Crystal Rock Holdings, Inc. Announces Financial Results for Its First Fiscal Quarter Ended January 31, 2015
Lower Operating Costs Drive Improved Bottom Line Results
(firmenpresse) - WATERTOWN, CT -- (Marketwired) -- 03/17/15 -- Crystal Rock Holdings, Inc. (NYSE MKT: CRVP) announced its financial results for its fiscal quarter that ended January 31, 2015. These results will be filed on Form 10-Q with the Securities and Exchange Commission today.
Total sales for the first quarter of fiscal year 2015 decreased 4% to $17.7 million compared to $18.4 million during the same period in fiscal 2014.
Gross profit decreased for the quarter ended January 31, 2015 to $8.0 million from $8.4 million for the same period a year earlier. Gross profit as a percentage of sales was 45% in both periods.
The net loss for the first quarter of fiscal year 2015 was $427,000 compared to $847,000 for the same period last year. On a per share basis, the net loss was $.02 per fully diluted share in the first quarter of fiscal year 2015, compared to $.04 per fully diluted share in for the same period in fiscal 2014.
Earnings before interest, taxes, depreciation, and amortization (EBITDA) increased to $570,000 in the first quarter of 2015 compared to $272,000 for the same period in 2014.
"We acquired Universal Business in October 2013 anticipating the process of integrating customer bases, support systems, and logistics of our traditional delivery service with online ordering and next day delivery. As a result, we''re in a stronger position to compete and continually adapt to new opportunities to grow our business. The fact that we more than doubled our EBITDA in the first quarter of 2015 is evidence that lower operating costs and a comprehensive distribution model offer a distinct advantage," stated Peter Baker, CEO, Crystal Rock Holdings, Inc. "Increasing top line sales through the growth of our sales force, development of supplier relationships and a comprehensive online marketing strategy remain at the forefront of our business operations. We expect our sales growth -- combined with efficient distribution -- will build shareholder value."
Crystal Rock Holdings, Inc. (NYSE MKT: 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. Launched in 2010, the Crystal Rock Office® brand features traditional office supplies, break room items, furniture and janitorial and sanitation products. 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™", Crystal Rock continues to set high standards in the home and office delivery 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.
*Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA)
EBITDA is included because management believes it is a useful tool for investors to assess the operating performance of the business in comparison to other businesses in the industry. In addition, EBITDA is a measure used to calculate one of the financial covenants for compliance with the Company''s senior debt facility. Management believes that the most directly comparable GAAP financial measure is net income.
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Datum: 17.03.2015 - 15:00 Uhr
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