~~CONSOLIDATED~~UNITED STATEMENTS OF OPERATIONS ------------------------------------- (Dollars in thousands) FISCAL 2002 ----------------------------------------------------------------------- FISCAL 2003 FIRST SECOND THIRD FOURTH FULL FIRST QUARTER QUARTER QUARTER QUARTER YEAR QUARTER ----------- ----------- ----------- ----------- ----------- ----------- Net revenue $ 285,441 $ 292,390 $ 275,501 $ 294,787 $ 1,148,119 $ 288,249 Costs and expenses: Cost of revenues 100,007 103,020 97,511 108,437 408,975 105,913 Operating expenses 176,473 179,178 178,139 177,084 710,874 184,494 ----------- ----------- ----------- ----------- ----------- ----------- Total costs and expenses 276,480 282,198 275,650 285,521 1,119,849 290,407 ----------- ----------- ----------- ----------- ----------- ----------- Operating income (loss) 8,961 10,192 (149) 9,266 28,270 (2,158) Interest and other (income) expense, net: Interest expense 6,964 6,651 6,370 6,335 26,320 6,260 Interest and other income, net (509) (258) 56 (348) (1,059) (183) Loss on early extinguishment of debt -- 11,141 -- -- 11,141 -- ----------- ----------- ----------- ----------- ----------- ----------- Total interest and other (income) expense, net 6,455 17,534 6,426 5,987 36,402 6,077 ----------- ----------- ----------- ----------- ----------- ----------- Income (loss) before income taxes 2,506 (7,342) (6,575) 3,279 (8,132) (8,235) Income tax provision (benefit) 2,585 16 (6,777) 3,381 (795) (1,647) ----------- ----------- ----------- ----------- ----------- ----------- Net income (loss) $ (79) $ (7,358) $ 202 $ (102) $ (7,337) $ (6,588) =========== =========== =========== =========== =========== ===========STATES

~~RESULTS~~SECURITIES OFAND ~~OPERATIONS~~EXCHANGE (Dollars in millions) FISCAL 2002 ----------------------------------------------------------------------- FISCAL 2003 FIRST SECOND THIRD FOURTH FULL FIRST QUARTER QUARTER QUARTER QUARTER YEAR QUARTER ----------------------------------------------------------------------- ----------- Net revenue: Cole Vision $ 232.9 $ 218.1 $ 221.8 $ 204.7 $ 877.5 $ 233.5 Things Remembered 52.5 74.3 53.7 90.1 270.6 54.7 ---------------------------------------------------------------------- -------- Total net revenue $ 285.4 $ 292.4 $ 275.5 $ 294.8 $ 1,148.1 $ 288.2 Gross margin: Cole Vision $ 146.8 $ 135.7 $ 138.4 $ 126.1 $ 547.0 $ 142.7 Things Remembered 38.6 53.7 39.6 60.2 192.1 39.7 ---------------------------------------------------------------------- -------- Total gross margin $ 185.4 $ 189.4 $ 178.0 $ 186.3 $ 739.1 $ 182.4 Operating expenses: Cole Vision $ 133.5 $ 132.8 $ 132.3 $ 117.8 $ 516.4 $ 133.5 Things Remembered 40.4 43.9 42.3 50.4 177.0 42.2 Unallocated corporate expenses 2.5 2.5 3.6 8.8 17.4 8.9 ---------------------------------------------------------------------- -------- Total operating expenses $ 176.4 $ 179.2 $ 178.2 $ 177.0 $ 710.8 $ 184.6 Operating income (loss): Cole Vision $ 13.3 $ 2.9 $ 6.1 $ 8.3 $ 30.6 $ 9.2 Things Remembered (1.8) 9.8 (2.7) 9.8 15.1 (2.5) Unallocated corporate expenses (2.5) (2.5) (3.6) (8.8) (17.4) (8.9) ---------------------------------------------------------------------- -------- Total operating income (loss) $ 9.0 $ 10.2 $ (0.2) $ 9.3 $ 28.3 $ (2.2) ====================================================================== ======== Percentage of net revenue: Gross margin 65.0% 64.8% 64.6% 63.2% 64.4% 63.3% Operating expenses 61.8% 61.3% 64.7% 60.1% 61.9% 64.0% Operating income (loss) 3.1% 3.5% (0.1)% 3.1% 2.5% (0.7)%COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act OF 1934

Date of Report (Date of Earliest Event Reported): April 13, 2004

COLE NATIONAL GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)


DELAWARE	33-66342	34-1744334
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)


1925 ENTERPRISE PARKWAY TWINSBURG, OHIO		44087
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s telephone number, including area code:		(330) 486-3100

Not Applicable
(Former name or former address, if changed since last report.)

Item 7. Financial Statements, Pro Forma Financial Information and Exhibits.

99.1 Press release of Cole National Corporation, dated April 13, 2004.

Item 12. Results of Operations and Financial Condition

On April 13, 2004, Cole National Corporation (the “Parent Company”) issued a press release, a copy of which is being furnished as Exhibit 99.1 hereto and is incorporated herein by reference. Pursuant to the rules and regulations of the Securities and Exchange Commission, such exhibit and the information set forth therein and herein shall be deemed “furnished” and not “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.


	COLE NATIONAL GROUP, INC.

	By:	/s/ Ann M. Holt

		Name: Ann M. Holt Title: Sr. Vice President and Corporate Controller

Date: April 13, 2004

EXHIBIT INDEX


EXHIBIT
NUMBER		DESCRIPTION
99.1		Press release of Cole National Corporation, dated April 13, 2004.

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