Truett-Hurst, Inc. Reports Unaudited Consolidated Financial Results for the Second Quarter and Half Year Ended December 31, 2016
February 08, 2017 at 06:00 am EST
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Truett-Hurst, Inc. reported unaudited consolidated financial results for the second quarter and half year ended December 31, 2016. For the quarter, the company’s net sales were USD 5,737,000 against USD 8,506,000 a year ago. Loss from operations was USD 75,000 against income from operations of USD 537,000 a year ago. Net loss before income taxes was USD 70,000 against income before income taxes of USD 476,000 a year ago. Net loss attributable to the company was USD 46,000 or USD 0.01 per diluted share against net income attributable to the company of USD 235,000 or USD 0.03 per diluted share a year ago. Net loss from continuing operations was USD 71,000 against net income from continuing operations of USD 475,000 a year ago.
For the half year, the company’s net sales were USD 11,622,000 against USD 14,875,000 a year ago. Loss from operations was USD 299,000 against income from operations of USD 359,000 a year ago. Net income before income taxes was USD 484,000 against USD 121,000 a year ago. Net income attributable to the company was USD 270,000 or USD 0.04 per diluted share against net income attributable to the company of USD 21,000 or USD 0.00 per diluted share a year ago. Net cash provided by operating activities was USD 1,712,000 against USD 2,400,000 a year ago. Acquisition of property and equipment was USD 371,000 against USD 368,000 a year ago. Acquisition of intangible and other assets was USD 18,000 against USD 53,000 a year ago. Net income from continuing operations was USD 482,000 against USD 120,000 a year ago.
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.
TRUETT-HURST, INC. 
