USA: National Wine & Spirits, Inc. Reports Results for the Quarter Ended June 30, 2000
Indianapolis-based National Wine & Spirits, Inc. reported its financial results for the quarter ended June 30, 2000. Net income was $10.2 million for the quarter, driven by the sale of Cameron Springs for approximately $10 million in cash. Revenue for the quarter decreased 4.6% to $162.2 million compared to $170.1 million in the prior year, which was in line with our expectations. Gross margin increased $0.7 million from the prior year due to increased margin percentages.The revenue for the current quarter ended June 30, 2000, shows a decline from the same quarter in the prior year, reflecting excessively higher sales in the prior year due to a significant buy-in by the retail trade in the Illinois market due to a state tax increase that was effective July 1, 1999. Improved gross margins in Illinois and other markets offset the revenue declines.Net income for the quarter increased $6.4 million to $10.2 million, compared to $3.8 million for the prior year's quarter. EBITDA was $8.2 million as compared to $8.8 million in the prior year, also within our expectations. EBITDA was $25.8 million for the latest twelve months ended June 30, 2000 as compared to $23.3 million for the twelve-month period ended June 30, 1999.Indianapolis-based National Wine & Spirits, Inc. is one of the leading distributors of alcohol beverages in the U.S. The Company has a strong portfolio that includes brands from Seagram (VO), Fortune Brands (FO), Diageo (DEO), Canandaigua Brands(CDB), Brown-Forman (BFA;BFB), Allied Domecq, Sebastiani Winery, Sutter Home Winery, Banfi, and Beringer Wine(BERW) among others.Forward-looking statements "as defined in the Private Securities Litigation Reform Act of 1995" may be included in this news release. A variety of factors could cause the Company's actual results to differ from the reported results expressed in such forward-looking statements.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 15 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Why Didn't Diageo Act Sooner on Mallya?
- just The Facts - The Global Wine Industry
- CCE head shines light on price talks
- Interview: Head brewer at Hall & Woodhouse
- just On Call - Pernod shifts Scotch focus in China
- A-B InBev "regrets" Bud Light bottle message
- Diageo teams Johnnie Walker up with Entourage
- MEPs call for calorie, ingredient facts on alcohol
- Bacardi opens Dewar’s Travel Retail whisky store
- Pernod readies Avion Tequila US sweepstake
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- ALDI 2015: Radically transforming Anglo Saxon grocery markets
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research