not sure I am breaking out the numbers correctly and will wait for the quarterly breakdown to verify. looks like they ended up just under $2MM in revenues on the 4Q at $1.918MM and cost of goods at $1.318 which was 66.5% vs. 3Q12 when it was 42%. apparently 65% is a better estimate and 3Q12 might have been a fluke...? my impression was the change in partners at the distiller level would have kept the COG lower. that was a difference in almost $250K to Gross Profit.
SG&A seemed to be up substantially in the 4Q but it isnt broken out by the quarter. i think the option expense was added into the 4Q numbers which would have driven it up and then the added head count drove the SG&A well above Q3. i was hoping to be positive but the net loss was still over $1MM for the quarter. again, need to look at the quarterly numbers broken out to really evaluate.
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