Truett-Hurst, Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended September 30, 2016
November 07, 2016 at 07:29 pm IST
Share
Truett-Hurst, Inc. reported unaudited consolidated earnings results for the first quarter ended September 30, 2016. For the quarter, the company reported sales of $6,102,000 against $6,533,000 a year ago. Loss from operations was $223,000 against $178,000 a year ago. Net income before income taxes was $555,000 against loss of $354,000 a year ago. Net income from continuing operations was $554,000 against loss of $354,000 a year ago. Net income attributable to the company was $317,000 against loss of $212,000 a year ago. Basic earnings per share was $0.07 against $0.05 loss per share a year ago. Net cash provided by operating activities was $646,000 against $37,000 a year ago. Acquisition of property and equipment were $288,000 against $260,000 a year ago. Acquisition of intangible and other assets were $15,000 against $42,000 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.