Vermont Pure Holdings, Ltd. Announces Financial Results for its First Fiscal Quarter Ending January 31, 2009
March 17 2009 - 9:00AM
PR Newswire (US)
WATERTOWN, Conn., March 17 /PRNewswire-FirstCall/ -- Vermont Pure
Holdings, Ltd. (AMEX:VPS) announced its financial results for the
first quarter of its fiscal year 2009 and that it will file these
results on Form 10-Q with the Securities and Exchange Commission
today. Total sales for the three months ending January 31, 2009
decreased 5% to $15.6 million from $16.4 million for the comparable
period a year ago. Gross margin also decreased 11% for the first
quarter of 2009 to $8.1 million from $9.1 million in the comparable
period a year earlier. Gross margin, as a percentage of sales,
decreased to 52% in the first quarter of 2009 from 56% for the
first quarter a year ago. Net income decreased to $95,000 for the
three months ended January 31, 2009 compared to $512,000 for the
comparable period last year. "Economic conditions in our
marketplace have presented us with a challenging business
environment in 2009," said Peter Baker, C.E.O. of Vermont Pure
Holdings, Ltd. "The economy has created an even more competitive
environment not only resulting in lower sales but lower margins. In
response, we have continued to lower our operating costs and
increase the efficiency of our operations. Since some of the
current changes in our market may not be cyclical, we are also
analyzing how we do business in order to capitalize on new
opportunities to expand our customer base," Baker concluded.
Vermont Pure Holdings, Ltd. (AMEX:VPS), the largest independent
home and office distributor of its kind in the United States,
markets water, coffee and other home and office refreshment
products throughout the Northeast through its subsidiary Crystal
Rock LLC. The Company bottles and distributes natural spring water
under the Vermont Pure(R) brand and purified water with minerals
added under the Crystal Rock(R) label. The majority of its sales
are derived from a route distribution system that delivers water in
3- to 5-gallon reusable and recyclable bottles. The Company
continues to set high standards in the bottled water industry
through its technical innovation, commitment to the environment and
by integrating its family roots into relationships with employees
and customers. More information is available at
http://www.crystalrock.com/. VERMONT PURE HOLDINGS, LTD Results of
Operations (Unaudited) Three Months Ended: January 31, January 31,
2009 2008 (000's $) Sales $15,552 $16,385 Income from operations
$833 $1,546 Net Income $95 $512 Basic net earnings per share $0.00
$0.02 Diluted net earnings per share $0.00 $0.02 Basic Wgt. Avg.
Shares Out. (000's) 21,503 21,614 Diluted Wgt. Avg. Shares Out.
(000's) 21,503 21,614 Note: This press release contains forward
looking statements that involve a number of risks and uncertainties
that could cause actual results to differ materially from those
indicated by such forward looking statements, including integration
of acquisitions, ability to sustain and manage growth, changing
market conditions, and other risks detailed in the company's
filings with the Securities and Exchange Commission. DATASOURCE:
Vermont Pure Holdings, Ltd. CONTACT: Peter Baker, CEO,
+1-860-945-0661 Ext. 3001; or Bruce MacDonald, CFO,
+1-802-860-1126, both of Vermont Pure Holdings, Ltd. Web Site:
http://www.crystalrock.com/
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