Celebrate Express adds 574,000 customers to database

27 Jul '07

3 min read

Celebrate Express Inc, a leading online and catalog retailer of celebration products for families reported financial results for its fourth quarter and full fiscal year ended May 31, 2007, including:

• Gross margin percentage for fiscal 2007 increased 300 basis points from the prior year to 52.1%.
• 574,000 new customers were added to the database during fiscal 2007, an increase of 20%, bringing the total customer file to 3.4 million at May 31, 2007.
• Fourth quarter fiscal 2007 pro forma net income*, excluding stock-based compensation, improved to $146,000 or $0.02 cents per diluted share, compared with a net loss of ($324,000) or ($0.04) per diluted share in the fourth quarter of fiscal 2006.

Celebrate Express reported net sales of $20.1 million in the fourth quarter of fiscal 2007, a decrease of 17% from net sales of $24.2 million during the same period last year. The net loss for the fourth quarter of fiscal 2007 was ($62,000), or ($0.01) per diluted share, compared with a net loss of ($324,000), or ($0.04) per diluted share, in the fourth quarter of fiscal 2006.

Weighted average diluted shares outstanding were 7.9 million for the fourth quarter of fiscal 2007, compared to 7.8 million for the fourth quarter of fiscal 2006.

For the fiscal year ended May 31, 2007, net sales decreased 2.0% to $85.2 million from $87.0 million in the prior fiscal year. For the year just ended, net income was $43,000, or $0.01 per diluted share, compared with net income of $405,000, or $0.05 per diluted share, for fiscal 2006. Weighted average diluted shares outstanding were 8.0 million for fiscal 2007, compared with 7.9 million for fiscal 2006.

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