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Diamond Estates Wines & Spirits Reports Fiscal 2018 Financial Results
Diamond Estates Wines & Spirits Reports Fiscal 2018 Financial Results Diamond ...
About this update from Diamond Estates Wines & Spirits, Inc.
[{"type":"text","content":"\n\n\n\nDiamond Estates Wines & Spirits Reports Fiscal 2018 Financial Results\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prntal{\nTEXT-ALIGN: LEFT\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnsbtb0{\nBORDER-TOP:black 0pt\n}\n.prnvat{\nVERTICAL-ALIGN: TOP\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n\n\n\n\n\n\nDiamond Estates Wines & Spirits Reports Fiscal 2018 Financial Results\nCanada NewsWire\nNIAGARA-ON-THE-LAKE, ON, June 27, 2018\n\n\n\nTransitional year positions the Company for growth\n\n\n\nNIAGARA-ON-THE-LAKE, ON, June 27, 2018 /CNW/ - Diamond Estates Wines & Spirits Inc. (\"Diamond Estates\" or \"the Company\") (DWS-TSX Venture) today announced its financial results for the three and twelve-month periods ended March 31, 2018 (\"Q4 2018\" and \"FY 2018\" respectively). The Company's audited consolidated financial statements and the related Management's Discussion & Analysis (\"MD&A\") for FY 2018 are available on the Company's website at https://www.lakeviewwineco.com/site/investors-diamond-estates-financial-filings and on SEDAR at www.sedar.com. \n\nFY 2018 Highlights:\n\n\nRevenue of $34.3 million was consistent with FY 2017, with a strong increase in export sales offsetting fewer sales of bulk wine and an early year decline in domestic sales driven by the implementation of a short-crop strategy to ensure sufficient supply for the new grocery channel and the export sales;\nGross margin of $15.2 million represented a 9.0% increase from $13.9 million in FY 2017; gross margin percentage in FY 2018 was 44.3% compared with 40.6% in the prior year, the result of improved product mix and reduced programming in the LCBO, and an increase in commission-based sales in the agency division;\nEBITDA1 of $2.5 million was below the FY 2017 level of $2.8 million, due to restructuring charges, severanc...