Coastal Contacts Reports Record Q2, 2012 Revenue of $48.2 Million....................

[Chris Ryser]

Coastal Contacts Reports Record Q2, 2012 Revenue of $48.2 Million	06/14/2012
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VANCOUVER, British Columbia, June 14, 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 second fiscal quarter ended April 30, 2012. During the second quarter of fiscal 2012 Coastal Contacts generated record revenues of $48.2 million dollars and EBITDA of $0.9 million. Mr. Roger Hardy, Coastal's Founder and CEO, commented, "We are pleased with our progress in a number of operational and strategic areas during the second quarter of 2012. Growing the glasses business to $46 million for the trailing twelve months, an increase of 67% compared to the previous period makes us the clear category leader. Our core contact lens business showed steady organic growth in the quarter, providing a predictable stream of earnings. The glasses category showed a significant increase in units shipped year-over-year, and we continue to focus on investment in this rapidly growing category. Our team did an outstanding job elevating our brand with customers and improving the customer service offering across the board. Our strategy to introduce customers to "a better way to buy eyewear" generated record glasses results. Our execution around delivering eyewear to customers continues to improve, resulting in improved customer ratings and greater awareness of this new category. It was a great heads down quarter of generating new orders, growing awareness and improving service to customers." Some highlights of the quarter: Record second quarter sales of $48.2 million Total order volume was approximately 584,000 orders, a 14% increase Total glasses shipped increased 40% to 263,000 units Glasses shipped into U.S. market increased 64% to 126,000 units, representing 48% of total glasses units shipped in the quarter Total glasses sales in the quarter increased to $12.2 million Total contact lens sales increased 7% to $36.0 million Coastal grew its base of vision corrected customers grew by 27% to approximately 3.8 million compared to 3.0 million year over year Coastal's designer brands of eyewear comprised 70% of total units glasses shipped Coastal's proprietary Splash brand of contact lens comprised 5% of total contact lens units shippedMr. Hardy commented, "It's been an exciting year so far at Coastal as we served more than one million customers during the first six months of fiscal 2012. It's rewarding to see and hear our customers telling the stories of how we have changed the way they will buy eyewear forever. It remains early days in this nascent category." We look forward to reporting continued progress in the coming quarters." Key financial metrics for the second quarter of 2012 compared to the same period in 2011: Sales increased in the second quarter to a record $48.2 million, compared to $43.8 million Gross profit was $20.8 million or 43% of sales, compared to $19.2 million or 44% of sales Fulfillment expenses remained constant at 10% of sales Selling and Marketing expenses remained constant at 23% of sales General and Administration expenses remained constant at 10% of sales Loss for the period was $0.2 million or $0.00 per share, compared to earnings of $0.1 million or $0.00 per share Adjusted EBITDA was $0.9 million, compared to $1.0 million Coastal reported cash and cash equivalents of $13.4 million at the end of the quarter. COASTAL CONTACTS INC.

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From: "We are excited......" to "We are pleased....................." and still no profit. Hmmmmmmmmm.