Castle Brands Inc., a New York City-based developer and international marketer of premium and super-premium branded spirits, reported financial results for the three- and nine-month periods ending Dec. 31, 2013.
Net sales for the company increased 28 percent in the quarter to $13.6 million, compared with $10.6 million in the prior-year period. Loss from operations was $100,000 in the third quarter of fiscal year 2014, which marked an improvement of 75 percent from a loss of $400,000 in the prior-year period. The company also recorded positive quarterly earnings before interest, taxes, depreciation and amortization (EBITDA), as adjusted, with a gain of $200,000, compared with a loss of $100,000 last year.