-commerce marketplace of Web sites for perishable goods that delivers fresh products directly from the supplier to the customer. Provide Commerce combines an online storefront, supply chain management technology, supplier relationships and logistical relationships with Federal Express and United Parcel Service to create a market platform that bypasses traditional supply chains of wholesalers, distributors and retailers. Provide Commerce sells flowers and plants on its proflowers.com Web site and sells gourmet foods on its Uptown Prime and Cherry Moon Farms Web sites. In October 2003, the company launched two Web sites under its gourmet food business unit: Uptown Prime, offering premium meats and seafood, and Cherry Moon Farms, offering fresh premium fruits.


Total number of shares outstanding as of Dec. 2 12,000,000

Price of each share of common stock on Dec. 2 $30.23

Aggregate market value as of Dec. 2 $362,760,000

Performance Record

For year ended June 30, in thousands, except per-share data.

2005 2004 2003

Total revenues $177,078 $128,813 $88,684

Net income (loss) $8,915 $19,536 $4,332

Net income (loss) per share $.65 $1.50 $.39

Total assets $90,208 $80,225 $17,334


Joel Citron, 43, chairman since 2000.

David Dangoor, 56, director since 2003.

Joseph Kennedy, 53, director since 2000.

Arthur Laffer, 65, director since 1998.

Peter McLaughlin, 67, director since 2003.

James Myers, 47, director since 2003.

Jordanna Schutz, 25, director since 2003.

Marilyn Seymann, 62, director since 2004.

William Strauss, 47, director since 1998.

Executive Compensation

Officer 2005 Cash Compensation

William Strauss, chief executive officer $912,596

Abraham Wynperle, president and chief operating officer $488,558

Kenneth Constable, senior vice president and general manager $496,635

Kevin Hall, chief information officer $327,788

Mark Sottosanti, senior vice president and general manager $291,154

Significant Stock Ownership

Number of shares Aug. 31

Arthur Laffer 3,631,211

Joel Citron 3,528,692

Internet Floral Concepts, L.P. 3,528,692

Jovian Holdings, LLC 3,528,692

Jared Schutz 3,528,692

Baron Capital Management, Inc. 881,707

William Strauss 10,330

Arbor Capital Management, LLC 709,883

Directors and officers as a group (16 people) 3,915,619

Other Information

Headquarters: 5005 Wateridge Vista Drive, San Diego, CA 92121; (858) 638-4900; fax (858) 546-3081.

Web site: www.providecommerce.com.

Auditors: Ernst & Young LLP.

Employees: 175.

Industry: Internet service provider.

Information was compiled from the company’s annual and proxy reports.


Featured Articles


Related Articles