Celebrate Express' Costume Express Brand sales up in Q1
30 Sep '05
3 min read
Leading online and catalog retailer of celebration products for families,Celebrate Express Inc reported financial results for its first quarter of fiscal 2006 ended August 31, 2005.
Celebrate Express reported net sales of $17.9 million in the first quarter of fiscal 2006 ended August 31, 2005, an increase of 23 percent from net sales of $14.5 million during the same period last year.
Net income for the first quarter of fiscal 2006 was $700,000, or $0.09 per diluted share, compared with net income of $241,000, or $0.05 per diluted share in the first quarter of fiscal 2005. They sighted average diluted shares outstanding were 8.0 million for the first quarter of fiscal 2006, compared with 5.3 million for the first quarter of fiscal 2005. There were no severance related charges included in the results for the quarter just ended in connection with the departure of two of the Company's officers in July 2005.
During the current quarter, the Company attracted approximately 118,000 new customers and net sales per order increased to $82.03, compared with $79.81 in the same quarter of the previous year, due primarily to expanded merchandising efforts. Revenue from repeat customers represented approximately 47 percent of corporate revenue during the quarter.
Mike Jewell, Chief Executive Officer of Celebrate Express, stated, "They are pleased with the solid revenue growth during the quarter and the 92 percent year- over-year increase in earnings per share. Net sales from their core Birthday Express brand grew approximately 22 percent during the quarter, and net sales from their Costume Express Brand grew over 145 percent. While the Costume Express growth in the first quarter of fiscal 2006 is due in part to earlier marketing efforts ahead of the Halloween season.
marketing@alchempro.com
