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AC Lens Continues Rapid Growth, Looks to Extend Its Reach in Growing Retail Contact Lens MarketDate: 10/25/2005
After posting 48% growth through Q3 2005, AC Lens is exploring private placement options in order to leverage its proprietary technology and industry expertise to capture an even larger share of the booming online contact lens market.
AC Lens continues to grow and thrive in the extremely competitive online retail contact lens market. The company reported sales of $7.7M year-to-date through September 30, and according to company executives, this represents a gain of 48% in comparison with the first nine months of 2004. AC Lens expects total sales of $10.5 to $11M for 2005.
"We have been profitable in each year of our existence, and we expect to continue our record of profitable growth again this year." Commented CEO Peter M. Clarkson, "I am delighted with the progress we have made since 2004, and am confident that we will see continued success into 2006 and beyond"
The company is currently exploring options for a private placement next year. "We are proud of the fact that we have continued to thrive without the need for external investment or capital, and that the company remains long-term debt-free. Our growth has been fueled by our own success, and is founded on the outstanding customer service experience provided by our team. Now, however, we are considering the possibility of a private placement in order to leverage our proprietary technology, facilities and systems to increase our retail market share, and take AC Lens to the next level."
"Our technology and marketing teams have put the right groundwork in place, and we are now poised to aggressively expand further into the ever-growing retail online contact lens market," stated Clarkson. "In addition, in 2005 we have successfully implemented two turnkey solutions with prominent vision benefit providers. We see opportunities expanding in this market in 2006."
A full-service online contact lens and contact lens accessory retailer since 1996, AC Lens has grown profitably each year of its existence. This success is largely attributed to effective strategic planning, outstanding industry expertise, and a dedication to customer service that continues to bring customers back.
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