A one-dimensional (1D) theory of lateral spin-polarized transport is derived from the two-dimensional flow in the vertical cross section of a stack of ferromagnetic and paramagnetic layers. This takes into account the influence of the lead on the lateral current underneath, in contrast to the conventional 1D modeling by the collinear configuration of lead/channel/lead. Our theory is convenient and appropriate for the current in-plane configuration of an all-metallic spintronics structure as well as for the planar structure of a semiconductor with ferromagnetic contacts. For both systems we predict the optimal contact width for maximal magnetoresistance and propose an electrical measurement of the spin-diffusion length for a wide range of materials.