WhereDaily News: Diamond Estates Wines and Spirits Inc. Reports Fiscal 2015 Results

NIAGARA-ON-THE-LAKE, ON--(Marketwired - July 08, 2015) - Diamond Estates Wines & Spirits Inc. ("Diamond Estates" or "the Company") (TSX VENTURE: DWS) today announced its fiscal results for the year ending March 31, 2015 (" FY2015").

Sales for FY2015 were $25,730,896 versus $20,668,440 for the fiscal year ended March 31, 2014 ("FY2014"), a 24.5% increase. Gross Profit was up 26.4% to $12,356,340 in FY2015 from $9,777,682 in FY2014. EBITDA improved significantly to $1,581,232 in FY2015 from $654,479 in FY2014 aided by operating expenses that as a percent of revenue declined by 2.2%. The Company generated a net loss in FY2015 of $1,705,953 versus $4,075,413 a year ago. The net loss attributable to Diamond Estates' shareholders was $1,503,920, a year over year improvement of $2,571,493. The loss in FY2015 included restructuring charges of $475,404 attributable to the business combination.

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