Eastside Distilling, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2022
August 12, 2022 at 01:41 am IST
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Eastside Distilling, Inc. reported earnings results for the second quarter and six months ended June 30, 2022. For the second quarter, the company reported sales was USD 5.12 million compared to USD 3.62 million a year ago. Revenue was USD 4.86 million compared to USD 3.45 million a year ago. Net loss was USD 1.79 million compared to USD 1.77 million a year ago. Basic loss per share was USD 2.4 compared to USD 2.8 a year ago. Diluted loss per share was USD 2.4 compared to USD 2.8 a year ago.
For the six months, sales was USD 8.9 million compared to USD 6.86 million a year ago. Revenue was USD 8.6 million compared to USD 6.59 million a year ago. Net loss was USD 3.82 million compared to net income of USD 1.94 million a year ago. Basic loss per share was USD 5.2 compared to basic earnings per share of USD 3.4 a year ago. Diluted loss per share was USD 5.2 compared to diluted earnings per share of USD 2.6 a year ago.
Eastside Distilling, Inc. is engaged in producing craft spirits in Portland, Oregon. The Company operates through two segments: Craft Canning + Printing and Spirits. Its Craft Canning + Printing segment provides digital can printing services to customers in the craft beverage industry operating throughout the Pacific Northwest as well as other states. It also provides mobile canning services to the craft beverage industry in Oregon. In addition to these services, the Company offers co-packing services from a single fixed site in Portland, Oregon. It offers co-packing services for non-alcoholic canned beverages, including CBD soda waters in Portland, Oregon. Its Spirits segment manufactures, blends, bottles, markets and sells a variety of alcoholic beverages under brands in 23 states in the United States. Its portfolio includes originals like the Quercus garryana barrel-finished Burnside Whiskey family, Portland Potato Vodka, Hue-Hue Coffee Rum, Azunia Tequilas and Eastside Brands.