Russell Breweries Inc. announced financial results for the second quarter ended December 31, 2016. For the quarter, the company reported a net income and comprehensive income of $2,557,365 compared to a net income and comprehensive income of $38,712 for the second quarter of fiscal 2016. The increase in net income and comprehensive income is primarily due to the $3,350,803 gain realized with the Fort Garry Sale and the Russell Sale that completed during the period, offset by the decrease in gross margin of $742,557. Net revenue for the second quarter of 2017 was $1,234,728, down $921,252 or 43% compared to $2,155,980 for the second quarter of 2016 due to lower sales. The decrease in net revenue was primarily the result of a shortened quarter with less selling days before the Fort Garry Sale and the Russell Sale were completed, increased competition, and the impact of asset sale transaction closing activities to normal operations.