Truett-Hurst, Inc. Reports Consolidated Earnings Results for the First Quarter Ended September 30, 2017
November 20, 2017 at 04:16 pm
Share
Truett-Hurst, Inc. reported consolidated earnings results for the first quarter ended September 30, 2017. For the quarter, the company reported sales of $6,417,000 against $6,102,000 a year ago. Net loss from operations was $177,000 against $223,000 a year ago. Net loss before income taxes was $293,000 against net income before income taxes of $555,000 a year ago. Net loss from continuing operations was $293,000 against net income from continuing operations of $554,000 a year ago. Net loss attributable to the company was $176,000 against net income attributable to the company of $317,000 a year ago. Basic and diluted loss per share was $0.07 against diluted earnings per share of $0.04 a year ago. Net cash used in operating activities was $750,000 against net cash provided by operating activities of $37,000 a year ago. Acquisition of property and equipment were $535,000 against $288,000 a year ago. Acquisition of intangible and other assets were $6,000 against $15,000 a year ago. Total net sales from continuing operations totaled $6.2 million, an increase of 5.2% compared to the prior year. The increase was due to higher sales in the broad market and sales to one large retailer.
Truett-Hurst, Inc. is a holding company for H.D.D. LLC (the LLC). The Company is a producer of luxury wines and operates two wine tasting rooms and leases a winery where wine is produced from many varieties of grapes principally grown or purchased in Sonoma Countyâs Dry Creek Valley and Russian River Valley appellations. The Company has a space for wine production within a custom crush facility located in Santa Rosa, California. The Company operates its direct to consumer (the DTC) business in Healdsburg, California. The DTC channel consists of sales of products produced by the Company through its own tasting rooms, wine clubs and websites. Its wine portfolio offers a range of single vineyards and blends.