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1 800 Contacts Inc (1050122) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2007

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 8, 2007 /PRNewswire-FirstCall/ — 1-800 CONTACTS, INC. (Nasdaq: CTAC) (“the Company”) today reported results for its first quarter ended March 31, 2007.

First Quarter Results

Consolidated net sales for the first quarter ended March 31, 2007 were $67.4 million, compared to $63.5 million for the comparable quarter of the prior year.  For the first quarter of fiscal 2007, the Company reported a consolidated net loss of $(1.0) million, or $(0.08) per diluted common share, compared to consolidated net income of $1.2 million, or $0.09 per diluted common share, for the first quarter of fiscal 2006.

U.S. Retail

Net sales and operating income for the Company’s U.S. retail business for the first quarter of fiscal 2007 were $61.8 million and $6.2 million, respectively, compared to net sales of $59.2 million and operating income of $7.0 million for the first quarter of fiscal 2006.  Results for the first quarter of fiscal 2007 include approximately $0.4 million in legal and professional expenses relating to the strategic review of ClearLab and the U.S. retail business.

Gross margin for the Company’s U.S. retail business increased to 40.2% for the first quarter of fiscal 2007 from 39.9% for the first quarter of fiscal 2006.

Advertising expense for the first quarter of fiscal 2007 was $0.4 million more than for the first quarter of fiscal 2006.

During the first quarter of fiscal 2007, other selling, general and administrative expenses as a percentage of net sales for the U.S. retail business increased to 20.6% from 19.8% in the first quarter of fiscal 2006.

ClearLab

Net sales and operating loss for ClearLab, the Company’s international contact lens manufacturing business, for the first quarter of fiscal 2007 were $5.6 million and $(4.2) million, respectively, compared to net sales of $4.3 million and an operating loss of



The following information was filed by 1 800 Contacts Inc on Tuesday, May 8, 2007 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 2007 10-K Annual Report includes:

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SEC Filing Tools
CIK: 1050122
Form Type: 10-Q Quarterly Report
Accession Number: 0001104659-07-038385
Submitted to the SEC: Thu May 10 2007 5:06:23 PM EST
Accepted by the SEC: Thu May 10 2007
Period: Saturday, March 31, 2007
Industry: Retail Catalog And Mail Order Houses

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