USA: National Wine & Spirits, Inc. Reports Results for the Fiscal Year Ended
Indianapolis-based National Wine & Spirits, Inc. reported its financial results for the year ended March 31, 2000. Revenue for the year increased 13.1% to $625.8 million compared to $553.4 million in the prior year.The revenue gain reflects the continued shift by consumers to more premium brands, the addition of new suppliers and brands to the company portfolio, and price increases due to suppliers and the Illinois tax increase.Net income for the year increased to $5.9 million compared to $1.2 million. The Company achieved a 30.0% increase in EBITDA to $26.5 million compared to $20.4 million in the prior year.The Company sold its Cameron Springs bottled water operation to Great Spring Waters of America, Inc. (Perrier) in June, 2000, for $10.5 million in cash, which was in excess of net book value. Cameron had been an operating division of the Company since 1991 and is a leading supplier of bottled water in Indiana.
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