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Thread: Coastal Q2 results ...

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    Coastal Q2 results ...

    2012 .. net loss for Q2 242,000 for 2013 ... 6,98 millions !!

    http://www.brandonsun.com/business/b...811.html?thx=y

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    Quote Originally Posted by oculus View Post
    2012 .. net loss for Q2 242,000 for 2013 ... 6,98 millions !!

    http://www.brandonsun.com/business/b...811.html?thx=y
    Regardless of investment, volume and market share, this is proof profit can only be derived from a successful formula. So when you sell that first pair of profitable glasses today, smile and know that you're ahead of them on the P&L statement.

    The higher their sales, the higher their loss is! Duh, I would be firing that whole board of incompetent morons at the annual shareholders meeting.

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    [QUOTE=oculus;461579]2012 .. net loss for Q2 242,000 for 2013 ... 6,98 millions !!

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    Wow 6mil+ loss
    But as Chris Ryser has said: even with the mounting losses they are capturing sales form us B&M's. Question is for how long??? Plus there are tons of other onliners to choose from. Clearly's days are numbered as the competition is fierce out there to get to the bottom...

    Gibby

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    Quote Originally Posted by HindSight2020 View Post
    Regardless of investment, volume and market share, this is proof profit can only be derived from a successful formula. So when you sell that first pair of profitable glasses today, smile and know that you're ahead of them on the P&L statement.

    The higher their sales, the higher their loss is! Duh, I would be firing that whole board of incompetent morons at the annual shareholders meeting.
    Sitting back watching and smiling. :)

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    Quote Originally Posted by Golfnorth View Post
    Sitting back watching and smiling. :)
    Can you say abandon ship?

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    How many Ontario investors bought shares in on line companies presuming that online sales must be legal in Ontario otherwise they would have been shut down ?

    How many of those Ontario investors will be hurt financially should their investment collapse?

    Are Ontario investors considered to be the same members of the public that are protected by various rules and regulations and legislation's of Parliament ?

    What defines and limits harm to the public ?

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    Independent Problem Optiholic edKENdance's Avatar
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    I can't help smiling when I look at this.

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    Quote Originally Posted by idispense View Post
    How many Ontario investors bought shares in on line companies presuming that online sales must be legal in Ontario otherwise they would have been shut down ?
    I don't know the Ontario law .. but I was told that in Quebec .. the sales AND delivery is a restricted act .. thats why the college of optometry is in court with Coastal .. but in Ontario only the sales would be a restricted act .. and Coastal could argue that the sales is made in BC, and the Ontario law is not saying anything about the delivery ...

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    Quote Originally Posted by oculus View Post
    I don't know the Ontario law .. but I was told that in Quebec .. the sales AND delivery is a restricted act .. thats why the college of optometry is in court with Coastal .. but in Ontario only the sales would be a restricted act .. and Coastal could argue that the sales is made in BC, and the Ontario law is not saying anything about the delivery ...
    Ask yourself this very simple question:

    Is any resident of BC, Alberta , Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, P.E.I., Yukon, N.W.T. , or Labrador and Newfoundland exempt from the speed limits while driving in Ontario ?

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    Blue Jumper Their website had another 5% increase in traffic ....................................

    Quote Originally Posted by oculus View Post

    2012 .. net loss for Q2 242,000 for 2013 ... 6,98 millions !!

    I have been following them for the last few years as I see them steam rolling ahead. Their website had another 5% increase in traffic over the last 3 month and is now in 7th position of all on line opticals world wide.

    So do not have too much joy at this stage...........................all the glasses they have sold and are selling, you do not, while their reputation on the web is continously increasing.

    They must have a plan and all of us are only looking at the loss they are showing. Why has nobody closed them down ?

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    Quote Originally Posted by idispense View Post
    Ask yourself this very simple question:

    Is any resident of BC, Alberta , Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, P.E.I., Yukon, N.W.T. , or Labrador and Newfoundland exempt from the speed limits while driving in Ontario ?
    When I ask why only Quebec is on court with Coastal, thats the explanation I got .. your Ontario reserve act have a big flaw .. the delivery is not a reserve act .... so Coastal could pretend that the sales is actually made in BC, not Ontario where it would be illegal, and since the delivery is not a reserve act in Ontario ... they can ship there ... but in Quebec the delivery is a reserve act, this is why we can try to stop them with a court order. Your comparaison is not good, since the illegal act would happen in Ontario .... Coastal pretend that their 'illegal Ontario act' is happening in BC !

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    Quote Originally Posted by Chris Ryser View Post
    I have been following them for the last few years as I see them steam rolling ahead. Their website had another 5% increase in traffic over the last 3 month and is now in 7th position of all on line opticals world wide.

    So do not have too much joy at this stage...........................all the glasses they have sold and are selling, you do not, while their reputation on the web is continously increasing.

    They must have a plan and all of us are only looking at the loss they are showing. Why has nobody closed them down ?

    Big database of customers + high traffic website + Value of the company going down = Nice take over by ESS or Lux or you name it ... our probleme will only be more serious.

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    Quote Originally Posted by Chris Ryser View Post
    I have been following them for the last few years as I see them steam rolling ahead. Their website had another 5% increase in traffic over the last 3 month and is now in 7th position of all on line opticals world wide.

    So do not have too much joy at this stage...........................all the glasses they have sold and are selling, you do not, while their reputation on the web is continously increasing.

    They must have a plan and all of us are only looking at the loss they are showing. Why has nobody closed them down ?
    Reputation and selling products at a loss does not pay the bills. As a publicly-traded company investors want to see results and a few more results like Q2 that was just released would be disasterous for all shareholders. Granted they are selling lots of glasses that my fellow brothers and sisters in the profession are not but for how long can this continue in it's current form?

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    Sorry but even if we all get aggressive with our pricing and charge for all the services we previously gave away, I feel there is an oversupply of ECP's/eyeglass providers. Worse in some areas vs others but still too many of us.
    Unfortunately some of us (providers & suppliers) will be dropping out of the marketplace! It's just a trickle now but it'll accelerate.
    There's an oversupply of onliners. All desperate to race to the bottom. So CC cant last long with the current biz model. But the longer they last......
    Bleak eh.
    Gibby

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    Quote Originally Posted by oculus View Post
    When I ask why only Quebec is on court with Coastal, thats the explanation I got .. your Ontario reserve act have a big flaw .. the delivery is not a reserve act .... so Coastal could pretend that the sales is actually made in BC, not Ontario where it would be illegal, and since the delivery is not a reserve act in Ontario ... they can ship there ... but in Quebec the delivery is a reserve act, this is why we can try to stop them with a court order. Your comparaison is not good, since the illegal act would happen in Ontario .... Coastal pretend that their 'illegal Ontario act' is happening in BC !

    well I do not disagree with you but then how do you explain this from the College ?

    UNREGULATED SELLING OF PRESCRIPTION
    EYEWEAR OVER THE INTERNET IN ONTARIO
    IS NOT JUST UNSAFE. IT IS ALSO ILLEGAL.



    http://www.coptont.org/PUBLICINFO/in...dispensing.asp

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    Quote Originally Posted by oculus View Post
    When I ask why only Quebec is on court with Coastal, thats the explanation I got .. your Ontario reserve act have a big flaw .. the delivery is not a reserve act .... so Coastal could pretend that the sales is actually made in BC, not Ontario where it would be illegal, and since the delivery is not a reserve act in Ontario ... they can ship there ... but in Quebec the delivery is a reserve act, this is why we can try to stop them with a court order. Your comparaison is not good, since the illegal act would happen in Ontario .... Coastal pretend that their 'illegal Ontario act' is happening in BC !

    Have you read this court case ? It deals with online selling of items in Ontario and does give a College far reaching abilities and sets precedent. There are two cases, the original and the appeal ,

    here is the link for the appeal:

    http://www.canlii.org/eliisa/highlig...YWN5AAAAAAAAAQ


    Here is the link for the first case :

    http://www.canlii.org/eliisa/highlig...YWN5AAAAAAAAAQ


    I presume that due diligence would make the above matters required reading for all Registrars, Presidents, Executive Councils, General Council members, all of the public members and the staffing .
    Last edited by idispense; 06-12-2013 at 08:31 PM.

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    Quote Originally Posted by idispense View Post
    well I do not disagree with you but then how do you explain this from the College ?

    UNREGULATED SELLING OF PRESCRIPTION
    EYEWEAR OVER THE INTERNET IN ONTARIO
    IS NOT JUST UNSAFE. IT IS ALSO ILLEGAL.



    http://www.coptont.org/PUBLICINFO/in...dispensing.asp

    The college can state that it is illegal ... but my guess is it is if your are doing the sales within the limit of Ontario province. If the sales is made in BC .. Ontario law can't be applied. Health in Canada is a provincial responsability, a province can't rules another one.

    For your judgement ... pharmacy law and optometry/optician law are completely different. By the way I would love the all province have the same reserve acts as Quebec have, we could have put all our effort in court together.

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    Quote Originally Posted by idispense View Post
    Have you read this court case ? It deals with online selling of items in Ontario and does give a College far reaching abilities and sets precedent. There are two cases, the original and the appeal ,

    here is the link for the appeal:

    http://www.canlii.org/eliisa/highlig...YWN5AAAAAAAAAQ


    Here is the link for the first case :

    http://www.canlii.org/eliisa/highlig...YWN5AAAAAAAAAQ


    I presume that due diligence would make the above matters required reading for all Registrars, Presidents, Executive Councils, General Council members, all of the public members and the staffing .
    Way to hijack the thread again! Seriously is it possible for you to post anything other than the Colleges? The topic is Coastal, not Colleges.

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    Quote Originally Posted by HindSight2020 View Post
    Way to hijack the thread again! Seriously is it possible for you to post anything other than the Colleges? The topic is Coastal, not Colleges.
    The response was not to you, you don't have to read the response which was not to you if you don't wish to, that is entirely your own choice, but should you decide to read the links then you might see and understand the relativity, but again that is entirely up to you.

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    Total sales increased 11% to $53.7 million..................................

    Coastal.com Announces Second Quarter 2013 Financial Results
    06/10/2013
    Download this Press Release

    Total sales increased 11% to $53.7 million Glasses sales grew 31% to $16 million Glasses Average Order Size grew 40% to $73.26 Contact lens sales grew 5% to $37.7 millionVANCOUVER, British Columbia, June 10, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com" or "the Company") (Nasdaq:COA) (TSX:COA), the leading online provider of eyewear, today reported financial results for the second fiscal quarter ended April 30, 2013.

    "The overall business grew well in the second quarter, with glasses showing particular strength in key markets, such as North America," said
    Roger Hardy, Founder and Chief Executive Officer. "During the quarter the average order size for glasses grew 40% to $73.26, driven by increasing numbers of returning customers, increases in branded sales and a focused strategy to enhance specialty categories. We continue to see a secular shift towards a better way of buying eyewear as more and more consumers become aware of the value, savings and convenience of buying online. In Canada 47% of glasses revenues in Q2 were generated by returning glasses customers affirming our belief that we are building a stable and recurring revenue model in the eyeglasses category similar to our contact lens business. Since launching the glasses business four years ago, we have served approximately 1.5 million customers in North America alone. We continue to leverage the uniqueness of our offering, which includes vertically integrated state of the art manufacturing facilities; providing rapid delivery of our broad eyewear selection. In the quarter we also experienced record traffic, online impressions and increases in brand awareness. "Coastal.com is currently investing to become the market leader in the rapidly growing online eyeglasses category. Selling and marketing expenses during the quarter were 31% of sales compared with 23% during the same period in 2012. Over time we expect to reduce advertising expense as our growing glasses business becomes characterized by increased numbers of returning customers and higher gross margins. Cash generated from our profitable contact lens business and recently completed equity financing of approximately $20 million, places Coastal.com in a strong position to maintain our leadership position."
    Total sales for the first quarter increased 11% to $53.7 million. Net loss including the larger selling and marketing spend, totaled $7.0 million, or $0.23 per basic and diluted share. Non-IFRS adjusted EBITDA for the quarter totaled a loss of $5.4 million.
    Second Quarter 2013 Financial Highlights

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    Quote Originally Posted by Chris Ryser View Post
    Coastal.com Announces Second Quarter 2013 Financial Results 06/10/2013
    Download this Press Release
    Total sales increased 11% to $53.7 million Glasses sales grew 31% to $16 million Glasses Average Order Size grew 40% to $73.26 Contact lens sales grew 5% to $37.7 millionVANCOUVER, British Columbia, June 10, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com" or "the Company") (Nasdaq:COA) (TSX:COA), the leading online provider of eyewear, today reported financial results for the second fiscal quarter ended April 30, 2013.

    "The overall business grew well in the second quarter, with glasses showing particular strength in key markets, such as North America," said
    Roger Hardy, Founder and Chief Executive Officer. "During the quarter the average order size for glasses grew 40% to $73.26, driven by increasing numbers of returning customers, increases in branded sales and a focused strategy to enhance specialty categories. We continue to see a secular shift towards a better way of buying eyewear as more and more consumers become aware of the value, savings and convenience of buying online. In Canada 47% of glasses revenues in Q2 were generated by returning glasses customers affirming our belief that we are building a stable and recurring revenue model in the eyeglasses category similar to our contact lens business. Since launching the glasses business four years ago, we have served approximately 1.5 million customers in North America alone. We continue to leverage the uniqueness of our offering, which includes vertically integrated state of the art manufacturing facilities; providing rapid delivery of our broad eyewear selection. In the quarter we also experienced record traffic, online impressions and increases in brand awareness. "Coastal.com is currently investing to become the market leader in the rapidly growing online eyeglasses category. Selling and marketing expenses during the quarter were 31% of sales compared with 23% during the same period in 2012. Over time we expect to reduce advertising expense as our growing glasses business becomes characterized by increased numbers of returning customers and higher gross margins. Cash generated from our profitable contact lens business and recently completed equity financing of approximately $20 million, places Coastal.com in a strong position to maintain our leadership position."
    Total sales for the first quarter increased 11% to $53.7 million. Net loss including the larger selling and marketing spend, totaled $7.0 million, or $0.23 per basic and diluted share. Non-IFRS adjusted EBITDA for the quarter totaled a loss of $5.4 million.
    Second Quarter 2013 Financial Highlights

    To be able to increase their sales they have to spend 31% of their income on marketing !!!

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    Quote Originally Posted by oculus View Post
    Big database of customers + high traffic website + Value of the company going down = Nice take over by ESS or Lux or you name it ... our probleme will only be more serious.
    From Optinews today.
    Here comes LUX:
    The Canadian online eyewear provider Coastal.com announced that it has signed a distribution agreement to launch Oakley eyewear on its market-leading European website, Lensway, and unveiled a sales increase of 11 per cent ($53.7 million) for the second fiscal quarter, ended April 30, 2013.

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