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US: Earnings leap by 61% at Stimson Lane

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The Washington State wine company, Stimson Lane Vineyards & Estates, reported a 61.4% increase in operating profits in the first half of 2002 to $12.2m. Sales revenues at the company rose by 8.3% in the first six months to $90.7m.

Sales for all Stimson Lane brands rose by 14% in the second quarter, the company said, with growth spearheaded by a 25% increase for the company's Chateau Ste. Michelle brand. "This was another strong quarter for us at Stimson Lane," said the company's president and CEO, Theodor P. Baseler. "We remain focused on building our core brands, improving product quality and implementing cost efficiencies and asset reductions."

Other brands in the Stimson Lane portfolio include Columbia Crest, Snoqualmie and Domaine Ste. Michelle wines from Washington State, and the Napa Valley brands, Conn Creek and Villa Mt. Eden. The company sells around 3m cases of wine a year, equating to 65% of the total wine business in Washington State. Revenues for the full 2001 fiscal year reached $188.9m.


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