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Thread: Coastal Financial Results for 2013 are here .........................................

  1. #1
    Manuf. Lens Surface Treatments
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    Redhot Jumper Coastal Financial Results for 2013 are here .........................................

    Here are the results as announced January 21st :

    Fiscal 2013 Financial Highlights



    • Sales grew $22 million to $217.6 million, an 11% year-over-year increase.
    • Gross profit was $90.9 million or 42% of sales compared with $84.5 million
    • or 43% during the same period in 2012, primarily attributable to the expansion of our North American glasses infrastructure.
    • Fulfillment expenses improved to $20.3 million or 9% of sales compared to $19.2 million or 10% of sales during the same period in 2012.
    • General and administrative expenses improved to $22.5 million or 10% of sales compared to $20.9 million or 11% of sales during the same period in 2012.
    • Selling and marketing expenses were $63.2 million or 29% of sales compared with $47.9 or 25% of sales during the same period in 2012.
    • Cash and equivalents were $22.4 million compared with $19.2 million at October 31, 2012.


    Glasses Business for fiscal 2013



    • Sales totaled $57.8 million, a 21% year-over-year increase.
    • Shipped 892,723 frames during the fiscal year.
    • Average order value increased 34% to $77.
    • Gross profit was $26 million or 45% of sales.
    • USA returning glasses customer average order sizes increased 96% to $142 during the fourth quarter.
    • Canada returning glasses customer average order value increased 35% to $174 during the fourth quarter.



    See at ------------> http://investors.coastalcontacts.com...s/default.aspx


    Discussion and Comments
    Last edited by Chris Ryser; 01-24-2014 at 03:12 AM.

  2. #2
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    Redhot Jumper Shipped 892,723 frames during the fiscal year.......................................

    Here is the official Coastal result :

    • Shipped 892,723 frames during the fiscal year 2013.



    and all of them have not been sold by B&M nor chain stores, and is up 11% from the previous year.

    Coastal is only number 7 in website traffic of the online opticals, and number one, WARBY PARKER shows 3x more traffic.

    Are the other six ahead of Coastal selling in the same ratio or better ?

    At the same rate the 7 first ones including Coastal, would have sold 6,249,061 Frames in 2013 or probably more.
    There are now 50 online opticals listed and how many frames might have been sold by the other 43 during the year 2013 ???????????????

  3. #3
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    Every regulatory council person and staff person, every ECP, should be required to fully read and understand the related complete contents of their Nasdaq Sec filings paying particular attention to the 40-F filings (about 100 pages) and the SC filings.

    The Council persons should be required to pass a knowledge test based on this reading material. Failure to pass should prevent their governing or prevent their eligibility to be elected. The ECP s should also pass a test based on this material and it should exempt them from a full cycle of CE requirements.
    Last edited by idispense; 01-24-2014 at 04:22 AM.

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    Master OptiBoarder tx11's Avatar
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    Chris the info you post about Coastal is always interesting. I think that we are all aware that ONLINE is gaining ground and technology is making accuracy and accessibility better all the time. Is it just the price of eyewear that you think is making Online grow or convenience? How do YOU suggest that B&M opticals (with overhead) compete with such a force? Just askin'...Obviously an Rx is required to get glasses and people cannot get that online (yet?), so ODs and MDs will continue to have a strong Pt base. Presbyopia is on the rise with the U.S. population aging. Looking ten years into the future...what will the independent opticial shop look like (opticians in general for that matter)? Will it still exist?... What changes do we as optical dispensers need to be making NOW? Discussion...

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    OptiWizard
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    If you don't believe what you are doing is valueable - the monster under your bed will always be a concern. Fix what you can, make sure the people who come to you are taken care of to the best of your ability and let the chips fall. Crying fixes nothing.

  6. #6
    Master OptiBoarder tx11's Avatar
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    Quote Originally Posted by Jason H View Post
    If you don't believe what you are doing is valueable - the monster under your bed will always be a concern. Fix what you can, make sure the people who come to you are taken care of to the best of your ability and let the chips fall. Crying fixes nothing.
    Not crying...Being Proactive...asking questionsCr-39....poly....fashion (branded eyewear)...glasses in an hour...inhouse finishing... PALs.....3rd party insurance... BigBox -low cost opticals..all these changed the business of dispensing. More change is coming. ONLINE may be changing the game yet again. Its good to be ready.
    Last edited by tx11; 01-24-2014 at 10:00 AM.

  7. #7
    What's up? drk's Avatar
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    See if I'm doing the math right:


    • Sales $217.6 million.
    • Gross profit was $90.9 million
    • Fulfillment expenses $20.3 million
    • General and administrative expenses $22.5 million
    • Selling and marketing expenses were $63.2 million

    Will someone get out a calculator, please? Mine doesn't have negative numbers.

  8. #8
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    Redhot Jumper we are all aware that ONLINE is gaining ground ......................................

    Quote Originally Posted by tx11 View Post

    1) Chris the info you post about Coastal is always interesting. I think that we are all aware that ONLINE is gaining ground and technology is making accuracy and accessibility better all the time.

    2) Is it just the price of eyewear that you think is making Online grow or convenience? How do YOU suggest that B&M opticals (with overhead) compete with such a force? Just askin'...Obviously an Rx is required to get glasses and people cannot get that online (yet?), so ODs and MDs will continue to have a strong Pt base. Presbyopia is on the rise with the U.S. population aging.

    3) Looking ten years into the future...what will the independent opticial shop look like (opticians in general for that matter)? Will it still exist?... What changes do we as optical dispensers need to be making NOW? Discussion...
    1) ..............if we are all aware, OptiBoard post's do not reflect it. When I continously warned that Essilor would grab the market with aquisitions in the early 2000 th, I got laughed at.

    Online is gaining ground in items for which we have used retail stores since the middle ages, and if these retail stores do not have to service these items and are specialised for it they will be the loosers.

    Ordering on the web is so easy today, that on Amazon for example, they have your name, address and credit card number on file and do not even ask. Just put in the order and you get it 2 days later by UPS.

    Even this will become more sophisticated within a short time. No travelling needed, no parking space to look for, no walking in the cold, snow, rain or heat............just type your order and get an item even for less than in a specialised store within 2 days at your front step.

    2) ..............Price was the first foot in the door by the onliners. snd it worked during the biggest world wide recession ever. I now see that the average selling price of Coastal has gone up to
    $ 176.00 which is far higher than when they started.

    I believe that online purchasing is shifting more and more to convinience than only the price. I have made several purchases for my kitchen at home online and did not even have to burn a nickel for gasoline and got the delivery free of charge for the same items I could have purchased in a local store. These online businesses do actually work and save time and some money.

    Online companies do not have to pay the rent for a local store and can work out of one location and serve a whole country and reflect the cost which by comparison is much lower, on their selling prices.

    So the conventional retailer of any type gets beaten, not only by the pricing of online selling, but also by the convienience of doing so.


    3) ...............Looking 10 years into the future I feel that the middle of the road opticians might be deleted by all these happenings, while the bottom priced ones are are still floating and the high end
    opticians will be florishing as ever.

    Progressive lenses will become obsolete as they are replaced by lenses that change power automatically. They will adjust to the distance of the object you are looking at, starting with single vision and then progress into multifocals.

    MDs and Optometrists will be busy in their professions and not bother with commercial ventures.

    The still existing optical stores will have expanded into service stores which will be able to check prescriptions, cut lenses, repair frames, adjust frames (which onliners can not do), tint or remove colors and do all the related work right on the spot. They will have a small stock of replacement frames.

    Materials will be sold at near cost, Their income will exist from the service charges which has previously been added to the material cost, if ever needed or not.

    If the professional optician has degrees and the proper education, the charges to the consumer should reflect that.

    Close to 10 million pairs of glasses sold by onliners combined, in 2013, have not been serviced and adjusted by a good optician, as they mostly refuse to touch them, according to posts I have seen right here on OB.

    I believe that opticians can survive the present and coming online tide by selling their knowdlege able professional service instead of glasses with a built in profit margin.

  9. #9
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    Redhot Jumper ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) ..................................

    x ANNUAL REPORT PURSUANT TO SECTION 13(a) OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
    For the fiscal year ended October 31, 2013Commission file number: 001-35705Coastal Contacts Inc.(Exact Name of Registrant as Specified in its Charter)


    See all of it ---------->


    http://secfilings.nasdaq.com/filingF...21%2F2014&pdf=



    Last edited by Chris Ryser; 01-24-2014 at 12:40 PM.

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    Eyes eastward... Uilleann's Avatar
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    Are your personal website traffic ratings slipping again Chris?

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    [QUOTE=Uilleann;477230]Are your personal website traffic ratings slipping again

    Your response is shallow. Try reading the material.

  12. #12
    Eyes eastward... Uilleann's Avatar
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    [QUOTE=idispense;477233]
    Quote Originally Posted by Uilleann View Post
    Are your personal website traffic ratings slipping again

    Your response is shallow. Try reading the material.
    Actually, these type of repeated posts are shallow. I've certainly been around here enough years to see it, as have most of us. The material is no different this year than it was last. Or the year before that....or before that...

    etc...

  13. #13
    Master OptiBoarder
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    Quote Originally Posted by Chris Ryser View Post
    1) ..............if we are all aware, OptiBoard post's do not reflect it. When I continously warned that Essilor would grab the market with aquisitions in the early 2000 th, I got laughed at.
    Chris, I also recall your many early warnings about an upcoming recession in 2007-8 and that members might consider making some timely adjustments to your optical businesses. Yet member responses ranged from outright laughter to jingoistic 'Anti-American' labels.
    Please keep your informative posts coming.

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    Manuf. Lens Surface Treatments
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    Redhot Jumper I also recall your many early warnings about an upcoming recession .................

    Quote Originally Posted by tmorse View Post

    Chris, I also recall your many early warnings about an upcoming recession in 2007-8 and that members might consider making some timely adjustments to your optical businesses. Yet member responses ranged from outright laughter to jingoistic 'Anti-American' labels.
    Please keep your informative posts coming
    .
    Thanks tmorse. Yes and Essilor did what I said and the recession also came in full swing and we still hurt from it. It delivered us some big changes that many do not see because they are too blind folded.

    And they are laughing again as I can see in those few hours since I made the post. Time will tell.

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    Redhot Jumper Are your personal website traffic ratings slipping again Chris? .....................

    Quote Originally Posted by Uilleann View Post

    Are your personal website traffic ratings slipping again Chris?

    Actually they are not slipping anymore they are on the rebound over the last two month, and still in the top 20s if that is of any interest.

  16. #16
    What's up? drk's Avatar
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    Quote Originally Posted by drk View Post
    See if I'm doing the math right:


    • Sales $217.6 million.
    • Gross profit was $90.9 million
    • Fulfillment expenses $20.3 million
    • General and administrative expenses $22.5 million
    • Selling and marketing expenses were $63.2 million

    Will someone get out a calculator, please? Mine doesn't have negative numbers.
    It means they're operating at a loss of about $15.1 million?

  17. #17
    OptiWizard
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    Good answer TX11

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    What's up? drk's Avatar
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    ($000’s) except Orders Shipped and
    Three months ended October 31
    Twelve months ended October 31
    Average Order Size
    2013
    2012
    2013
    2012
    2011
    Total sales
    53,359
    50,700
    217,550
    196,085
    182,714
    Gross profit
    23,602
    23,272
    90,891
    84,527
    76,435
    Gross profit - %
    44
    %
    46
    %
    42
    %
    43
    %
    42
    %
    Foreign exchange (gains) losses
    796
    (280
    )
    714
    308
    (151
    )
    Loss before income taxes
    (3,156
    )
    (2,290
    )
    (16,130
    )
    (4,318
    )
    (5,364
    )
    Net loss
    (2,931
    )
    (2,579
    )
    (15,944
    )
    (4,878
    )
    (5,305
    )
    Adjusted EBITDA*
    (775
    )
    (445
    )
    (9,906
    )
    1,381
    743
    Basic & diluted loss per share
    (0.09
    )
    (0.09
    )
    (0.52
    )
    (0.17
    )
    (0.19
    )

  19. #19
    What's up? drk's Avatar
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    Total assets
    93,260
    83,104
    93,260
    83,104
    82,287
    Total long-term financial liabilities
    3,535
    457
    3,535
    457
    3,411
    Average order size* $
    110.05
    $
    89.09
    $
    100.52
    $
    86.62
    $
    84.53
    Glasses Frames Shipped*
    164,853
    281,023
    892,723
    987,452
    778,662


    Oh, yeah. They're bleeding. But they'll make it up on volume, for sure.

  20. #20
    Manuf. Lens Surface Treatments
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    Blue Jumper Oh, yeah. They're bleeding.............................................

    Quote Originally Posted by drk View Post

    Oh, yeah. They're bleeding. But they'll make it up on volume, for sure.

    Yes they make it up in volume. But can they afford to do so ?

  21. #21
    Master OptiBoarder
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    Look at the sc-13 filings .
    Last edited by idispense; 01-25-2014 at 10:03 PM.

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    investors are buying the stock not because of any imminent profit, but for increasing sales volumes and growth/market share. when they show their first profit the stock might just tank.....its a wacky upside down world this stock market.

  23. #23
    What's up? drk's Avatar
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    Sucker born every minute.

  24. #24
    Manuf. Lens Surface Treatments
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    Blue Jumper Sucker born every minute................................................

    Quote Originally Posted by drk View Post

    Sucker born every minute.


    Having watched this thread expand into the discussion of making profits or not, like they always do, while all online opticals are growing in their sales............profits or not. Coastal is the only one we can get some information.

    In the meantime they have increased their sales by 15 to 20 % a year, and sold an estimated
    10 million pairs in 2013, between the largest 7 to 8 online opticals, which you have not sold.







  25. #25
    Master OptiBoarder tx11's Avatar
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    I don't know how they stay open without a profit or at least breaking even a B&M could only show a loss for a short period of time before it closed its doors. I agree though ....... they are getting more and more market share ...maybe trying to build it up big enough to sell it to someone, who with a big enough market share could make it profitable...hmmm I wonder who. At any rate what you say is important... that is business we did not keep or get to begin with.

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