Truett-Hurst, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended March 31, 2016
May 10, 2016 at 03:00 pm
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Truett-Hurst, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended March 31, 2016. For the quarter, the company's sales were $5,090,000 compared to $4,867,000 a year ago. Net sales were $4,906,000 compared to $4,742,000 a year ago. Net loss from operations was $29,000 compared to $269,000 a year ago. Net loss before income taxes was $182,000 compared to $411,000 a year ago. Net loss before non-controlling interest from continuing operations was $183,000 compared to $411,000 a year ago. Net loss attributable to Truett-Hurst, Inc. and H.D.D. LLC was $183,000 compared to $438,000 a year ago. Net loss attributable to Truett-Hurst, Inc. was $93,000 compared to $260,000 a year ago. Basic and diluted net loss per share was $0.02 compared to $0.07 a year ago.
For the nine months, the company's sales were $20,367,000 compared to $15,359,000 a year ago. Net sales were $19,780,000 compared to $14,933,000 a year ago. Net income from operations was $329,000 compared to net loss from operations of $1,187,000 a year ago. Net loss before income taxes was $61,000 compared to $1,548,000 a year ago. Net loss before non-controlling interest from continuing operations was $62,000 compared to $1,548,000 a year ago. Net loss attributable to Truett-Hurst, Inc. and H.D.D. LLC was $17,000 compared to $1,490,000 a year ago. Net loss attributable to Truett-Hurst, Inc. was $72,000 compared to $834,000 a year ago. Basic and diluted net loss per share was $0.02 compared to $0.22 a year ago. Net cash provided by operating activities was $2,659,000 compared to net cash used in operating activities of $2,733,000 a year ago. Acquisition of property and equipment was $395,000 compared to $615,000 a year ago. Acquisition of intangible and other assets was $125,000 compared to $240,000 a year ago.
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.