Truett-Hurst, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Half Year Ended December 31, 2015
February 10, 2016 at 01:11 am IST
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Truett-Hurst, Inc. reported unaudited consolidated financial results for the second quarter and half year ended December 31, 2015. For the quarter, net sales were $8,506,000 against $4,926,000 a year ago. Net income from operations was $537,000 against loss from operations of $817,000 a year ago. Net income before income taxes was $476,000 against loss before income taxes of $963,000 a year ago. Net income attributable to the company was $505,000 or $0.03 per diluted share against net loss attributable to the company of $866,000 or $0.13 per diluted share a year ago.
For the half year, net sales were $14,875,000 against $13,346,000 a year ago. Net income from operations was $359,000 against loss from operations of $985,000 a year ago. Net income before income taxes was $121,000 against loss before income taxes of $1,204,000 a year ago. Net income attributable to the company was $165,000 or $0.00 per diluted share against net loss attributable to the company of $1,053,000 or $0.15 per diluted share a year ago. Net cash provided by operating activities was $2,400,000 against net cash used in operating activities of $1,365,000 a year ago. Acquisition of property and equipment was $368,000 against $597,000 a year ago. Acquisition of intangible and other assets was $53,000 against $138,000 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.