Truett-Hurst, Inc. Reports Consolidated Earnings Results for the Year Ended June 30, 2018
October 15, 2018 at 03:12 pm EDT
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Truett-Hurst, Inc. reported consolidated earnings results for the year ended June 30, 2018. For the year, the company reported net loss attributable to Truett-Hurst, Inc. of $648,000 or $0.14 per basic and diluted share compared to net loss attributable to Truett-Hurst, Inc. of $51,000 or $0.01 per basic and diluted share reported in the same period last year. Net income from continuing operations was $1,968,000 or $0.44 per basic and diluted share against $1,213,000 or $0.28 per basic and diluted share reported last year. Net loss attributable to Truett-Hurst, Inc. and H.D.D. LLC was $1,081,000 against $204,000 reported last year. Sales were $6,483,000 against $5,972,000 reported last year. Net sales were $6,471,000 against $5,960,000 reported last year. Income from operations was $106,000 against $328,000 reported last year. Income before income tax expense was $1,970,000 against $1,215,000 reported last year. Net cash used in operating activities was $1,255,000 against net cash provided by operating activities of 699,000 reported last year. Acquisition of property and equipment was $1,910,000 against $674,000 reported last year. Acquisition of intangible and other assets was $14,000 against $40,000 reported last year.
Truett-Hurst, Inc. is a holding company for H.D.D. LLC (the LLC). The Company is a producer of luxury wines and operates two wine tasting rooms and leases a winery where wine is produced from many varieties of grapes principally grown or purchased in Sonoma Countyâs Dry Creek Valley and Russian River Valley appellations. The Company has a space for wine production within a custom crush facility located in Santa Rosa, California. The Company operates its direct to consumer (the DTC) business in Healdsburg, California. The DTC channel consists of sales of products produced by the Company through its own tasting rooms, wine clubs and websites. Its wine portfolio offers a range of single vineyards and blends.