US: Willamette Valley profits fall in Q1
Willamette Valley Vineyards has seen a fall in its net profit in the first quarter of the year despite a rise in revenues. The company said this was principally because of unusually high margins experienced in the prior year period.
Willamette Valley reported a net profit of US$88,759, or US$0.02 per basic share on revenue of US$2,375,078 in the three months ended March 31, 2005 as compared to a net profit of US$125,521, or US$0.03 per share on revenues of US$1,843,626 for the same period in 2004.
Gross margins in 2005 were in line with expectations at 46%, as compared to 52% in the prior year period.
Total sales increased 29% over the prior period and gross profit increased 13% (US$129,029) over the prior year period.
This increase was exceeded, however, by an increase in selling, general and administrative expenses of 29% ($202,658) over the prior year period. As a consequence of the increase in expenses, operating income declined as compared to the prior year period.
- Spirits - Where does 'Craft' End and 'Mass' Begin?
- Brewers go Crazy over Flavoured Malt “Cocktails”
- What do A-B InBev results mean for SABMiller deal?
- Anheuser-Busch InBev's FY Performance by Region
- Much Work to do on Packaging in the US
- Diageo "smart bottle" targets consumers at home
- Tesco reinstates Dan Jago following suspension
- Tough US hits Mast-Jagermeister volumes in 2014
- Suntory whiskey seeks to "eclipse" Diageo, Pernod
- George Clooney launches Tequila Casamigos in UK
- Wine, 2014 and the future
- Spirits and RTDs, 2014 and the future
- Global RTD/RTS insights - market forecasts, product innovation and consumer trends research
- Beam Suntory Inc. - Strategy and SWOT Report