US: Weak pricing hits Vermont Holdings' H1
The home and office water delivery (HOD) company Vermont Pure Holdings, today announced sales for its second quarter ended April 30, 2004 up 11% to US$13,182,000 from US$11,923,000 the same period in 2003.
Sales for the six months ended April 30, 2004 increased 7% to US$25,180,000 from US$23,441,000 for the same period in 2003. The increase in the base business was attributed to sales of coffee products while water related products were off slightly.
Income before taxes from continuing operations was US$187,000 for the second quarter versus US$386,000 in the second quarter of fiscal year 2003.
The loss before taxes from continuing operations was US$132,000 for the first six months of fiscal year 2004 versus income of US$439,000 in the first six months of fiscal year 2003.
The decrease for both periods was attributable to lower gross profit due to lower selling prices, increased sales of lower margin single cup coffee products, and higher transportation, fuel, and insurance costs for the period.
Vermont Pure Holdings is the largest independent and third largest Home and Office distributor of its kind in the US.
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