Overview

• Oregon Pinot Noir producer's Q1 sales rose 9.5% yr/yr, driven by distributor case sales

• Net loss for Q1 narrowed 22.5% from prior year, reflecting higher distributor sales

• Company cites focus on national distribution and recent management changes for improved results

Outlook

• Company did not provide specific guidance or outlook for future quarters or full year

Result Drivers

• DISTRIBUTOR SALES - Higher case sales to distributors drove revenue and gross profit growth

• DIRECT-TO-CONSUMER DECLINE - Lower wine club and internet revenues led to a decrease in direct sales to consumers

Company press release: ID:nPnbT3k7Ka

Key Details

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