Willamette Valley Vineyards Q2 net income increases

Tue. August 18, 2009; Posted: 08:53 AM

Aug 18, 2009 (Datamonitor via COMTEX) -- WVVI | Quote | Chart | News | PowerRating -- US-based Willamette Valley Vineyards has reported net income of $253,784 or $0.05 diluted earnings per share, for the second quarter ended June 30, 2009 compared to $157,527 or $0.03 diluted earnings per share for the same period of 2008.

Total net revenues for the three-month period ended June 30, 2009 were $4.05 million, compared to $3.88 million in the corresponding period of 2008.

For the six-month period ended June 30, 2009, the company's net income increased to $418,940 or $0.09 diluted earnings per share, compared to $217,625 or $0.04 diluted earnings per share for the same period of 2008.

Total net revenues for the six-month period ended June 30, 2009 were $7.69 million versus $7.29 million in the same period of 2008.

Jim Bernau, founder and CEO of Willamette Valley Vineyards, said: "Higher sales nationally, better inventory control and lower independent auditor costs are the primary reasons for the dramatic improvement. Even in a down economy, consumers are willing to pay for Oregon quality. We are lucky to be winemakers in such a remarkable valley with ideal growing conditions."

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