Willamette Valley Vineyards releases quarterly revenue report
Wine company experiencing declines
Willamette Valley Vineyards, Salem, Ore., generated income applicable to common shareholders of $103,459, or $0.02 cents a share, for the second quarter of 2019, which was down from $546,817, or $0.11 cents a share, for the corresponding prior-year period, representing a $443,358 or 81.1 percent decrease in income applicable to common shareholders compared with second quarter 2018, according to the company.
The company produced revenues of $5.7 million and $5.8 million in the second quarters of 2019 and 2018, respectively, a decrease of $30,455 or 0.5 percent. This decrease was caused by an increase in direct sales of $5,957 and a decrease in sales through distributors of $36,412. The decrease in sales through distributors primarily was the result of the company’s Oregon and Washington state distributor experiencing problems in their new order/delivery systems. This resulted in a significant reduction in Oregon and Washington sales and deliveries during the second quarter 2019, it reports.