Vermont Pure Holdings, Ltd. Announces Financial Results for Its First Quarter Ending January 31, 2010
18 March 2010 - 12:15AM
Marketwired
Vermont Pure Holdings, Ltd. (NYSE Amex: VPS) announced its
financial results for the first quarter of its fiscal year 2010 and
that it will file these results on Form 10-Q with the Securities
and Exchange Commission today.
Total sales for the three months ending January 31, 2010
increased 4% to $16.2 million from $15.5 million for the comparable
period a year ago. Without including sales from acquisitions
consummated in 2009, sales decreased by 1% in the first quarter of
2010 compared to the same period in 2009. Gross profit increased 5%
for the first quarter of 2010 to $8.5 million from $8.1 million in
the first quarter a year earlier. Gross profit, as a percentage of
sales, increased to 53% in the first quarter of 2010 from 52% for
the first quarter a year ago. Income from operations increased
$83,000, or 10%, for the first quarter of 2010 compared to the same
period a year ago. Net income improved 87% for the three months
ended January 31, 2010 to $178,000 from $95,000 for the comparable
period last year.
"The economy remains soft in the markets in which we operate. As
a result, we are not certain that we can sustain growth for the
balance of the fiscal year at the same rate as our first quarter,"
said Peter Baker, C.E.O. of Vermont Pure Holdings, Ltd. "However,
during these challenging economic times, we will continue to be
efficient and creative in how we operate our business in order to
grow organically," Baker concluded.
Vermont Pure Holdings, Ltd. (NYSE Amex: 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 PureĀ® brand and purified water with minerals
added under the Crystal RockĀ® 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)
Three Months Ended:
-------------------------------
January 31, January 31,
2010 2009
-------------- --------------
(000's $)
Sales $ 16,185 $ 15,552
Income from operations $ 916 $ 833
Net Income $ 178 $ 95
Basic net earnings per share $ 0.01 $ 0.00
Diluted net earnings per share $ 0.01 $ 0.00
Basic Wgt. Avg. Shares Out. (000's) 21,475 21,502
Diluted Wgt Avg. Shares Out. (000's) 21,475 21,502
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.
Contact: Peter Baker, CEO 860-945-0661 Ext. 3001 Bruce
MacDonald, CFO 802-860-1126
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