Vermont Pure Holdings, Ltd. Announces Financial Results for its First Six Months and Quarter Ending April 30, 2009
15 6월 2009 - 11:11PM
PR Newswire (US)
WATERTOWN, Conn., June 15 /PRNewswire-FirstCall/ -- Vermont Pure
Holdings, Ltd. (NYSE Alternext: VPS) announced its financial
results for the first half and second quarter of its fiscal year
2009 and that it will file these results on Form 10-Q with the
Securities and Exchange Commission today. Total sales for the first
six months of fiscal year 2009 decreased 4% to $32.3 million from
$33.8 million for the comparable period a year ago. Gross profit
decreased 11% in the first half of 2009 to $17 million from $19
million in the comparable period a year earlier. Gross profit, as a
percentage of sales, decreased to 52% from 56% for the respective
periods. Net income decreased to $327,000 in the first six months
of fiscal year 2009 compared to $983,000 in the first six months of
fiscal year 2008. Total sales for the three months ending April 30,
2009 decreased 4% to $16.8 million from $17.4 million for the
comparable period a year ago. Gross profit decreased 10% for the
second quarter of 2009 to $8.8 million from $9.8 million in the
comparable period a year earlier. Gross profit, as a percentage of
sales, decreased to 53% in the second quarter of 2009 from 56% for
the second quarter a year ago. Net income decreased for the three
months ended April 30, 2009 from $232,000 compared to $471,000 for
the comparable period last year. "Although our business has been
negatively affected by the recessionary economic environment, we
remain profitable despite experiencing lower margins in the first
half of the year for most of our product lines," said Peter Baker,
C.E.O. of Vermont Pure Holdings, Ltd. "We expect to be able to take
advantage of new opportunities that our distribution base presents
in future quarters including fully integrating the Blue Hills
Spring Water Company acquisition into our Boston market operations.
However, we expect fiscal 2009 to be less profitable than fiscal
2008," Baker concluded. Blue Hills is better known by its popular
brand Monadnock Mountain Spring Water. Vermont Pure Holdings, Ltd.
(NYSE Alternext: VPS), the largest independent home and office
distributor of its kind in the United States, markets water, coffee
and other home and office refreshment products throughout the
Northeast through its subsidiary Crystal Rock LLC. The Company
bottles and distributes natural spring water under the Vermont
Pure(R) brand and purified water with minerals added under the
Crystal Rock(R) label. The majority of its sales are derived from a
route distribution system that delivers water in 3- to 5-gallon
reusable and recyclable bottles. The Company continues to set high
standards in the bottled water industry through its technical
innovation, commitment to the environment and by integrating its
family roots into relationships with employees and customers. More
information is available at http://www.crystalrock.com/. VERMONT
PURE HOLDINGS, LTD Results of Operations (Unaudited) (Unaudited)
Six Months Ended: Three Months Ended: April 30, April 30, April 30,
April 30, 2009 2008 2009 2008 (000's $) Sales $32,308 $33,823
$16,756 $17,438 Income from operations $1,893 $3,124 $1,060 $1,578
Net Income $327 $983 $232 $471 Basic net earnings per share $0.02
$0.05 $0.01 $0.02 Diluted net earnings per share $0.02 $0.05 $0.01
$0.02 Basic Wgt. Avg. Shares Out. (000's) 21,521 21,619 21,541
21,624 Diluted Wgt Avg. Shares Out. (000's) 21,521 21,619 21,541
21,624 Note: This press release contains forward looking statements
that involve a number of risks and uncertainties that could cause
actual results to differ materially from those indicated by such
forward looking statements, including integration of acquisitions,
ability to sustain and manage growth, changing market conditions,
and other risks detailed in the company's filings with the
Securities and Exchange Commission. DATASOURCE: Vermont Pure
Holdings, Ltd. CONTACT: Peter Baker, CEO, +1-860-945-0661, Ext.
3001; or Bruce MacDonald, CFO, +1-802-860-1126, both of Vermont
Pure Holdings, Ltd. Web Site: http://www.crystalrock.com/
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