Beverage Industry logo
search
cart
facebook twitter linkedin youtube
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Beverage Industry logo
  • NEWS
    • R&D News
    • Supplier News
  • PRODUCTS
    • New Products
    • Reader's Choice Poll
  • CATEGORIES
    • Alternative Drinks
    • Beer
    • Bottled Water
    • Cannabis Beverages
    • Carbonated Soft Drinks
    • Energy Drinks & Shots
    • Juice & Juice Drinks
    • Plant-Based Beverages
    • Sports Drinks
    • Tea and Coffee
    • Wine & Spirits
  • R&D
    • Beverage R&D Features
    • Ingredient Spotlight
  • PACKAGING
    • New Packages
    • Packaging Equipment
    • Packaging Material
  • OPERATIONS
    • Distribution
    • Plant Focus
  • TOP LISTS
    • Beer Market Report
    • Executive of the Year
    • State of the Beverage Industry
    • Top 100 Beverage Companies
    • Truck Report
    • Wholesaler of the Year
  • MEDIA
    • eBook
    • Podcast
    • Polls
    • Videos
    • Webinars
  • DIRECTORIES
    • Annual Manual
    • Contract Packaging Guide
    • Take a Tour
  • MORE
    • Classifieds
    • Channel Strategies
    • eNewsletters
    • Events
      • Membrane Technology Forum
    • Interactive Product Spotlights
    • Market Insights
    • Sponsor Insights
    • Store
    • White Papers
  • EMAG
    • eMagazine
    • Archived Issues
    • Advertise
  • SIGN UP!
Beverage NewsWine & Spirits

Scheid Vineyards provides 6-month update

Winery’s 2nd quarter revenue up compared with previous time period

Beverage News
October 15, 2019

Scheid Vineyards Inc., Salinas, Calif., announced its financial results for the six months 2020 fiscal period, which ended Aug. 31.

Revenues for the 2nd quarter of fiscal 2020 increased to $18.7 million, from $16.7 million for the same period in the 2nd quarter of fiscal 2019. Revenues for the period were offset by cost of sales of $15.1 million; sales and marketing expenses of $4.9 million; general and administrative expenses of $4.2 million; and interest expense of $2.4 million. Revenues for the 2nd quarter of Fiscal 2019 were offset by cost of sales of $13.9 million; sales and marketing expenses of $4 million; general and administrative expenses of $5 million; and interest expense of $2.1 million. After adjustments for income taxes, the net loss for 2nd quarter of fiscal 2020 was $5.7 million as compared with $6 million in the 1st quarter of fiscal 2019.

Mike Thomsen, chief financial officer of Scheid Vineyards, stated: "During the second quarter of fiscal 2020, our cased goods sales accelerated from the first quarter. Cased goods revenues for the six months ended Aug. 31, 2019, finished up 21 percent over the same period last fiscal year. On the other hand, bulk wine sales decreased by 35 percent from the previous years' period, as demand for bulk wine continues to be weak throughout the entire wine industry. This has led to a decrease in overall margins.

"In addition, the bulk wine and grape business is seasonal, and a significant portion of grape crop sales revenue comes at the time of the annual harvest in September and October,” he continued. “Contracted bulk wine sales take place primarily in the fourth quarter of each fiscal year. The company continues to expand its sales and marketing divisions resulting in an increase in those costs from the previous year, which were partially offset by a decrease in spending on general and administrative expenses."

Scott Scheid, president and chief executive officer of the company, also provided an update on the 2019 harvest. "Our annual grape harvest began in late August, and it is anticipated that we will complete this years' harvest in early November,” he says. “This timing is normal for wine grape vineyards on the Central Coast of California. We are currently just over two-thirds completed with harvest and yields appear to be trending below average levels for most varieties."

KEYWORDS: California wines financial reports red wine white wine Winery

Share This Story

Looking for a reprint of this article?
From high-res PDFs to custom plaques, order your copy today!

Recommended Content

JOIN TODAY
to unlock your recommendations.

Already have an account? Sign In

  • Chocolate, Strawberry, Vanilla shakes

    Classic flavors provide reliable, consistent results for beverage-makers

    Classic flavors of chocolate, vanilla and strawberry...
    Ingredient Spotlight
    By: Chloe Alverson
  • Free Spirits Instant Bar Bundle

    Lifestyle trends drive growth for non-alcohol category

    As lifestyle trends continue to drive growth for the...
    Wine & Spirits
    By: Lauren Sabetta
  • Younger generation displays unique habits when it comes to beverage consumption

    Generation Z shakes things up in beverage

    Experts share that Gen Z is changing the standard on what...
    Beverage News
    By: Chloe Alverson
Subscribe For Free!
  • eNewsletters
  • Online Registration
  • Subscription Customer Service
  • eMagazine Subscription
  • Manage My Preferences

More Videos

Sponsored Content

Sponsored Content is a special paid section where industry companies provide high quality, objective, non-commercial content around topics of interest to the Beverage Industry audience. All Sponsored Content is supplied by the advertising company and any opinions expressed in this article are those of the author and not necessarily reflect the views of Beverage Industry or its parent company, BNP Media. Interested in participating in our Sponsored Content section? Contact your local rep!

close
  • Fourpeople toasting with cocktails made with low-sugar ingredients, celebrating healthier drink options.
    Sponsored byCargill

    What’s Hot in Sugar Reduction: Beverages

  • chocolate milk
    Sponsored byCargill

    Sweetening the Future for Dairy and Dairy-Alternative Beverages

  • woman pouring a drink
    Sponsored byFFP

    Building a Beverage System: Meeting Consumer Demand for Precision Wellness

Popular Stories

halfday sodas

Beverage-makers turn to fiber, prebiotics and more to support consumer needs

Anheuser-Busch Brewing Futures

Anheuser-Busch announces $300 million investment in US manufacturing

PepsiCo + poppi

PepsiCo completes acquisition of poppi

Vote for your favorite new product

Have your say in what makes it to the top this month!
Vote for your favorite new product and help us celebrate excellence.


VOTE NOW!

Events

April 16, 2025

2025 State of the Industry Series: Alcoholic Beverages

On Demand In Beverage Industry’s annual State of the Industry: The Alcohol Beverage Market, analysts at S&D Insights LLC delve into these trends and how they’re shaping the industry.

June 5, 2025

Heat-Resistant Molds 101: Fundamentals and Prevention Strategies for Better Beverage Quality

Learn about the spoilage challenges and operational bottlenecks that ascospores can pose to your quality program if detection is delayed, or worse – not detected at all. Subject matter experts will cover the basics of these bugs and real-world impacts of insufficient quality methods to help you beat the heat … resistant mold.

View All Submit An Event

Poll

Retail Coffee Segment

What retail coffee segments will fare well into the next year?
View Results Poll Archive

Products

Milk and Dairy Foods Nutrition, Processing and Healthy Aging

Milk and Dairy Foods Nutrition, Processing and Healthy Aging

See More Products

Related Articles

  • Beverage News

    Willamette Valley Vineyards releases quarterly revenue report

    See More
  • Apothic Sparkling Red

    Apothic Sparkling Red

    See More
  • Beverage News

    Vintage Wine Estates acquires Owen Roe wine producer

    See More

Related Products

See More Products
  • nanoinbev.jpg

    Nanoengineering in the Beverage Industry 1st Edition

  • bigfood.jpg

    Big Food: Critical perspectives on the global growth of the food and beverage industry

  • nonmilk.jpg

    Milk-Based Beverages 1st Edition

See More Products
×

Elevate your expertise in the beverage marketplace with unparalleled insights and connections.

Join thousands of beverage professionals today. Shouldn’t you know what they know?

JOIN NOW!
  • RESOURCES
    • Advertise
    • Contact Us
    • Directories
    • Store
    • Want More
  • SIGN UP TODAY
    • Create Account
    • eMagazine
    • eNewsletter
    • Customer Service
    • Manage Preferences
  • SERVICES
    • Marketing Services
    • Reprints
    • Market Research
    • List Rental
    • Survey/Respondent Access
  • STAY CONNECTED
    • LinkedIn
    • Facebook
    • YouTube
    • X (Twitter)
  • PRIVACY
    • PRIVACY POLICY
    • TERMS & CONDITIONS
    • DO NOT SELL MY PERSONAL INFORMATION
    • PRIVACY REQUEST
    • ACCESSIBILITY

Copyright ©2025. All Rights Reserved BNP Media.

Design, CMS, Hosting & Web Development :: ePublishing