WATERTOWN, CT--(Marketwired - Sep 16, 2013) - Crystal Rock Holdings, Inc. (
"Although our sales and general economic conditions remain flat, we are encouraged by reduction in operating expenses and growth of our net income," stated Peter Baker, President & CEO, Crystal Rock Holdings. "The result of our sales and operational efficiencies is a positive step as we support rapidly changing customer behaviors and confront ongoing competitive challenges in a mature, price-driven market. We remain committed to the long term goal of reshaping the business to support a more dynamic customer experience."
Crystal Rock Holdings, Inc. (
CRYSTAL ROCK HOLDINGS, INC. | ||||||||||||
Results of Operations | ||||||||||||
(Unaudited) | (Unaudited) | |||||||||||
Nine Months Ended: | Three Months Ended: | |||||||||||
July 31, | July 31, | July 31, | July 31, | |||||||||
2013 | 2012 | 2013 | 2012 | |||||||||
(000's $) | ||||||||||||
Sales | $ | 52,742 | $ | 53,258 | $ | 18,352 | $ | 18,463 | ||||
Income from operations | $ | 2,041 | $ | 2,684 | $ | 1,870 | $ | 1,525 | ||||
Net Income | $ | 327 | $ | 635 | $ | 884 | $ | 595 | ||||
Basic net earnings per share | $ | 0.02 | $ | 0.03 | $ | 0.04 | $ | 0.03 | ||||
Diluted net earnings per share | $ | 0.02 | $ | 0.03 | $ | 0.04 | $ | 0.03 | ||||
Basic Wgt. Avg. Shares Out. (000's) | 21,374 | 21,388 | 21,368 | 21,386 | ||||||||
Diluted Wgt Avg. Shares Out. (000's) | 21,374 | 21,388 | 21,368 | 21,386 | ||||||||
Note: This press release contains a forward-looking statement about executing a sales growth plan and increasing efficiency in logistics with respect to serving our customers. The following important factors could cause actual results to differ materially from those in the forward-looking statement: Increasing sales and accomplishing operating efficiencies requires a significant investment of money and management time and requires us to develop systems, such as online ordering and automated planning systems, to an extent we have not done previously. There is no assurance we can succeed in achieving either greater sales or efficiency. We have many competitors, and some are bigger and better capitalized than we are. To the extent that we try to grow business by acquisitions, we may experience difficulties integrating the acquired businesses or assets, or we may fail to realize synergistic savings that we had hoped to realize. Even if we establish a new product channel, it may not be profitable. In our Form 10-K Annual Report for the Fiscal Year ended October 31, 2012, the reader is directed to the section entitled "Products" and the discussion related to our Office Products line as well as the "Risk Factors" section where there is more information about this and other topics.
Contact Information:
Contacts:
Peter Baker
CEO
860-945-0661 Ext. 3001
Bruce MacDonald
CFO
802-658-9112 Ext.15