Truett-Hurst, Inc. Announces Consolidated Earnings Results for the Year Ended June 30, 2016
September 21, 2016 at 03:30 pm IST
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Truett-Hurst, Inc. announced consolidated earnings results for the year ended June 30, 2016. For the year, the company announced net sales of $25,783,000 compared to $21,642,000 for the same period a year ago. Net loss from operations was $78,000 compared to $1,887,000 for the same period a year ago. Net loss before income taxes was $546,000 compared to $2,284,000 for the same period a year ago. Net loss from continuing operations was $548,000 compared to $2,286,000 for the same period a year ago. Net loss attributable to the company was $244,000 compared to $1,361,000 for the same period a year ago. Net loss per share, basic and diluted was $0.06 compared to $0.35 for the same period a year ago. Net cash provided by operating activities was $1,725,000 compared net cash used in operating activities of $2,799,000 for the same period a year ago. Acquisition of property and equipment was $428,000 compared to $681,000 for the same period a year ago. Acquisition of intangible and other assets was $137,000 compared to $321,000 for the same period 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.