USA: Vermont Pure Holdings, Ltd. Announces record Second Quarter Revenues
"The modest growth during the six months is reflective of cycling our transition from the retail sales volume formerly distributed by Coca Cola Enterprises to the new marketing group lead by major Snapple distributors," said Timothy Fallon, Chairman and Chief Executive Officer.
He added, "The major distributor transition combined with home and office delivery market growth, and a substantial building and equipment expansion program have required considerable resources in the recent quarters but has positioned the Company well for future growth."
Consequently, the net loss for the quarter ending April 30, 2000 was $89,000, or ($.01) per share, compared to a profit of $440,000, or $.04 per share, for the corresponding quarter in fiscal 1999. For the six month period, the per share net loss was ($.02) compared to a profit of $.05 of the previous year.
Finally, Vermont Pure Holdings, Ltd. announced on May 8, 2000 that it had signed an agreement of merger with Crystal Rock Spring Water Company, a home and office five-gallon producer and distributor in Connecticut, Massachusetts, and suburban New York City market, geographically contiguous to Vermont Pure's current market. The Company anticipates mailing a proxy statement to its shareholders in July to solicit a vote on the merger.
This announcement does not constitute an offer of securities to any person.
Vermont Pure Holdings, Ltd., located in Randolph Vermont, is a bottler and distributor of natural spring water. The company's primary business is the marketing of Vermont Pure branded natural spring water, acknowledged for its qualities of "Pure Taste - Pure Refreshment", to retail and home and office delivery markets in New England, New York, and the mid Atlantic regions. The company is currently executing a growth strategy through acquisitions and consolidation of regional home and office distributors. Vermont Pure Holdings Ltd.'s common stock trades on the American Stock Exchange under the symbol: VPS.
Note : This press release contains forward looking statements that involve a number of risks and uncertainties that could cause actual results to differ materially from those indicated by such forward looking statements, including integration of acquisitions, ability to sustain and manage growth, changing market conditions, and other risks detailed in the company's filings with the Securities and Exchange Commission.
VERMONT PURE HOLDINGS, LTD
Results of Operations
Six Months Ended: Three Months Ended:
April 30, May 1, April 30, May 1,
2000 1999 2000 1999
(000's $) (Unaudited)
Sales $ 14,648 $ 13,680 $ 8,225 $ 7,799
Net Income ($ 180) $ 511 ($ 89) $ 439
Basic Net Earnings
per Share ($ 0.02) $ 0.05 ($ 0.01) $ 0.04
Earnings per Share ($ 0.02) $ 0.05 ($ 0.01) $ 0.04
Basic Wgt. Avg
Shares Out. (000's) 10,290 10,255 10,290 10,257
Diluted Wgt Avg
Shares Out. (000's) 10,606 10,876 10,745 10,766
(a)EBITDA $ 1,805 $ 1,962 $ 1,133 $ 1,255
(a) Earnings Before Interest, Taxes, Depreciation and Amortization
US water company Vermont Pure Holdings has posted a healthy rise in sales for its fiscal year 2005....
French conglomerate Groupe Danone has sold US subsidiary DS Waters to investment fund Kelso for an undisclosed sum....
Vermont Pure Holdings Ltd. has acquired the assets of three Home and Office distributors in its core markets....
In a tough market for the home and office delivery segment of the US water market, Danone may have to cut the value of its subsidiary DS Waters, the UK's Financial Times reported today....
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