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1 800 Contacts Inc (1050122) SEC Filing 10-Q Quarterly report for the period ending Saturday, July 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 Second Quarter Results
and a Strategic Review of ClearLab

DRAPER, Utah, July 26, 2006 /PRNewswire-FirstCall/ — 1-800 CONTACTS, INC. (Nasdaq: CTAC), today reported results for its second quarter ended July 1, 2006 and also announced it has engaged an investment banking firm for a strategic review of ClearLab.

Second Quarter Results

Consolidated net sales for the second quarter ended July 1, 2006 were $63.2 million, compared to $61.4 million for the comparable quarter of the prior year.  For the second quarter of fiscal 2006, the Company reported a consolidated net loss of $(2.0) million, or $(0.15) per diluted common share, compared to consolidated net income of $41,000, or $0.00 per diluted common share, for the second quarter of fiscal 2005.

U.S. Retail

Net sales and operating income for the Company’s U.S. retail business for the second quarter of fiscal 2006 were $57.7 million and $5.8 million, respectively, compared to net sales of $56.8 million and operating income of $4.4 million for the second quarter of fiscal 2005.

Gross margin for the Company’s U.S. retail business decreased to 39.4% for the second quarter of fiscal 2006 from 40.3% for the second quarter of fiscal 2005.

Advertising expense for the second quarter of fiscal 2006 was approximately $3.4 million less than the second quarter of fiscal 2005.

During the second quarter of fiscal 2006, other selling, general and administrative expenses as a percentage of net sales for the U.S. retail business increased to 21.8% from 19.0% in the second quarter of fiscal 2005.

ClearLab

Net sales and operating loss for ClearLab, the Company’s international manufacturing business, for the second quarter of fiscal 2006 were $5.4 million and $(5.5) million, respectively, compared to net sales of $4.6 million and an operating loss of $(2.0) million



The following information was filed by 1 800 Contacts Inc on Thursday, July 27, 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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1 800 Contacts Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2006 10-K Annual Report includes:

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SEC Filing Tools
CIK: 1050122
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-06-053544
Submitted to the SEC: Thu Aug 10 2006 2:29:02 PM EST
Accepted by the SEC: Thu Aug 10 2006
Period: Saturday, July 1, 2006
Industry: Retail Catalog And Mail Order Houses

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