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Thread: Coastal Contacts Reports Record Revenue of $46.8 Million in Q1 ......................

  1. #1
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    Redhot Jumper Coastal Contacts Reports Record Revenue of $46.8 Million in Q1 ......................

    Coastal Contacts Reports Record Revenue of $46.8 Million in Q1, 2012
    03/13/2012
    Download this Press Release
    VANCOUVER, British Columbia, March 13, 2012 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal" or "the Company") (TSX:COA) (Stockholm:COA) the planet's biggest online eyewear company today announced its financial results for the first fiscal quarter ended January 31, 2012.
    For the first quarter ended January 31, 2012 compared to same period of 2011:

    Sales increased 15% to $46.8 million from $40.6 million. Total eyeglasses sales increased 63% to $10.3 million from $6.3 million. Total eyeglasses units shipped increased 85% to approximately 196,000 units. Total contact lens sales increased 7% to $36.6 million from $34.3 million. Adjusted EBITDA was $1.0 million compared with $0.3 million. Loss for the period was $0.2 million or $0.00 per share compared with a loss of $2.4 million or $0.04 per share. Total order volume was approximately 527,000 orders, a 16% increase. Coastal has grown its base of vision corrected customers to approximately 3.5 million compared with 2.9 million. Coastal's exclusive brands of eyewear comprised 60% of total units.
    Mr.
    Roger Hardy, Coastal's Founder and CEO, commented, "We are excited about the record first quarter results given this is historically our seasonally weakest period. Our focus on operations during the quarter resulted in reduced selling and marketing expenses, reduced fulfillment expenses while improving service times to customers and growing the top and bottom lines. The investments we have made in the past year have positioned Coastal to grow our business while continuing to deliver a level of customer service that cannot be matched by anyone in our industry. We were also excited to ship more glasses to the United States market this quarter than any other market we serve which we believe supports the belief that customers in the United States are receptive to the savings and convenience of our offering. We look forward to reporting continued progress in the coming quarters."Key financial metrics for the first quarter of 2012 compared with the same period in 2011:

    Gross profit increased to $19.0 million and remained constant at 41% of sales. Selling and Marketing expenses declined to 22% of sales from 23%. Fulfillment expenses declined to 9% of sales from 10%. General and Administration expenses declined to 10% from 15%.Coastal reported cash and cash equivalents of $14.3 million compared with $16.9 million at the end of the previous quarter ended October 31, 2011.




    Comment: ......................will anyone say that this is not impressing or scary to the B&M stores ?????????????????????

  2. #2
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    They have not figured out how to make money yet but nevertheless that is huge volume . it is somewhat like other internet companies when they started such as Facebook , it took a while to make it immensely profitable.

    This is a Canadian company press release should it be in the Canadian forum ?
    Last edited by idispense; 03-21-2012 at 07:03 PM.

  3. #3
    One eye sees, the other feels OptiBoard Silver Supporter
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    Loss for the period was $0.2 million....Coastal reported cash and cash equivalents of $14.3 million compared with $16.9 million at the end of the previous quarter ended October 31, 2011.
    At this rate they'll be out of cash in 18 months.

    Come on, you little pirates, what are you waiting for? Get your free eyeglasses now!!! Order today!!! Tell your friends, tell your neighbors, tell everyone you know, before it's to late!!! Hurry now!!!

    http://www.coastal.com/glasses/cCouponEligibleGlasses.html
    Science is a way of trying not to fool yourself. - Richard P. Feynman

    Experience is the hardest teacher. She gives the test before the lesson.



  4. #4
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    I try to make money on every order; they like to lose money on every order!

    This is not a good business plan, but I just had a girl in with garbage from them she paid almost $200.00 for a D&G drill mount that was a mess!
    She is getting her money back ,but they were not nice and tried to bully her.

    Craig

  5. #5
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    Redhot Jumper should it be in the Canadian forum ?................................

    Quote Originally Posted by idispense View Post

    This is a Canadian company press release should it be in the Canadian forum ?

    idispense.................thanks for the punch back

    However Coastal runs about 10 websites and covers just about the globe with them directed to different geographical areas. So the press release was made in Canada but is targeting a heck of a wider area.

    This is like a wake up call to the optical retail industry but it does not seem to wake up many folks who mostly ignore them as the viewer count is usually nothing to rave about. I make such posts just for the value of the news and be on a dated record to have made them.

    I would love to see an US on-line optical like Essilors "Frames Direct" make periodic press releases how well they are doing, maybe some day it will show up in Essilors financial report.

  6. #6
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    Canadian company, listed public in New York, market is in US. In Canadian market, they use another domain. Keep the post here is pretty fair.

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