Vermont Pure Holdings, Ltd. Announces Financial Results for its Second Fiscal Quarter Ending April 30, 2007
14 Giugno 2007 - 4:00PM
PR Newswire (US)
- Sales growth drives increase in earnings - WATERTOWN, Conn., June
14 /PRNewswire-FirstCall/ -- Vermont Pure Holdings, Ltd. (AMEX:VPS)
announced its financial results for the second quarter of its
fiscal year 2007 and that it will file these results on Form 10-Q
with the Securities and Exchange Commission today. Total sales for
the second quarter of fiscal year 2007 increased 3% to $15.7
million from $15.2 million for the comparable period a year ago.
The second quarter sales bring sales for the first six months of
the year to $31 million compared to $29.9 million for the
comparable period in 2006, an increase of 4%. Gross profit
decreased 1% in the second quarter of 2007 to $8.7 million, or 55%
of sales, from $8.8 million, or 57% of sales, for the quarter in
2006. For the six months ended April 30, 2007, gross profit
increased 2% to $17.2 million from $17 million in the first half of
2006. Net income decreased 13% to $412,000 in the second quarter of
fiscal year 2007 compared to $475,000 in the second quarter of
fiscal year 2006. For the first six months, net income increased
30% to $703,000 in 2007 from $540,000 in 2006. "Consistent
quarterly sales growth continues to produce strong cash flow for
debt reduction, capital expansion, and acquisitions," said Peter
Baker, C.E.O. of Vermont Pure Holdings, Ltd. "In addition, we plan
to invest in increased advertising the third and fourth quarters to
enhance long term growth," Baker concluded. Vermont Pure Holdings,
LTD. is the largest independent and third largest Home and Office
distributor of its kind in the United States. The Company bottles
and distributes natural spring water and purified with minerals
added bottled water under the Crystal Rock(R) and the Vermont
Pure(R) trademarks. It markets its bottled water brands, as well as
coffee and other home and office refreshment products, to customers
throughout New England and New York. Vermont Pure Holdings Ltd.'s
common stock trades on the American Stock Exchange under the
symbol: VPS. VERMONT PURE HOLDINGS, LTD Results of Operations
(Unaudited) (Unaudited) Six Months Ended: Three Months Ended: April
30, April 30, April 30, April 30, 2007 2006 2007 2006 (000's $)
Sales $30,979 $29,854 $15,677 $15,241 Income from operations $2,797
$2,574 $1,489 $1,637 Net Income $703 $540 $412 $475 Basic net
earnings per share $0.03 $0.02 $0.02 $0.02 Diluted net earnings per
share $0.03 $0.02 $0.02 $0.02 Basic Wgt. Avg. Shares Out. (000's)
21,629 21,627 21,635 21,646 Diluted Wgt Avg. Shares Out. (000's)
21,629 21,627 21,635 21,646 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.vermontpure.com/
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