Russell Breweries, a producer of premium craft beer, releases its financial results for the first quarter of Fiscal 2015, ended 30 September 2014.
The company is $25,748 EBITDA positive for Q1 of fiscal 2015 ("Q1 2015F") compared to EBITDA positive of $239,195 for Q1 of fiscal 2014 ("Q1 2014F").
Q1 Fiscal 2015 Highlights
Gross revenue for Q1 2015F were $2,475,006 down $2,281 or 0% compared to $2,477,287 for Q1 2014F. Net sales for Q1 2015F were $2,002,642 up $62,172 or 3% compared to $1,940,470 for Q1 2014F.
The gross margin for Q1 2015F decreased by $179,128 or 15% to $979,400 compared to $1,158,528 for Q1 2014F. The gross margin percentage of Q1 2015F was down 11% to 49% compared to 60% for Q1 2014F. The decrease in gross margin percentage is mainly due to increase in the cost of packaging materials from the shift to higher percentage of revenue in packaged beers compared to draft beers, increased in labour cost due to salary increase and bonus, higher depreciation cost from new equipment and production loss from the research and development of new brew flavours.
Selling, general and administration expenses for Q1 2015F were at $1,048,671 up $53,593 or 5% compared to $995,078 for Q1 2014F.
The Company had a net loss and comprehensive loss of $131,022 for the period ended September 30, 2014 ("Q1 2015F") compared to net income and comprehensive income of $93,734 for the period ended September 30, 2013 ("Q1 2014F").
