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Willamette Valley Vineyards Q2 profit falls YOY

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Willamette Valley Vineyards Q2 profit falls YOY

Willamette Valley Vineyards Inc. said its normalized net income for the second quarter was 10 cents per share, a decrease from 10 cents per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $496,610, a decline from $501,640 in the year-earlier period.

The normalized profit margin rose to 10.7% from 10.6% in the year-earlier period.

Total revenue decreased year over year to $4.6 million from $4.7 million, and total operating expenses decreased year over year to $3.8 million from $3.9 million.

Reported net income decreased 29.7% year over year to $350,250, or 7 cents per share, from $498,320, or 10 cents per share.