WINSTON-SALEM, N.C., March 24, 2011 (GLOBE NEWSWIRE) -- Primo Water Corporation (Nasdaq:PRMW), a rapidly growing provider of three-and five-gallon purified bottled water, self-serve filtered drinking water and water dispensers sold through major retailers throughout the United States and Canada today announced financial results for the fourth quarter and year ended December 31, 2010. Business Highlights
- Fourth quarter net sales increased 61% compared to the prior year period.
- Fourth quarter GAAP EPS of ($0.96) and Non-GAAP EPS of ($0.13) for 2010. GAAP EPS includes non-recurring charges of $8.3 million related to recent IPO and acquisition of Culligan Refill.
- Gross margin increased 730 basis points to 29.6% compared to 22.3% in the fourth quarter of 2009.
- Exchange same-store unit sales increased 5.1% for the fourth quarter of 2010.
- Full year 2010 dispenser sales at retail to consumers increased 14% to over 235,000 units.
- 12,600 combined locations for Exchange and Refill at year end.
- Successful completion of the Culligan Refill acquisition.