Jacksonville, Florida – August 31, 2011 – Liquor Group Wholesale, Inc. (Publicly Traded: LIQR) announced its unaudited results for the fiscal 2011 year, ending August 31, 2011.
Fiscal year net income is estimated to be $1.4M or $0.14 basic weighted earnings per common share before non-cash expenses. The Company enjoys the capture of 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.
Since the operation of LIQR is mainly a fee based service on the wholesale transactions of the company, the total operations of LIQR still only represent approximately 8% of Liquor Group named operations throughout the world.
Key financial highlight estimates for fiscal 2011 include:
- Gross margin of 37.3%
- Net income of 40.5% (An increase from FY 2010)
- Current liquid ratio of +2.02
C. J. Eiras, President and CEO commented: “Liquor Group Wholesale, which now represents approximately 8% of Liquor Group associated worldwide operations continues to move forward in these difficult economic times. We continue to see positive developments in our operations as we refocus our effort; which is evidenced by strong numbers in both overall sales and expanded company-wide dynamic performance. Our profitability demonstrates that year after year, even in this tough economy, our operational system works. Our SLC base has seen an increase in diversified customers, which has allowed them to sell as much or more as years past even with a declining price market. Our continued portfolio expansion of high-margin brands coupled with increased market presence and the creation or acquisition of brokerage and distribution companies throughout the US has again led to positive results for our shareholders.”
Eiras continued “Our core business operations utilize the advantages of our patent-pending business model to the greatest extent possible. Our brand portfolio has greatly expanded in several key areas and our sales force and territories covered continues to increase. Leading premium products in the market have continued to take advantage of our growing operation; and our business model is now accepted by the alcohol beverage industry.”
The company made three key strategic acquisitions/mergers and expansions in Fiscal 2010 and in Fiscal 2011 shareholders have also seen acquisitions and expansions including statewide Broker operations in Montana. This, among other planned acquisitions, has a positive impact on shareholder equity and value and continues to increase the company momentum in the marketplace.
The Company provides these unaudited 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) 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
Disclosure: I am long LIQR.PK.