WATERTOWN, CT--(Marketwire - September 14, 2009) - Vermont Pure Holdings, Ltd. (
NYSE Amex:
VPS)
announced its financial results for the first nine months and third 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 nine months of fiscal year 2009 decreased 4% to
$49.5 million from $51.8 million for the comparable period a year ago.
Gross profit decreased 10% in the first nine months of 2009 to $26.4
million from $29.3 million in the comparable period a year earlier. Gross
profit, as a percentage of sales, decreased to 53% from 57% for the
respective periods. Income for operations declined $2.1 million, or 39%,
for the nine months ending July 31, 2009 compared to the same period a year
ago. Net income increased to $2.6 million in the first nine months of
fiscal year 2009 compared to $2 million in the first nine months of fiscal
year 2008.
Total sales for the three months ending July 31, 2009 decreased 4% to $17.2
million from $18 million for the comparable period a year ago. Gross
profit decreased 8% for the third quarter of 2009 to $9.5 million from
$10.3 million in the comparable period a year earlier. Gross profit, as a
percentage of sales, decreased to 55% in the third quarter of 2009 from 57%
for the third quarter a year ago. Income for operations declined $885,000,
or 37%, for the third quarter of 2009 compared to the same period a year
ago. Net income increased for the three months ended July 31, 2009 to $2.3
million from $1 million for the comparable period last year. Net income
increased as a result of a one-time increase in non-operating income in the
third quarter of 2009.
"Despite the challenges posed by the economic environment, which have
resulted in lower sales, our operations continue to be profitable," said
Peter Baker, C.E.O. of Vermont Pure Holdings, Ltd. "We plan to leverage our
extensive distribution system to capitalize on opportunities in the
marketplace to position the Company for future growth," 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 Pure® brand and
purified water with minerals added under the Crystal Rock® 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)
Nine Months Ended: Three Months Ended:
--------------------- ---------------------
July 31, July 31, July 31, July 31,
2009 2008 2009 2008
---------- ---------- ---------- ----------
(000's $)
Sales $ 49,514 $ 51,809 $ 17,207 $ 17,986
Income from operations $ 3,373 $ 5,490 $ 1,481 $ 2,366
Net Income $ 2,620 $ 2,011 $ 2,293 $ 1,029
Basic net earnings per share $ 0.12 $ 0.09 $ 0.11 $ 0.05
Diluted net earnings per share $ 0.12 $ 0.09 $ 0.11 $ 0.05
Basic Wgt. Avg. Shares Out.
(000's) 21,527 21,587 21,538 21,524
Diluted Wgt Avg. Shares Out.
(000's) 21,527 21,587 21,538 21,524
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 Information: Contact:
Peter Baker
CEO
860-945-0661 Ext. 3001
Bruce MacDonald
CFO
802-860-1126