|By Marketwired .||
|June 23, 2014 06:05 PM EDT||
NIAGARA-ON-THE-LAKE, ONTARIO -- (Marketwired) -- 06/23/14 -- Diamond Estates Wines & Spirits Inc. ("Diamond Estates" or "the Company") (TSX VENTURE:DWS) today announced its results for the fiscal year ending March 31, 2014 ("FY2014").
Sales for FY2014 were $20,587,964 compared to $23,398,883 for the fiscal year ended March 31, 2013 ("FY2013"), representing a decline of 12.0%%. Gross margin for FY2014 was 47.4% compared to 48.1% for FY2013. Total operating expenses for FY2014 were $9,107,758 versus $8,974,028 for FY2013, a change of $133,730. Loss before certain non-cash and one-time costs for FY2014 was $2,769,694 compared to $2,011,841 for FY2013. Net loss and comprehensive loss for FY2014 was $4,075,413 versus $2,438,716, resulting in loss per share of $0.09 in FY2014 versus $0.17 for FY2013.
The sales decrease was primarily due to the flow through effect of agency agreements terminated in fiscal 2013 for third party wines and spirits. Manufactured wines saw some softness in the LCBO channel offset by growth in retail at the wineries, licensee and export sales channels which continue to perform well.
"At Diamond Estates, we are focussed on executing to our long-term business strategy," stated J. Murray Souter, President & CEO of Diamond Estates Wines & Spirits Inc. "The organization continues to evolve and is well positioned to accelerate growth in our key business segments and brands over the coming months. We anticipate significantly improving the company's competitive position and profitability in fiscal 2015, which is why we just hired a full-time operational CFO based in Niagara."
On September 24, 2013, the Company became a publicly traded stock through the reverse take-over ("RTO") of Whiteknight Acquisitions II Inc., a Capital Pool Company listed on the TSX Venture Exchange. Coincident with this transaction, the Company also raised an additional $8,351,000 in equity and renegotiated its credit facilities to significantly improve its working capital position by over $17,000,000, net of restructuring, finance and share issue costs totalling $1,246,000 incurred in the period. This increase in working capital will assist the achievement of the Company's long-term goals and will help create a platform for the future growth of the business.
About Diamond Estates Wines and Spirits Inc.
Diamond Estates Wines and Spirits Inc. is a producer, marketer and distributor of wines and spirits in Canada. The company operates two wineries in the Niagara region of Ontario producing VQA and blended wines under such well-known brand names as 20 Bees, EastDell, Lakeview, Dois Amigos, Hat Trick, Dan Aykroyd, Benchmark and Seasons. The company also imports fine wines and spirits from around the world and serves as the marketing and sales agent for these brands in all regions of the country. These brands include Fat Bastard wines from France, Fireball Whiskey Shooter from Canada, Hpnotiq Liqueur from France, Anciano wines from Spain, Francois Lurton wines from France and Argentina and a number of top bourbons. For further information on the company, please visit the company's SEDAR profile at www.sedar.com.
This news release may contain forward-looking statements that are based on the Company's expectations, estimates and projections regarding its business and the economic environment in which it operates. These statements are not guarantees of future performance and involve risks and uncertainties that are difficult to control or predict. Therefore, actual outcomes and results may differ materially from those expressed in these forward-looking statements and readers should not place undue reliance on such statements. Statements speak only as of the date on which they are made, and the Company undertakes no obligation to update them publicly to reflect new information or the occurrence of future events or circumstances, unless otherwise required to do so by law.
Diamond Estates Wines & Spirits Inc. common shares trade on the TSX Venture Exchange (symbol DWS).
SYS-CON Events has announced today that Roger Strukhoff has been named conference chair of Cloud Expo and @ThingsExpo 2016 Silicon Valley. The 19th Cloud Expo and 6th @ThingsExpo will take place on November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. "The Internet of Things brings trillions of dollars of opportunity to developers and enterprise IT, no matter how you measure it," stated Roger Strukhoff. "More importantly, it leverages the power of devices and the Interne...
Jul. 24, 2016 04:45 AM EDT Reads: 1,966
"There's a growing demand from users for things to be faster. When you think about all the transactions or interactions users will have with your product and everything that is between those transactions and interactions - what drives us at Catchpoint Systems is the idea to measure that and to analyze it," explained Leo Vasiliou, Director of Web Performance Engineering at Catchpoint Systems, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York Ci...
Jul. 24, 2016 04:45 AM EDT Reads: 1,858
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
Jul. 24, 2016 04:30 AM EDT Reads: 1,458
Predictive analytics tools monitor, report, and troubleshoot in order to make proactive decisions about the health, performance, and utilization of storage. Most enterprises combine cloud and on-premise storage, resulting in blended environments of physical, virtual, cloud, and other platforms, which justifies more sophisticated storage analytics. In his session at 18th Cloud Expo, Peter McCallum, Vice President of Datacenter Solutions at FalconStor, discussed using predictive analytics to mon...
Jul. 24, 2016 04:30 AM EDT Reads: 1,916
Most organizations prioritize data security only after their data has already been compromised. Proactive prevention is important, but how can you accomplish that on a small budget? Learn how the cloud, combined with a defense and in-depth approach, creates efficiencies by transferring and assigning risk. Security requires a multi-defense approach, and an in-house team may only be able to cherry pick from the essential components. In his session at 19th Cloud Expo, Vlad Friedman, CEO/Founder o...
Jul. 24, 2016 04:00 AM EDT Reads: 1,796
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 03:45 AM EDT Reads: 1,128
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Jul. 24, 2016 02:45 AM EDT Reads: 874
As organizations shift towards IT-as-a-service models, the need for managing and protecting data residing across physical, virtual, and now cloud environments grows with it. Commvault can ensure protection, access and E-Discovery of your data – whether in a private cloud, a Service Provider delivered public cloud, or a hybrid cloud environment – across the heterogeneous enterprise. In his general session at 18th Cloud Expo, Randy De Meno, Chief Technologist - Windows Products and Microsoft Part...
Jul. 24, 2016 02:00 AM EDT Reads: 1,811
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
Jul. 24, 2016 01:30 AM EDT Reads: 1,121
SYS-CON Events announced today that MangoApps will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device.
Jul. 24, 2016 01:15 AM EDT Reads: 1,214
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
Jul. 24, 2016 01:15 AM EDT Reads: 867
“We're a global managed hosting provider. Our core customer set is a U.S.-based customer that is looking to go global,” explained Adam Rogers, Managing Director at ANEXIA, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 24, 2016 12:30 AM EDT Reads: 1,553
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Jul. 23, 2016 11:45 PM EDT Reads: 1,212
DevOps at Cloud Expo – being held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real results. Am...
Jul. 23, 2016 11:30 PM EDT Reads: 2,109
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
Jul. 23, 2016 11:30 PM EDT Reads: 836