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Celebrate Express' net sales up 11% in Q1 fiscal 2007

29
Sep '06
Celebrate Express Inc, a leading online and catalog retailer of celebration products for families, reported financial results for its first quarter of fiscal 2007 ended August 31, 2006.

Celebrate Express reported net sales of $19.9 million in the first quarter of fiscal 2007, an increase of 11 percent from net sales of $17.9 million during the same period last year.

Net loss for the first quarter of fiscal 2007 was ($326,000), or ($0.04) per diluted share, compared with net income of $700,000, or $0.09 per diluted share, in the first quarter of fiscal 2006.

Weighted average diluted shares outstanding were 7.8 million for the first quarter of fiscal 2007, compared with 8.0 million for the first quarter of fiscal 2006.

During the quarter just ended, the Company attracted approximately 133,000 new customers, compared with 118,000 in the same quarter of the prior year, an increase of 13 percent. Net sales per order were $80.80 in the first quarter of fiscal 2007, compared with $82.03 in the first quarter of fiscal 2006.

The reduction in net sales per order was primarily due to the lower average order size for the Storybook Heirlooms brand, which decreased from $101.26 in the prior year to $85.27, as a result of discounted sales efforts undertaken to wind down the operations of the brand.

Revenue from the Company's websites represented approximately 73 percent of net sales in the quarter just ended, up from approximately 64percent in the same quarter of the prior year.


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