Coastal Contacts Press Releases

Coastal.com Exceeds 2,000,000 Facebook Fans

Thu, 02 May 2013 09:00:00 -0400

VANCOUVER, British Columbia, May 2, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA), the leading online retailer of glasses, sunglasses and contact lenses, announced today that its web sites have now attracted more than two million "fans" on Facebook, the leading social media platform on the Web.

"The Coastal.com marketing team has been very successful utilizing social media to share information and create a community of Coastal.com customers," commented Roger Hardy, Coastal.com's founder and CEO. "This growing base of customers is a significant competitive advantage that we believe will pay dividends in the future, as it allows us to communicate offers efficiently, creating repeat customers and allowing them to share their experiences with friends and family."

Aaron Magness, Coastal.com's VP, Marketing commented, "Coastal.com has by far the largest community of Facebook fans in the online optical category, providing a powerful platform to communicate with those customers and their friends. Our surveys indicate that customers buying from Coastal.com are up to three times as happy when compared with buying from traditional retail channels. That is definitely something worth sharing."

On January 18, 2013 the Company reported that Coastal.com was ranked #3 overall on the Web in the 2013 Social Media 300 rankings by industry leading Internet Retailer magazine.

About Coastal.com

Coastal.com is one of the largest online retailers of vision care products in the world. Coastal.com empowers customers to easily browse, try on and buy eyewear—saving time, money and sanity. With every pair of qualifying frames purchased, Coastal.com donates a pair to someone in need through its Change the View project. Founded in 2000, Coastal.com designs, produces and distributes the largest selection of glasses and contact lenses on the Internet, including a unique combination of designer glasses, contact lenses, sunglasses, and vision care accessories. Coastal.com serves customers in more than 150 countries through the Coastal Contacts Inc. family of websites including: Coastal.com, ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, Lensway.com.br, ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, and Coastallens.com.

Cautionary Note Regarding Forward-Looking Statements

This News Release may contain "forward-looking statements" as defined in the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation concerning the business, operations and financial performance and condition of Coastal. Statements that are not historical fact are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements. Examples of such forward-looking statements include statements relating to: Coastal's perception of the contact lens and eyeglasses industry or market and anticipated trends in that market in any of the countries in which Coastal does business; its anticipated ability to procure products and supplies, or the terms under which it procures products and supplies; Coastal's anticipated business operations, inventory levels, ability to handle specific order and call volumes, ability to fill and ship orders in a timely manner, ability to achieve greater marketing efficiency or similar statements; ability to increase its production; plans for capital expenditure plans; relationships with suppliers; anticipated results of operations, including but not limited to anticipated sales, revenues, earnings, tax benefits or similar matters; the effects of seasonality; sufficiency of cash flows; and Coastal's perceptions regarding volatility in and impact of foreign currency exchange rates.

Forward-looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Coastal's business and the industry and markets in which it operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying Coastal's expectations regarding forward-looking statements or information contained herein include, among others: that Coastal will maintain its position in the markets it operates in and will expand into other markets in a favorable manner; that it will have sufficient capital to continue making investments in advertising, inventory, property, equipment and leasehold improvements as well as personnel to support its business and new product lines, including its eyeglasses business; that Coastal will be able to generate and maintain sufficient cash flows to support its operations; that it will be successful in complying with industry regulatory requirements in British Columbia and other jurisdictions; that Coastal will be able to establish and/or maintain necessary relationships with suppliers; and that it will retain key personnel. The foregoing list of assumptions is not exhaustive. Readers are cautioned that forward-looking statements or information are only predictions, and that Coastal's actual future results or performance may be materially different due to a number of factors. These factors include, but are not limited to: changes in the market; potential downturns in economic conditions; consumer credit risk; Coastal's ability to implement its business strategies; competition; limited suppliers; inventory risk; disruption in its distribution facilities; mergers and acquisitions; foreign currency exchange rate fluctuations; regulatory requirements; demand for products Coastal sells; competition and dependence on the internet as well as those risks described in the securities filings of Coastal.

Although Coastal believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any of its forward-looking statements. Coastal's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained herein are made only as of the date hereof. Coastal does not have, or undertake, any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

CONTACT: For Further Information:
         
         Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal.com
         604.676.4498
         terryv@coastal.com
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal.com Opens U.S. Production and Distribution Facility

Mon, 29 Apr 2013 09:00:00 -0400

VANCOUVER, British Columbia, April 29, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA), the leading online retailer of vision care products, has opened its first U.S. production and distribution facility.

Driven by growing U.S. demand and Coastal.com's continued efforts to revolutionize the eyewear industry, this new U.S. facility reinforces the Company's commitment to provide the best online experience for buying glasses.

Coastal.com will be able to ship orders within 24 hours after an order has been placed on the Coastal.com website because the production takes place in this modern, state of the art facility which operates 24 hours a day, seven days a week, staffed with 70 employees. The facility is designed to scale up, including plans to add more positions throughout the year as consumer demand fuels growth.

"The United States is our fastest-growing market, as evidenced by an increasing number of new and returning customers purchasing glasses from us every day," commented Roger Hardy, Coastal.com's founder and CEO. "With our new U.S. production and distribution facility, we will be able to accelerate this growth by offering the same great quality and even faster service to our expanding U.S. customer base, which aligns with our overall strategy for continued expansion."

David Bailey, operations manager for the new U.S. facility, commented, "Our skilled team is excited to be part of the Coastal family. We continue to change the way people buy vision care products and look forward to additional expansion as we appeal to a broader U.S. audience."

About Coastal.com

Cautionary Note Regarding Forward-Looking Statements

CONTACT: Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal.com
         604.676.4498
         terryv@coastal.com
         
         Liolios  Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal.com Secures Three Vision Plan Agreements

Tue, 09 Apr 2013 09:00:00 -0400

VANCOUVER, British Columbia, April 9, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA); the leading online retailer of vision care products, announced today that it has secured a vision plan agreement with a leading Canadian benefits administrator, servicing approximately 3000 employers across the country. The agreement provides Coastal's industry leading eyewear product offering to their client group offering significant savings and convenience. Coastal also reports that it has secured corporate vision plans agreements directly with two corporate clients, Paladin Security and BuildDirect.com to serve the vision requirements of more than 6000 employees in total.

Greg Lechner, Coastal's Vice President, Business Development commented, "Benefits administrators, HMO's and corporate clients are increasingly open to a better way to buy eyewear, offering their clients greater savings, while lowering the cost of vision care for the employer. Our program will allow them to tackle the growing costs of health care for their teams, while allocating benefits dollars to areas which matter most. We are thrilled with progress in this national program and look forward to providing additional updates in the coming months."

About Coastal.com

Cautionary Note Regarding Forward-Looking Statements

CONTACT: Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal.com
         604.676.4498
         terryv@coastal.com
         
         Liolios  Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal Contacts Inc. Announces Closing of Underwritten Public Offering of Common Shares

Mon, 01 Apr 2013 10:55:00 -0400

VANCOUVER, British Columbia, April 1, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA) announced today that it has closed its previously-announced underwritten public offering of 3,000,000 common shares, and the exercise, in part, of the over-allotment option to purchase an additional 447,100 common shares, at a price of $6.00 per share for gross proceeds to the company of $20,682,600.

Roth Capital Partners, LLC and Craig-Hallum Capital Group LLC acted as joint book-runners for the offering.

Coastal.com intends to use the net proceeds to accelerate its customer acquisition strategy, make certain capital expenditures and improve working capital to fund growth in new and existing distribution channels.

The shares described above were offered by Coastal.com pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC"). A preliminary prospectus supplement relating to the offering was filed with the SEC on March 25, 2013 and a final prospectus supplement relating to the offering was filed with the SEC on March 26, 2013, both of which are available on the SEC's website at www.sec.gov.

About Coastal Contacts

Coastal Contacts Inc. is one of the largest online retailers of vision care products in the world. Coastal.com seeks to empower customers to easily browse, try on and buy eyewear—saving time, money and sanity. With every pair of qualifying frames purchased, Coastal.com donates a pair to someone in need through its Change the View project. Founded in 2000, Coastal.com designs, produces and distributes one of the largest selections of glasses and contact lenses on the Internet, including a unique combination of designer glasses, contact lenses, sunglasses, and vision care accessories. Coastal.com serves customers in more than 150 countries through the Coastal Contacts family of websites including: Coastal.com, ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, Lensway.com.br, ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, and Coastallens.com.

Cautionary Note Regarding Forward-Looking Statements

This News Release may contain "forward-looking statements" as defined in the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation concerning the business, operations and financial performance and condition of Coastal.com. Statements that are not historical fact are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements. Examples of such forward-looking statements include statements relating to: Coastal.com's perception of the contact lens and eyeglasses industry or market and anticipated trends in that market in any of the countries in which Coastal.com does business; its anticipated ability to procure products and supplies, or the terms under which it procures products and supplies; Coastal.com's anticipated business operations, inventory levels, ability to handle specific order and call volumes, ability to fill and ship orders in a timely manner, ability to achieve greater marketing efficiency or similar statements; ability to increase its production; plans for capital expenditure plans; relationships with suppliers; anticipated results of operations, including but not limited to anticipated sales, revenues, earnings, tax benefits or similar matters; the effects of seasonality; sufficiency of cash flows; and Coastal.com's perceptions regarding volatility in and impact of foreign currency exchange rates.

Forward-looking statements are based on the then current expectations, beliefs, assumptions, estimates and forecasts about Coastal.com's business and the industry and markets in which it operates. Forward-looking statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying Coastal.com's expectations regarding forward-looking statements or information contained herein include, among others: that Coastal.com will maintain its position in the markets it operates in and will expand into other markets in a favorable manner; that it will have sufficient capital to continue making investments in advertising, inventory, property, equipment and leasehold improvements as well as personnel to support its business and new product lines, including its eyeglasses business; that Coastal.com will be able to generate and maintain sufficient cash flows to support its operations; that it will be successful in complying with industry regulatory requirements in British Columbia and other jurisdictions; that Coastal.com will be able to establish and/or maintain necessary relationships with suppliers; and that it will retain key personnel. The foregoing list of assumptions is not exhaustive. Readers are cautioned that forward-looking statements or information are only predictions, and that Coastal.com's actual future results or performance may be materially different due to a number of factors. These factors include, but are not limited to: changes in the market; potential downturns in economic conditions; consumer credit risk; Coastal.com's ability to implement its business strategies; competition; limited suppliers; inventory risk; disruption in its distribution facilities; mergers and acquisitions; foreign currency exchange rate fluctuations; regulatory requirements; demand for products Coastal.com sells; competition and dependence on the internet as well as those risks described in the securities filings of Coastal.com.

Although Coastal.com believes that its plans, intentions and expectations reflected in or suggested by such forward-looking statements are reasonable, actual results could differ materially from a projection or assumption in any of its forward-looking statements. Coastal.com's future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The forward-looking statements contained herein are made only as of the date hereof. Coastal.com does not have, or undertake, any obligation to update or revise any forward-looking statements whether as a result of new information, subsequent events or otherwise, unless otherwise required by law.

CONTACT: For Further Information:
         
         Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal Contacts Inc.
         604.676.4498
         terryv@coastal.com
         
         or
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal Contacts Inc. Prices Underwritten Public Offering of Common Shares

Tue, 26 Mar 2013 08:40:00 -0400

VANCOUVER, British Columbia, March 26, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA), an online retailer of vision care products, today announced the pricing of an underwritten public offering of 3,000,000 of its common shares at a price of $6.00 per share for gross proceeds to the company of $18 million. The company has also granted to the underwriters an option, exercisable within 30 days following closing, to acquire an additional 450,000 common shares at a price of $6.00 per share for additional gross proceeds to the company of $2.7 million, to cover over-allotments in connection with the offering. The offering is expected to close on or about April 1, 2013, subject to customary closing conditions.

Roth Capital Partners, LLC and Craig-Hallum Capital Group LLC are acting as joint book-runners for the offering.

The shares described above are being offered by Coastal.com pursuant to a registration statement previously filed with and subsequently declared effective by the Securities and Exchange Commission ("SEC"). A preliminary prospectus supplement relating to the offering was filed with the SEC on March 25, 2013 and is available on the SEC's website at http://www.sec.gov. A final prospectus supplement relating to the offering will be filed with the SEC and will be available on the SEC's website at http://www.sec.gov.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147 or email: rothecm@roth.com or Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, by calling 612-334-6300, or by emailing bart.federak@craig-hallum.com or by accessing the SEC's website, www.sec.gov.

About Coastal Contacts

Coastal Contacts Inc. is one of the largest online retailers of vision care products in the world. Coastal.com empowers customers to easily browse, try on and buy eyewear—saving time, money and sanity. With every pair of qualifying frames purchased, Coastal.com donates a pair to someone in need through its Change the View project. Founded in 2000, Coastal.com designs, produces and distributes the largest selection of glasses and contact lenses on the Internet, including a unique combination of designer glasses, contact lenses, sunglasses, and vision care accessories. Coastal.com serves customers in more than 150 countries through the Coastal Contacts family of websites including: Coastal.com, ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, Lensway.com.br, ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, and Coastallens.com.

Cautionary Note Regarding Forward-Looking Statements

This News Release may contain "forward-looking statements" as defined in the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation concerning the business, operations and financial performance and condition of Coastal.com. Statements that are not historical fact are forward-looking statements. The words "may," "would," "could," "will," "intend," "plan," "anticipate," "believe," "estimate," "expect," "goal," "target," "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements. Examples of such forward-looking statements include statements relating to: Coastal.com's perception of the contact lens and eyeglasses industry or market and anticipated trends in that market in any of the countries in which Coastal.com does business; its anticipated ability to procure products and supplies, or the terms under which it procures products and supplies; Coastal.com's anticipated business operations, inventory levels, ability to handle specific order and call volumes, ability to fill and ship orders in a timely manner, ability to achieve greater marketing efficiency or similar statements; ability to increase its production; plans for capital expenditure plans; relationships with suppliers; anticipated results of operations, including but not limited to anticipated sales, revenues, earnings, tax benefits or similar matters; the effects of seasonality; sufficiency of cash flows; and Coastal.com's perceptions regarding volatility in and impact of foreign currency exchange rates.

CONTACT: Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal Contacts Inc.
         604.676.4498
         terryv@coastal.com
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal Contacts Inc. Announces Proposed Public Offering of Common Shares

Mon, 25 Mar 2013 16:01:00 -0400

VANCOUVER, British Columbia, March 25, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA), an online retailer of vision care products, today announced that it intends to offer common shares in an underwritten public offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Roth Capital Partners, LLC and Craig-Hallum Capital Group LLC are acting as joint book-runners for the offering.

Coastal.com intends to use the net proceeds to fund working capital, accelerate customer acquisition in growth markets and for general corporate purposes.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Copies of the preliminary prospectus supplement and accompanying base prospectus relating to this offering may be obtained from Roth Capital Partners, LLC, 888 San Clemente, Newport Beach, CA 92660, (800) 678-9147 or email: rothecm@roth.com or Craig-Hallum Capital Group LLC at 222 South Ninth Street, Suite 350, Minneapolis, Minnesota 55402, by calling 612-334-6300, or by emailing bart.federak@craig-hallum.com or by accessing the SEC's website, www.sec.gov.

About Coastal Contacts

Cautionary Note Regarding Forward-Looking Statements

This News Release may contain "forward-looking statements" as defined in the U.S. Securities Act of 1933, the U.S. Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995 and applicable Canadian securities legislation concerning the business, operations and financial performance and condition of Coastal.com. Statements that are not historical fact are forward-looking statements. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should," "likely," "potential," "continue," "project," "forecast," "prospects," and similar expressions typically are used to identify forward-looking statements. Examples of such forward-looking statements include statements relating to: Coastal.com's perception of the contact lens and eyeglasses industry or market and anticipated trends in that market in any of the countries in which Coastal.com does business; its anticipated ability to procure products and supplies, or the terms under which it procures products and supplies; Coastal.com's anticipated business operations, inventory levels, ability to handle specific order and call volumes, ability to fill and ship orders in a timely manner, ability to achieve greater marketing efficiency or similar statements; ability to increase its production; plans for capital expenditure plans; relationships with suppliers; anticipated results of operations, including but not limited to anticipated sales, revenues, earnings, tax benefits or similar matters; the effects of seasonality; sufficiency of cash flows; and Coastal.com's perceptions regarding volatility in and impact of foreign currency exchange rates.

CONTACT: Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal Contacts Inc.
         604.676.4498
         terryv@coastal.com
         
         or
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal.com to Present at the 25th Annual ROTH Conference on March 18, 2013

Tue, 12 Mar 2013 09:15:00 -0400

VANCOUVER, British Columbia, March 12, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA), the leading online retailer of vision care products, has been invited to present at the ROTH Capital Partners 25th Annual Conference being held on March 17-20, 2013 at The Ritz-Carlton, Laguna Niguel in Dana Point, California.

Roger Hardy, Coastal's founder and CEO is scheduled to present on Monday, March 18, 2013 at 8:30 a.m. Pacific time, with one-on-one meetings held throughout the next two days.

For more information about the conference or to schedule a one-on-one meeting with Coastal's management, please contact your ROTH representative at 1-800-933-6830 or via e-mail at oneononerequests@roth.com.

About ROTH Capital Partners

ROTH Capital Partners, LLC (ROTH) is a relationship-driven investment bank focused on serving emerging growth companies and their investors. As a full-service investment bank, ROTH provides capital raising, M&A advisory, analytical research, trading, market-making services and corporate access. Headquartered in Newport Beach, CA, ROTH is privately-held and employee owned, and maintains offices throughout the U.S. and Hong Kong. For more information on ROTH, please visit www.roth.com.

About Coastal.com

Cautionary Note Regarding Forward-Looking Statements

CONTACT: For Further Information:
         
         Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal.com
         604.676.4498
         terryv@coastal.com
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal.com to Present at the Janco Partners and Genesis Select Institutional Investor Conference

Tue, 12 Mar 2013 09:00:00 -0400

VANCOUVER, British Columbia, March 12, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com") (Nasdaq:COA) (TSX:COA), the leading online retailer of vision care products, has been invited to present at Janco Partners and Genesis Select Institutional Investor 2013 Winter Conference being held on March 14-15 at the Westin Riverfront Resort in Beaver Creek, Colorado.

Roger Hardy, Coastal's founder and CEO is scheduled to present on Friday March 15th, 2013 at 8:50 a.m. Pacific time, with one-on-one meetings held throughout the day.

About Coastal.com

Cautionary Note Regarding Forward-Looking Statements

CONTACT: For Further Information:
         
         Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal.com
         604.676.4498
         terryv@coastal.com

Source: Coastal Contacts Inc.

Coastal.com Announces First Quarter 2013 Financial Results

Mon, 11 Mar 2013 16:01:00 -0400

 
  Reports First Quarter Record Net Sales of $54.9 million, up 17%
 
  Contact lens sales increased 12% to $41.0 million from same period last year
 
  Glasses sales increased 35% to $13.9 million from same period last year
 
  U.S. glasses sales and units increased 95% from same period last year

VANCOUVER, British Columbia, March 11, 2013 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. ("Coastal.com" or "the Company") (Nasdaq:COA) (TSX:COA), the leading online provider of eyewear, today reported financial results for the first fiscal quarter ended January 31, 2013.

Total sales for the first quarter increased 17% to $54.9 million. Net loss totaled $3.4 million, or $0.12 per basic and diluted share. Non-IFRS adjusted EBITDA for the quarter totaled ($1.8 million). For the fiscal quarter ended January 31, 2013, net cash used in operating activities was $2.7 million.

"The first quarter was a solid start to the year for us with strength across both product categories and growth in all of our segmented regions. We continue to build on sequential growth in our early stage glasses business. A year ago we launched a plan to accelerate growth in the United States and our plan is on track. As expected, our financial results reflect the cost of these investments. We have experienced an increase in the number of returning glasses customers which reaffirms our overall strategy. The first quarter of 2013 has been an excellent start to the year and we look forward to reporting continued highlights as the year unfolds," said Roger Hardy, Founder and Chief Executive Officer.

First Quarter 2013 Financial Highlights

 
  Sales totaled $54.9 million, a 17% year-over-year increase.
 
  Gross profit was $22.7 million or 41% of sales.
 
  Adjusted EBITDA was ($1.8 million) compared with $1 million during the same period in 2012.
 
  Cash and equivalents of $14.6 million compared with $19.2 million at October 31, 2012.

Contact Lens Business

 
  Sales totaled $41.0 million, 12% year-over-year increase.
 
  Gross profit was $16.3 million or 40% of sales.
 
  Adjusted EBITDA for the contact lens category was 11% during the period.

Glasses Business

 
  Sales totaled $13.9 million, 35% year-over-year increase.
 
  Gross profit was $6.4 million or 46% of sales.

First Quarter 2013 Operating Metrics

 
  Orders totaled 601,167, an 18% increase year-over-year.
 
  Average order size was $91.32 compared to $92.19 in the same period in 2012.

Contact Lens Business

 
  Over 70% of our contact lens revenues and orders were derived from repeat customers.
 
  Orders totaled 362,130, a 7% increase year-over-year.
 
  Average order size was $113.28 compared to $107.58 in the same period in 2012.
 
  In-house Coastal.com brand, Splash™ products comprised 5% of contact lens units during the period.

Glasses Business

 
  Orders totaled 239,037, a 42% increase year-over-year.
 
  Average order size was $58.04 compared to $61.05 in the same period in 2012.
 
  Frames shipped were 277,159 compared to 195,513 in the same period in 2012.
 
  Private brand label frames represented 70% of frames shipped during the quarter.

Recent Operating Highlights

 
  U.S. glasses sales and units increased 95% compared to the same period in 2012.
 
  Significant improvements in our Net Promoter Scores ("NPS") across all regions and product categories. In particular, ratings for glasses customers in the U.S. increased to 77%.
 
  Ranked #3 in the Internet Retailer Social 300 for our innovative use of social media.
 
  Successful product placement of our new Derek Cardigan™ "Grammar Collection" glasses frames in two highly ranked music videos, Alicia Keys, "Brand New Me" and Flo Rida, "I Cry".
 
  Signed a multi-year licensing agreement with the widely recognized actress, Alyssa Milano to develop a line of eyeglasses and sunglasses called "Touch by Alyssa".

 
                                                               COASTAL CONTACTS INC.
                                       CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
                                                                        (CAD $000's)
                                                        January 31,     October 31,
                                                               2013            2012
                                                                                 
                                             ASSETS                               
                                     Current assets                               
                          Cash and cash equivalents       $ 14,628      $ 19,153
                        Trade and other receivables           8,312          6,681
                                        Inventories          26,619         25,435
                                   Prepaid expenses           2,601          2,250
                               Total current assets          52,160         53,519
                                 Non-current assets                               
     Property, equipment and leasehold improvements           9,957          9,887
                                  Intangible assets          12,073         11,376
                                         Goodwill            8,637          8,322
                           Total non-current assets          30,667         29,585
                                       TOTAL ASSETS       $ 82,827      $ 83,104
                                                                                 
                             LIABILITIES AND EQUITY                               
                                Current liabilities                               
                           Trade and other payables       $ 45,616      $ 40,144
                                         Provisions           1,480          1,284
                               Income taxes payable             801            839
                 Finance lease obligations, current             116            101
                                          Term loan           3,111          3,300
                         Credit facilities, current            --           1,715
                          Other current liabilities             404          3,210
                          Total current liabilities          51,528         50,593
                            Non-current liabilities                               
                        Other long-term liabilities             246            270
                          Finance lease obligations             529            457
                                  Credit facilities           1,011           -- 
                           Deferred tax liabilities           3,067          2,905
                      Total non-current liabilities           4,853          3,632
                                  Total liabilities          56,381         54,225
                                                                                 
                               Shareholders' equity                               
                                      Share capital          42,677         42,501
                       Share-based payments reserve           3,387          3,395
      Accumulated other comprehensive income (loss)             637          (137)
                                            Deficit        (20,255)       (16,880)
                         Total shareholders' equity          26,446         28,879
                       TOTAL LIABILITIES AND EQUITY       $ 82,827      $ 83,104

 
                                                                                                                
                                                                                            COASTAL CONTACTS INC.
                                                                    CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
                                                                                                     (CAD $000's)
                                                                                                                
                                         For the three months ended January 31              2013             2012
                                                                                                              
                                                                         Sales        $ 54,898       $ 46,849
                                                                 Cost of sales           32,163          27,833
                                                                  Gross profit           22,735          19,016
                                                                                                              
                                                                   Fulfillment            5,311           4,153
                                                         Selling and marketing           14,671          10,114
                                                    General and administration            5,449           4,692
                                             Results from operating activities          (2,696)              57
                                                                                                              
                                                             Financing costs               424             191
                                                                                                              
                                                      Loss before income taxes          (3,120)           (134)
                                                                                                              
                                                  Income tax expense - current              217             329
                                      Income tax expense (recovery) - deferred               38           (267)
                                                        Net income tax expense              255              62
                                                                                                              
                                                       Net loss for the period          (3,375)           (196)
                                                                                                              
                                             Other comprehensive income (loss)                                 
                                      Foreign currency translation differences              774           (746)
                                             Comprehensive loss for the period       $ (2,601)        $ (942)
                                                                                                              
                                              Basic and diluted loss per share        $ (0.12)         $ 0.00
                                                                                                              
     Weighted average number of common shares outstanding - basic and diluted       28,616,460      28,133,503

Coastal.com will host a conference call to review the financial results and Company operations on Monday, March 11, 2013 at 1:30 p.m. Pacific time. Participating in the call will be Roger Hardy, founder and CEO, Gary Collins, President and Nick Bozikis, CFO.

To attend the call, participants may dial:

North American Toll Free      1-888-892-3255

A replay of the call will be available for 7 days. To access the replay listeners may dial:

Local/International     1-800-937-6305
                Passcode             775415

To listen live and view the Coastal.com presentation via your PC log into: http://ifx.mercuri.ca?pc=686663

The following selected financial information is qualified in its entirety by, and should be read in conjunction with our audited consolidated financial statements for the fiscal year ended October 31, 2012 and accompanying notes and Management's Discussion and Analysis which may be viewed on SEDAR at www.sedar.com and EDGAR at http://www.sec.gov/edgar/searchedgar/webusers.htm.

Coastal.com's risks and uncertainties are discussed in detail in the Company's Annual Information Form dated December 19, 2012 which is also available on SEDAR and EDGAR.

Adjusted EBITDA as referenced in this news release is a Non-IFRS measure and is defined as earnings before interest, taxes, depreciation and amortization, share based compensation, listing and financing costs and restructuring charges. See "Supplemental Non-IFRS Measures" herein.

The following table provides a reconciliation of net earnings to adjusted EBITDA:

 For the three months ended January 31
                          ($000's)               2013             2012
                                                                   
                        Net (loss)            (3,375)            (196)
     Depreciation and Amortization                879              656
            Interest expense , net                121              121
     Income tax expense (recovery)                256               62
          Share-based compensation                 52              312
            Foreign exchange loss                303               70
           Management change costs                 --               --
                   Adjusted EBITDA            (1,764)            1,025

Supplemental Non-IFRS Measures

Coastal.com reports its results in accordance with IFRS, however, it presents Adjusted EBITDA and the number of orders shipped in our filings because the Company believes our investors use these figures to make investment decisions about us.

Adjusted EBITDA is a non-IFRS measure that does not have any standardized meaning prescribed by IFRS and is therefore unlikely to be comparable to similar measures presented by other companies. Adjusted EBITDA should be considered in addition to, and not as a substitute for, net earnings, cash flows and other measures of financial performance and liquidity reported in accordance with IFRS.

Adjusted EBITDA is a measure we believe is useful in assessing performance and highlighting trends on an overall basis. Adjusted EBITDA differs from the most comparable IFRS measure, net earnings, primarily because it does not include interest, income taxes, amortization, restructuring cost and share-based compensation expense.

New orders, reorders, shipped orders and active customers are non-IFRS measures that do not have a standardized meaning prescribed by IFRS and are therefore unlikely to be comparable to similar measures presented by other companies. New orders are orders shipped to new customers, net of returns. Reorders are orders shipped to returning customers, net of returns. Active customers are customers who have placed an order with us in the last 24 months.

About Coastal.com

Coastal.com is one of the largest online retailers of vision care products in the world. Coastal.com empowers customers to easily browse, try on and buy eyewear—saving time, money and sanity. With every pair of qualifying frames purchased, Coastal.com donates a pair to someone in need through its Change the View project. Founded in 2000, Coastal.com designs, produces and distributes the largest selection of glasses and contact lenses on the Internet, including a unique combination of designer glasses, contact lenses, sunglasses, and vision care accessories. Coastal.com serves customers in more than 150 countries through the Coastal Contacts family of websites including: Coastal.com, ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, Lensway.com.br, ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, and Coastallens.com.

Cautionary Note Regarding Forward-Looking Statements

All statements made in the News Release which are not current statements or historical facts constitute "forward-looking information" within the meaning of applicable Canadian securities laws and "forward-looking statements" as defined in Section 27A of the United States Securities Act of 1933, Section 21E of the United States Securities Exchange Act of 1934, the Private Securities Litigation Reform Act of 1995, or in releases made by the United States Securities and Exchange Commission, all as may be amended from time to time, and the words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect", "goal", "target", "should", "likely", "potential", "continue", "project", "forecast", "prospects", and similar expressions typically are used to identify forward-looking information and statements. Examples of such forward-looking information and statements within this News Release include information and statements relating to: Coastal.com's perceptions of the contact lens and eyeglasses industry or market and anticipated trends in that market in any of the countries in which Coastal.com does business; Coastal.com's anticipated ability to procure products and supplies, or the terms under which it may procure its products and supplies; Coastal.com's anticipated business operations, inventory levels, ability to handle specific order and call volumes, ability to fill and ship orders in a timely manner, ability to achieve greater marketing efficiency or similar statements; Coastal.com's ability to increase production; Coastal.com's capital expenditure plans; the results of further investments in Coastal.com's retail brands; Coastal.com's relationships with suppliers; Coastal.com's anticipated results of operations, including but not limited to anticipated sales, revenues, earnings, tax benefits or similar matters; the effects of seasonality; sufficiency of cash flows; Coastal.com's perceptions regarding volatility in and impact of foreign currency exchange rates; the effect of the current economic climate on Coastal.com's business and consumer behavior; and Coastal.com's ability to address challenges and opportunities resulting from current economic conditions.

Forward-looking information and statements are based on the then-current expectations, beliefs, assumptions, estimates and forecasts about Coastal.com's business and the industry and markets in which it operates. Forward-looking information and statements are not guarantees of future performance and involve risks, uncertainties and assumptions which are difficult to predict. Assumptions underlying Coastal.com's expectations regarding forward-looking information and statements contained within this News Release include, among others: that Coastal.com will maintain its position in the markets it operates in and expand into other markets in a favourable manner; that Coastal.com will have sufficient capital to continue making investments in advertising, inventory, property, equipment and leasehold improvements as well as personnel to support its business and new product lines, including its eyeglasses business; that Coastal.com will be able to generate and maintain sufficient cash flows to support its operations; that Coastal.com will be successful in complying with industry regulatory requirements in British Columbia and other jurisdictions in which it operates; that Coastal will be able to establish and/or maintain necessary relationships with suppliers; and that Coastal.com will retain key personnel. The foregoing list of assumptions is not exhaustive.

You are cautioned that forward-looking information and statements are subject to a number of known and unknown risks, uncertainties and other factors, many of which are beyond Coastal.com's control, that could cause Coastal.com's actual future results or performance to be materially different from those that are disclosed in or implied by the forward-looking information. These factors include, but are not limited to changes in the market; potential downturns in economic conditions; consumer credit risk; Coastal.com's ability to implement its business strategies; competition from traditional and online retailers; limited suppliers; limited availability of inventory; disruption in Coastal's distribution facilities; mergers and acquisitions; foreign currency exchange rate fluctuations; regulatory requirements; demand for contact lenses, eyeglasses and related vision care products; the risk that Coastal.com will not be successful in defending against litigation; dependence on the Internet; and the other risks detailed in Coastal.com's filings with the Canadian securities regulatory authorities.

You should not place undue reliance on forward-looking information and statements which are qualified in their entirety by this cautionary note.

Forward-looking information and statements in this news release are made as of the date hereof and Coastal.com expressly disclaims any intent or obligation to update such forward-looking information or statements, unless Coastal.com specifically states otherwise or as required by applicable law.

For a complete discussion of the assumptions, risks and uncertainties related to Coastal.com's business, you are encouraged to review Coastal.com's filings with the Canadian securities regulatory authorities filed on SEDAR at http://www.sedar.com.

CONTACT: Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal Contacts Inc.
         604.676.4498
         terryv@coastal.com
         
         or
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.

Coastal.com to Release Q1, 2013 Financial Results on March 11, 2013

Tue, 05 Mar 2013 17:56:00 -0500

VANCOUVER, British Columbia, March 5, 2013 (GLOBE NEWSWIRE) -- Coastal.com (Nasdaq:COA) (TSX:COA), the leading online provider of eyewear, issued notice today that it will release its fiscal 2013 first quarter financial results for the period ending January 31, 2013 on Monday, March 11, 2013 at 1:00pm ET. Coastal will host a conference call to review the financial results and company operations at 4:30pm ET the same day. Participating in the call will be Roger Hardy, Founder and CEO, Gary Collins, President and Nick Bozikis, CFO.

To attend the call participants may dial:

North American Toll Free     1-888-892-3255

A replay of the call will be available for 7 days. To access the replay listeners may dial:

Local/International     1-800-937-6305
                Passcode             775415

To listen live via your PC, log in to http://ifx.mercuri.ca?pc=6866663

About Coastal.com

Coastal.com is one of the largest online retailers of vision care products in the world. Coastal empowers customers to easily browse, try on and buy eyewear—saving time, money and sanity. With every pair of qualifying frames purchased, Coastal donates a pair to someone in need through its Change the View project. Founded in 2000, Coastal designs, produces and distributes the largest selection of glasses and contact lenses on the Internet, including a unique combination of designer glasses, contact lenses, sunglasses, and vision care accessories. Coastal serves customers in more than 150 countries through the Coastal Contacts family of websites including: Coastal.com, ClearlyContacts.ca, Lensway.com, Lensway.co.uk, Lensway.se, Lensway.com.br, ClearlyContacts.com.au, ClearlyContacts.co.nz, Contactsan.com, and Coastallens.com.

CONTACT: Terry Vanderkruyk
         Vice President, Corporate Development
         Coastal.com
         604.676.4498
         terryv@coastal.com
         
         Liolios Group Inc.
         Scott Liolios or Cody Slach
         949.574.3860
         COA@liolios.com

Source: Coastal Contacts Inc.