Exhibit 99.1

 

Contacts:

 

Brian W. Bethers

 

Robert G. Hunter

 

 

President and CFO

 

Vice President, Finance

 

 

1-800 CONTACTS, INC.

 

1-800 CONTACTS, INC.

 

 

(801) 924-9800

 

(801) 924-9800

 

 

investors@contacts.com

 

investors@contacts.com

 

For Immediate Release

 

1-800 CONTACTS Announces Fourth Quarter and Fiscal Year 2004 Results

 

DRAPER, Utah, March 8, 2005 /PRNewswire-FirstCall/ — 1-800 CONTACTS, INC. (Nasdaq: CTAC), today reported results for its fourth quarter and fiscal year 2004 ended January 1, 2005.

 

Consolidated net sales for the fourth quarter ended January 1, 2005 were $54.0 million, compared to $45.9 million for the comparable quarter of the prior year, an 18% increase.  For the fourth quarter of fiscal 2004, the Company reported consolidated net income of $1.4 million, or $0.10 per diluted common share, compared to a consolidated net loss of $(0.9) million, or $(0.07) per diluted common share for the fourth quarter of fiscal 2003.  The Company’s fiscal year is a 52 or 53 week period ending on the Saturday nearest to December 31.  The fourth quarter of fiscal 2004 consisted of 13 weeks compared to 14 weeks for the same quarter of the prior year.

 

“In fiscal 2004, we expanded our manufacturing capacity and our product offerings through the acquisition of VisionTec, validated the value of our manufacturing operations and intellectual property by entering into a license agreement with Japan’s largest independent contact lens manufacturer, saw the implementation of The Fairness to Contact Lens Consumers Act (FCLCA), and realized significant improvement in the financial results of our US retail business,” said Jonathan Coon, Chief Executive Officer.

 

For the fiscal year ended January 1, 2005, consolidated net sales were $211.7 million, compared to $187.3 million for the prior year, a 13% increase.  The Company reported a consolidated net loss of $(0.6) million, or $(0.05) per diluted common share, for fiscal

 


The following information was filed by 1 800 Contacts Inc on Wednesday, March 9, 2005 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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