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Celebrate Express pleased with costume season results

Jan '07
Celebrate Express Inc reported financial results for its second quarter of fiscal 2007 ended November 30, 2006.

Celebrate Express reported net sales of $28.5 million in the second quarter of fiscal 2007, an increase of 9% from net sales of $26.1 million during the same period last year. Net income for the second quarter of fiscal 2007 was $568,000, or $0.07 per diluted share, compared with net income of $427,000, or $0.05 per diluted share, in the second quarter of fiscal 2006. Weighted average diluted shares outstanding were 8.0 million for the second quarter of fiscal 2007, compared with 7.9 million for the second quarter of fiscal 2006.

Kevin Green, chief executive officer of Celebrate Express, stated, "The increase in net sales for the quarter was negatively affected by the 74% year- over-year decrease in our Storybook Heirlooms brand as we continued to wind- down those operations. Excluding Storybook Heirlooms, net sales for the Company increased 17.5% from the prior year, led by 46% growth in our Costume Express brand.

We are pleased with our costume season results and encouraged about the growth opportunities for Celebrate Express in the Halloween market. Net sales for our Birthday Express brand grew 1.4% from the prior year, reflecting downward pressure in average order size and response rates."

During the quarter just ended, the Company attracted approximately 194,000 new customers, compared with 163,000 in the same quarter of theprior year, an increase of 19%. Net sales per order were $72.65 in the second quarter of fiscal 2007, compared with $79.90 in the second quarter of fiscal 2006.

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