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Costume Express brand represents small portion of overall sales in Q3

30
Mar '07
Celebrate Express reported net sales of $16.7 million in the third quarter of fiscal 2007, a decrease of 11% from net sales of $18.8 million during the same period last year. Net loss for the third quarter of fiscal 2007 was ($137,000), or ($0.02) per diluted share, compared with a net loss of ($398,000), or ($0.05) per diluted share, in the third quarter of fiscal 2006. Weighted average diluted shares outstanding were 7.9 million for the third quarter of fiscal 2007, compared with 7.7 million for the third quarter of fiscal 2006.

Kevin Green, chief executive officer of Celebrate Express stated, "We have been successful in putting in place many of the key building blocks of our turnaround. The senior management team is nearly complete, and with the review of strategic alternatives now behind us, we anticipate being able to fill the open vice president of marketing position and several other key management vacancies in the coming months.”

“With the conclusion of this review and with our structured shareholder communications policy firmly in place, our management team will have the opportunity to focus full attention on the business. We continue to closely manage catalog circulation and on-line marketing spending to balance revenue growth with profitability.”

“It is important to point out that revenue growth and marketing spending in the direct marketing industry are highly correlated. During the third quarter we launched a new user-interface for our website with improved navigation and search capabilities, which has led to increased conversion rates and more of our total business coming in online creating operating leverage. We are now beginning to feel the momentum of many of our key initiatives and remain confident in the Celebrate Express business model."


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