SCHEID FAMILY WINES REPORTS FIRST QUARTER FISCAL 2025 RESULTS
Financial Results
Total revenues increased 4%, to
Sales and marketing expenses decreased 10%, to
During the first quarter of fiscal 2025, the Company recognized revenue of
Interest expense rose 27%, to
Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to
In total, the Company reported net income of
SCHEID VINEYARDS INC. AND SUBSIDIARY |
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UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS |
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THREE MONTHS ENDED |
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(amounts in thousands, except per share data) |
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Three Months Ended |
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2024 |
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2023 |
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REVENUES: |
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Cased goods sales |
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$ |
11,006 |
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$ |
10,886 |
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Bulk wine sales |
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1,769 |
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1,801 |
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Winery processing and storage revenues |
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1,131 |
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787 |
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Direct sales revenues |
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936 |
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869 |
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Other revenues |
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103 |
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96 |
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Total revenues |
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14,945 |
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14,439 |
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COST OF SALES |
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(11,083) |
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(11,349) |
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GROSS PROFIT |
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3,862 |
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3,090 |
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Sales and marketing expenses |
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(2,686) |
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(3,017) |
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General and administrative expenses |
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(1,689) |
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(1,934) |
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LOSS FROM OPERATIONS |
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(513) |
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(1,861) |
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Interest expense, net |
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(1,946) |
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(1,485) |
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Proceeds from contract dissolution |
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3,613 |
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— |
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Gain on sale of equipment |
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27 |
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79 |
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INCOME (LOSS) BEFORE (PROVISION FOR) BENEFIT FROM INCOME TAXES |
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1,181 |
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(3,267) |
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(PROVISION FOR) BENEFIT FROM INCOME TAXES |
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(331) |
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903 |
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NET INCOME (LOSS) |
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$ |
850 |
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$ |
(2,364) |
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INCOME (LOSS) PER SHARE |
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$ |
0.93 |
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$ |
(2.59) |
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WEIGHTED AVERAGE SHARES OUTSTANDING |
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917 |
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914 |
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About Scheid Family Wines
Scheid Family Wines, a family-owned and operated wine company for over 50 years, is ranked among the top 25 largest wine producers in
Please visit www.scheidfamilywines.com and www.otcmarkets.com/stock/SVIN/quote for more information.
CONTACT: |
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View original content:https://www.prnewswire.com/news-releases/scheid-family-wines-reports-first-quarter-fiscal-2025-results-302204795.html
SOURCE Scheid Family Wines