This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Castle Brands Announces Fourth Quarter And Fiscal 2013 Results

Castle Brands Inc. (NYSE MKT: ROX), a developer and international marketer of premium and super-premium branded spirits, today reported financial results for the quarter and year ended March 31, 2013.

Operating highlights for the fiscal year ended March 31, 2013:

  • Net sales increased 16.8% to $41.4 million for fiscal 2013, as compared to $35.5 million for the comparable prior-year period.
  • EBITDA, as adjusted, improved by 69.5% to a loss of ($0.7) million, compared to a loss of ($2.4) million for fiscal 2012.
  • Total case sales of beverage alcohol products increased 11.6% to 372,059 cases compared to 333,529 cases in the prior-year period.
  • Strong growth of the Jefferson’s bourbons and rye lead to a 44.7% increase in whiskey revenues from the prior-year period.
  • We purchased $2.5 million of aged bourbon in March 2013 to support the growth of the Jefferson’s brand.
  • Gosling’s Black Seal Rum exceeded 100,000 cases sold in the U.S.
  • General and Administrative decreased in fiscal 2013 and represented 11.7% of Sales, down from 14.0% in fiscal 2012.

“We are proud of the strong growth of our core brands, driven by our experienced sales force and effective marketing programs. These sales increases were achieved without corresponding increases to general and administrative expenses. This ability to scale our business led to stronger bottom line performance, with a 69.5% improvement in our EBITDA, as adjusted. We expect this trend to continue in the current fiscal year,” stated Richard J. Lampen, President and Chief Executive Officer of Castle Brands.

“Gosling’s volume exceeded 100,000 cases in the US, an important milestone that reflects the strength of the brand and the growing popularity of the trademarked Dark ‘n Stormy cocktail. Sales of our Stormy Ginger Beer in the US increased 59% to 248,309 cases. Jefferson’s bourbons and rye whiskies also delivered very strong growth performance. We are particularly pleased to have secured $2.5 million of aged bourbon to support continued growth of the Jefferson’s brand,” stated John Glover, Chief Operating Officer of Castle Brands.

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

DOW 18,232.02 -53.72 -0.29%
S&P 500 2,126.06 -4.76 -0.22%
NASDAQ 5,089.3620 -1.4320 -0.03%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs