Mick, Chap, and all...
Regarding ROX....I got this from another board I frequent:
some info from the filings to give an idea what the company is all about...the recent filings clearly show why the PPS dropped and imo why it will rebound in the near term.
Castle Brands is an emerging developer and international marketer of premium branded spirits within four growing categories of the spirits industry: vodka, rum, whiskey and liqueurs. Castle Brands’ portfolio includes Boru ® Vodka, Gosling’s Rum ® , Sea Wynde ® Rum, Knappogue Castle Whiskey ® , Clontarf ® Irish Whiskey, Jefferson’s™ and Jefferson’s Reserve ® Bourbon, Sam Houston ® Bourbon, Celtic Crossing ® Liqueur, Pallini ® Limoncello™, Raspicello™ and Peachcello™ and Brady’s ® Irish Cream
NEW YORK, NY, February 13, 2008. Castle Brands Inc. (AMEX:ROX), an emerging international importer and marketer of premium spirits, today reported financial results for its third quarter fiscal 2008 ended December 31, 2007.
U.S. case sales decreased 5% year over year to 46,427 nine liter cases in the third quarter of fiscal 2008, primarily reflecting a shift in the timing of certain purchases when compared to the prior year quarter.
International case sales declined 46% in the quarter to 23,107 cases. This decline reflects a combination of factors, the most significant of which results from a change in distributors in our largest international market, the Republic of Ireland. As a result of the decreases in both our domestic and international markets, global case sales in the third quarter were down 24% to 69,534 nine liter cases.
Donald L. Marsh, Castle Brands’ President and Chief Operating Officer, commented, “Despite the lower case sales in the quarter, our business remains robust and we are pleased with the continued progress made during the third quarter. We delivered strong growth in several of our key brands. Perhaps the best indicator of the health of our business, overall U.S. reported depletions (sales from our distributors to their customers) were up 35% for the third quarter. We feel that this bodes well for our case sales in future periods. As to sales in Ireland, we are now with a significantly larger distributor. Once they get up to speed, we expect to see an improvement in sales.” Mr. Marsh continued, “Given the fact that Castle Brands is still a relatively small company, short term volatility is expected, as the timing of certain purchases by our customers will have an amplified effect on our quarterly volumes.”
Mr. Marsh further commented, “We remain focused on several initiatives that we have underway to drive revenue growth in both the U.S. and Europe. We continue to place further emphasis on Gosling’s marketing, have been increasing on-premise distribution of Pallini Limoncello and continue to explore additions to our portfolio. Additionally, we plan to place an increased focus on adding agency brands.”
__________________
