WATERTOWN, CT--(Marketwire - March 17, 2010) - 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 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)
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 Information: Contact:
Peter Baker, CEO
860-945-0661 Ext. 3001
Bruce MacDonald, CFO
802-860-1126