Mr. Thomsen also reported, "Revenues for the period totaled
Mr. Thomsen continued, "The three months ended
Scheid Vineyards Inc. (http://www.scheidvineyards.com) operates
approximately 5,300 acres of premium wine grape vineyards, primarily in
The Class A Common Stock of Scheid Vineyards is traded on the Pink Sheets Electric Quotation Service under the stock symbol SVIN. The "Pink Sheets" is a centralized quotation service that collects and publishes market maker quotes in real time, primarily through its website, http://www.pinksheets.com.
This release contains forward-looking statements as well as historical information. Statements of goals and strategies and words such as "plan", "believe", "anticipate", "expect", "objectives", "forecast", and "predict" and other similar words are intended to identify forward-looking statements. These forward looking statements are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, and involve risks, uncertainties and other factors that may cause the Company's actual results, performance, or financial condition to be materially different from any results, performance, or financial condition suggested by the statements in this release.
SCHEID VINEYARDS INC. AND SUBSIDIARY UNAUDITED CONSOLIDATED STATEMENT OF OPERATIONS THREE MONTHS ENDED MAY 31, 2008 (amounts in thousands, except per share data) REVENUES: Bulk wine sales $ 539 Winery processing and storage revenues 653 Vineyard management, services and other fees 220 Tasting room revenues 132 Total revenues 1,544 COST OF SALES 1,511 GROSS PROFIT 33 General and administrative expenses 1,646 Selling expenses 164 Interest expense, net 878 Market adjustment for interest rate swap (946) LOSS BEFORE BENEFIT FROM INCOME TAXES (1,709) BENEFIT FROM INCOME TAXES 701 NET LOSS $ (1,008) NET LOSS PER SHARE: BASIC $ (1.00) DILUTED $ (1.00) WEIGHTED AVERAGE SHARES OUTSTANDING: BASIC 1,013 DILUTED 1,013
SOURCE Scheid Vineyards Inc.