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Willamette Valley Vineyards Q3 profit climbs 35.8% YOY

Willamette Valley Vineyards Inc. said its normalized net income for the third quarter came to 12 cents per share, a gain of 36.1% from 9 cents per share in the year-earlier period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $600,850, an increase of 35.8% from $442,370 in the prior-year period.

The normalized profit margin rose to 12.7% from 10.4% in the year-earlier period.

Total revenue grew 11.7% year over year to $4.7 million from $4.2 million, and total operating expenses grew 7.1% from the prior-year period to $3.7 million from $3.5 million.

Reported net income totaled $449,860, or 9 cents per share, compared to $450,710, or 9 cents per share, in the year-earlier period.