Total sales for the first six months of fiscal year 2009 decreased 4% to $32.3m from $33.8m for the comparable period a year ago. Gross profit decreased 11% in the first half of 2009 to $17m from $19m in the comparable period a year earlier. Gross profit as a percentage of sales decreased to 52% from 56% for the respective periods. Net income decreased to $327,000 in the first six months of fiscal year 2009 compared to $983,000 in the first six months of fiscal year 2008.
Total sales for the three months ending 30 April 2009 decreased 4% to $16.8m from $17.4m for the comparable period a year ago. Gross profit decreased 10% for the second quarter of 2009 to $8.8m from $9.8m in the comparable period a year earlier. Gross profit as a percentage of sales decreased to 53% in the second quarter of 2009 from 56% for the second quarter a year ago. Net income decreased for the three months ended 30 April 2009 from $232,000 compared to $471,000 for the comparable period last year.
“Although our business has been negatively affected by the recessionary economic environment, we remain profitable despite experiencing lower margins in the first half of the year for most of our product lines,” said Peter Baker, CEO Vermont Pure Holdings Ltd. “We expect to be able to take advantage of new opportunities that our distribution base presents in future quarters, including fully integrating the Blue Hills Spring Water Company acquisition into our Boston market operations. However, we expect fiscal 2009 to be less profitable than fiscal 2008.”
Blue Hills is better known by its popular brand Monadnock Mountain Spring Water.
Source: Vermont Pure Holdings
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