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1 800 Contacts Inc (1050122) SEC Filing 10-Q Quarterly report for the period ending Saturday, April 1, 2006

1 800 Contacts Inc

CIK: 1050122

Exhibit 99.1

 

Contacts:

 

Brian W. Bethers

 

Robert G. Hunter

 

 

President

 

CFO

 

 

1-800 CONTACTS, INC.

 

1-800 CONTACTS, INC.

 

 

(801) 316-5000

 

(801) 316-5000

 

 

investors@contacts.com

 

investors@contacts.com

 

For Immediate Release

 

1-800 CONTACTS Announces First Quarter Results

 

DRAPER, Utah, May 2, 2006 /PRNewswire-FirstCall/ — 1-800 CONTACTS, INC. (Nasdaq: CTAC), today reported results for its first quarter ended April 1, 2006.

 

Consolidated net sales for the first quarter ended April 1, 2006 were $63.5 million, compared to $60.3 million for the comparable quarter of the prior year. For the first quarter of fiscal 2006, the Company reported consolidated net income of $1.2 million, or $0.09 per diluted common share, compared to consolidated net income of $0.2 million, or $0.01 per diluted common share, for the first quarter of fiscal 2005. The fiscal 2006 results include $0.3 million of expense related to stock options granted prior to fiscal 2006 and approximately $50,000 of expense related to restricted stock grants compared to approximately $5,000 of expense related to restricted stock grants in the first quarter of fiscal 2005. These amounts are included in other selling, general and administrative expenses.

 

US Retail

 

Net sales and operating income for the Company’s US retail business for the first quarter of fiscal 2006 were $59.2 million and $7.0 million, respectively, compared to net sales of $56.4 million and operating income of $4.4 million for the first quarter of fiscal 2005.

 

The gross margin for the US retail business increased to 39.9% for the first quarter of fiscal 2006 from 39.4% for the first quarter of fiscal 2005.

 

Advertising expense for the first quarter of fiscal 2006 was approximately $2.6 million less than the first quarter of fiscal 2005.

 

During the first quarter of fiscal 2006, the US retail business other selling, general and administrative expenses as a percentage of net sales increased to 19.8% from 17.9% in the first quarter of fiscal 2005.

 

ClearLab

 

Net sales and operating loss for ClearLab, the Company’s international manufacturing business, for the first quarter of fiscal 2006 were $4.3 million and $(2.9) million, respectively, compared to net sales of $4.3 million and an operating loss of $(2.0) million for the first quarter of fiscal 2005. ClearLab’s results for the first quarter of fiscal 2006

 


The following information was filed by 1 800 Contacts Inc on Wednesday, May 3, 2006 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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SEC Filing Tools
CIK: 1050122
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-06-033846
Submitted to the SEC: Thu May 11 2006 4:37:21 PM EST
Accepted by the SEC: Thu May 11 2006
Period: Saturday, April 1, 2006
Industry: Retail Catalog And Mail Order Houses

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