WATERTOWN, Conn., Sept. 15 /PRNewswire-FirstCall/ -- Vermont Pure
Holdings, Ltd. (Amex: VPS) announced its financial results for the third
quarter and first nine months of its fiscal year 2008 and that it will file
these results on Form 10-Q with the Securities and Exchange Commission today.
Total sales for the nine months ending July 31, 2008 increased 8% to $51.8
million from $48.1 million for the comparable period a year ago. Gross margin
also increased 8% for the first nine months of 2008 to $29.3 million from
$27.2 million in the comparable period a year earlier. Gross margin, as a
percentage of sales, of 57% was unchanged from year to year. Net income
increased to $2 million, or $.09 per share, for the nine month period in 2008
compared to $1.3 million, or $.06 per share, a year ago.
Sales for the third fiscal quarter increased 5% to $18 million from $17.1
million in the same period a year ago. Gross margin increased 4% to $10.3
million in the third quarter of 2008 from $9.9 million in the third quarter of
2007. Gross margin, as a percentage of sales decreased to 57% from 58% in the
respective periods. Net income improved to $1 million, or $.05 per share, in
the third quarter of 2008 compared to $577,000, or $.03 per share, in the
third quarter of 2007.
'We are pleased that increased sales continue to translate into improved
profitability,' said Peter Baker, C.E.O. of Vermont Pure Holdings, Ltd. 'In
light of the current economic conditions in the Northeastern United States we
continue to take steps to aggressively promote our products through direct
marketing and control our energy and raw material costs. We were excited to
have had Governor Rell on hand at our Watertown facility last month to unveil
our new solar electricity generation system. This system is a terrific example
of our commitment to a dual bottom line -- energy cost effectiveness and
environmental concerns,' Baker concluded.
Vermont Pure Holdings, Ltd.
