US: Willamette Q3 profit slides
Willamette Valley Vineyards, Inc. has posted its Q3 results. The company announced on Friday (19 November) that net profit for the three-month period to 30 September fell slightly to US$114,532, or US$0.03 per basic share, from US$143,867, or US$0.03 per share in the corresponding period last year.
Revenue in the quarter was up, however, hitting US$2.3m against US$1.9m for the same period in 2003.
For the nine months to 30 September, the company reported a net profit of US$310,698, or US$0.07 per basic share on revenues of US$6.26m compared to a net profit of US$200,765, or US$0.04 per basic share on revenues of US$4.95m for the same period in 2003.
Operating performance in the three- and nine month-periods increased primarily due to strong sales to out-of-state distributors and Oregon restaurant and retail outlets, Willamette said.
Operating income increased by 19% to US$270,945 for the three-month-period and 56% to US$732,625 in the nine-month period.
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