The charges relate to the write-off of a portion of the company’s enterprise technology platform, an impairment reserve on the underperforming Lost Hills Vineyard and a pre-payment penalty on principal payment of debt. Excluding those items, the company said the net loss was $3.5m, or 36 cents a share.
US: Golden State Vintners reports increased Q4 loss
Napa-based wine group, Golden State Vintners, reported a net loss of $7.21m for its fourth quarter to the end of June against a loss of $1.78m in the corresponding period in 2001. The company said the 2002 figure included net charges of $3.8m.
September 25, 2002