Liquor Group Wholesale Enjoys Another Profitable Year
Jacksonville, Florida – August 31, 2010 – Liquor Group
Wholesale, Inc. (Publicly Traded: LIQR) announced its unaudited results for the
fiscal 2010 year, ending August 31, 2010.
Fiscal year net income is estimated to be $2.2M or $0.20
basic weighted earnings per share before non-cash expenses, more than 300%
greater than last years results. The
Company enjoys all profits through the use of a $25 million net operating tax
loss captured in the merger of August 2007, an asset utilized to offset tax due
on net profits every quarter.
Key Financials:
Key financial highlight estimates for fiscal 2010 include:
- Gross margin of 38.8% (More than 100% increase from FY 2009)
- Net income of 40.2% (More than 100% increase from FY 2009)
- Current liquid ratio of +2.22 (20% increase from FY 2009)
C. J. Eiras, President and CEO commented: “Liquor Group
Wholesale, which now represents approximately 13% of Liquor Group associated
worldwide operations continues to trend upward in scope, territory and
value. We see positive developments in
operations again this year, as evidenced by strong numbers in both overall
sales and companywide performance. Our profitability
again demonstrates that even in a tough economy our operational system
works. Our continued portfolio expansion
of high-margin brands coupled with increased market presence has again led to
positive results for our shareholders.”
Eiras continued “Our core business operations were again
positively impacted by the advantages of our patent-pending business
model. Increasing sales are partly
attributed to new additions to our brand portfolio as well as the expansion of
our sales force and territories, which continued to outpace supplies of
products due to our buying power and leverage.
Some of the leading premium products in the market have begun taking
advantage of our growing operation; and our business model is increasingly
becoming more accepted by the alcohol beverage industry.”
The company made three key strategic acquisitions/mergers
and expansions in Fiscal 2010, including statewide distributor operations in
Illinois, expansion of relationships in South Carolina as well as the purchase
of Broker operations in Iowa. This,
among other planned acquisitions, has a positive impact on shareholder equity
and value.
The Company provides these results to investors so that they
might gain better insight into its underlying business trends from continuing
operations.
About Liquor Group
Wholesale
Liquor Group Wholesale, Inc. (Publicly Traded: LIQR) is an
emerging alcohol distribution/brokerage organization representing thousands of
brands with operations in 33 US States.
Our Manufacturer to State level conveyance utilizes a Patent-Pending
business model focused on providing unique trade channels for many of the
world’s leading & emerging alcohol beverage brands. Current/historical financial information at: www.LiquorGroup.com
and www.SEC.gov
CONTACT: Liquor Group Wholesale
Jason Bandy
904-285-5885
posted by Liquor Group at
2:42 PM
