Total sales for the three months ending 31 January 2009 decreased 5% to $15.6m from $16.4m for the comparable period a year ago. Gross margin also decreased 11% for the first quarter of 2009 to $8.1m from $9.1m 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 31 January 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, CEO 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’ve 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’re also analysing how we do business in order to capitalise on new opportunities to expand our customer base.”
Source: Vermont Pure Holdings
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