Crystal Rock Holdings, Inc. Announces Financial Results for Its Fiscal Year Ended October 31, 2011
(firmenpresse) - WATERTOWN, CT -- (Marketwire) -- 01/27/12 -- Crystal Rock Holdings, Inc. (NYSE Amex: CRVP) announced its financial results for its fiscal year that ended October 31, 2011. These results will be filed on Form 10-K with the Securities and Exchange Commission today.
Total sales for fiscal 2011 increased $3.8 million, or 6%, to $71.6 million from $67.8 million for fiscal 2010. Excluding the sales increases that were due to acquisitions, sales increased 4% in fiscal year 2011 compared to the same period in 2010. Gross profit increased $259,000, or 1%, for the year ended October 31, 2011 to $37.2 million from $37 million in the year earlier. Gross profit as a percentage of sales decreased to 52% in 2011 from 55% in 2010.
Operating income in fiscal 2011 was $4.5 million, a $1.6 million decrease from fiscal 2010. Other income benefited in fiscal 2010 from a one-time increase in non-operating income of $3.5 million which did not recur in 2011. Total pre-tax income in fiscal 2011 was $2.3 million compared to $7.2 million in fiscal 2010.
Net income for the most recent fiscal year decreased to $1.5 million from $4.3 million in the previous fiscal year. Consequently, earnings per share decreased to $.07 per share in 2011 from $.20 per share in 2010.
"2011 has been a year of transformation for us. While we increased sales through expansion and acquisition, our margins decreased due to higher commodity costs and the change in our product mix and administrative expenses increased," said Peter Baker, C.E.O. of Crystal Rock Holdings, Inc. "We have been focused on a plan to invest in a personnel and information technology infrastructure to support our broad range of products and to deliver a premiere customer experience. We expect this to result in future sales growth and, although the incremental sales will yield a lower margin, increased profitability. We expect this transformation to continue into 2012," he concluded.
Crystal Rock Holdings, Inc. (NYSE Amex: CRVP), operating through its subsidiary Crystal Rock LLC, markets and distributes water, coffee, office supplies and other home and office refreshment products throughout the Northeast. The company is the largest independent home and office distributor of its kind in the United States. It bottles and distributes natural spring water under the Vermont Pure® brand, purified water with minerals added under the Crystal Rock® Waters label and roasts and packages coffee under its Cool Beans® brand. The majority of its sales are derived from a route distribution system that delivers water in 3- to 5-gallon reusable, recyclable bottles, and coffee in fractional packs or pods. With a new identity and the tagline, "Little Things Matter(SM)", Crystal Rock continues to set high standards in the home and office refreshment industry through technical innovation, a commitment to the environment, and the integration of its family roots into relationships with employees and customers. More information is available at crystalrock.com.
Peter Baker
CEO
860-945-0661 Ext. 3001
Bruce MacDonald
CFO
802-658-9112 Ext.15
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 27.01.2012 - 21:01 Uhr
Sprache: Deutsch
News-ID 108633
Anzahl Zeichen: 0
contact information:
Town:
WATERTOWN, CT
Kategorie:
Beverages
Diese Pressemitteilung wurde bisher 336 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Crystal Rock Holdings, Inc. Announces Financial Results for Its Fiscal Year Ended October 31, 2011"
steht unter der journalistisch-redaktionellen Verantwortung von
Crystal Rock Holdings, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
