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.


TABLE OF RESULTS

Years Ended March 31,
(in thousands) 2000 1999 1998

Net products sales $604,987 $535,521 $505,141
Distribution fees 20,770 17,832 16,270
Total revenue 625,757 553,353 521,411

Gross profit 137,313 116,619 109,677

Operating Expenses 119,751 104,634 99,118

Income from operations 17,562 11,985 10,559

Net income $5,855 $1,159 $7,111

EBITDA 26,467 20,359 17,674
EBITDA margin 4.2% 3.7% 3.4%

Cases shipped
(all products). 13,454 11,677 10,859


Indianapolis-based National Wine & Spirits, Inc. is one of the leading distributors of alcohol beverages in the U.S. The Company has a strong portfolio that includes brands from Seagram (VO), Fortune Brands (FO), Diageo (DEO), Beringer Wine (BERW), and Canandaigua Brands (CBRNA).

Forward-looking statements "as defined in the Private Securities Litigation Reform Act of 1995" may be included in this news release. A variety of factors could cause the Company's actual results to differ from the reported results expressed in such forward-looking statements.