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Diamond Estates Wines & Spirits Reports Q3 2018 Financial Results
Diamond Estates Wines & Spirits Reports Q3 2018 Financial Results Diamond Esta...
About this update from Diamond Estates Wines & Spirits, Inc.
[{"type":"text","content":"\n\n\n\nDiamond Estates Wines & Spirits Reports Q3 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.prnvab{\nVERTICAL-ALIGN: BOTTOM\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnpr6{\nPADDING-RIGHT:0.50em\n}\n.prnsblb0{\nBORDER-LEFT:black 0pt\n}\n.prnsbt0{\nBORDER-TOP:0pt\n}\n.prnpl6{\nPADDING-LEFT:0.50em\n}\n.prnrbrb0{\nBORDER-RIGHT:black 0pt\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE\n}\n.prnsbl0{\nBORDER-LEFT:0pt\n}\n.prnsbtb0{\nBORDER-BOTTOM:black 0pt\n}\n.prnsbb0{\nBORDER-BOTTOM:0pt\n}\n.prnsbr0{\nBORDER-RIGHT:0pt\n}\n\n\n\n\n\n\nDiamond Estates Wines & Spirits Reports Q3 2018 Financial Results\nCanada NewsWire\nNIAGARA-ON-THE-LAKE, ON, Feb. 23, 2018\n\n\n\nStrong export revenue drives improved winery performance\n\n\n\nNIAGARA-ON-THE-LAKE, ON, Feb. 23, 2018 /CNW/ - Diamond Estates Wines & Spirits Inc. (\"Diamond Estates\" or \"the Company\") (DWS-TSX Venture) today announced its financial results for the three and nine-month periods ended December 31, 2017 (\"Q3 2018\" and \"YTD 2018\" respectively).\n\nQ3 2018 Highlights:\n\n\nRevenue was $10.4 million, an increase of 17.4% from $8.8 million for the three months ended December 31, 2016 (\"Q3 2017\");\nGross margin was $4.8 million, up 40.6% from $3.4 million in Q3 2017, due primarily to revenue growth. Gross margin as a percentage of revenue increased to 46.7% from 39.0% in Q3 2017;\nEBITDA1 was $1.0 million compared to $0.6 million in Q3 2017;\nNet income increased to $0.5 million, up from a slightly positive amount in Q3 2017;\nCash flow from operating activities, before changes in non-cash working capital items, increased 7.8% to $2.6 million in YTD 2018, compared to $2.4 million in the nine months ended December 31, 2016 (\"YTD 2017\");\nWorking capital was $17.0 million as at December 31, 2017, an increase of $8.6 million from $8.4 million as at March 31, 2017; and\nOn November 7, 2017, the Company announced that Christopher Terrio, a seasoned beverage industry executive, was named President of Kirkwood Diamond Canada, the Company's agency division. \n\n\"I'm pleased to say that we delivered im...