Willamette Valley Vineyards Inc. reports a net loss in the first quarter of $98,942 on sales of $6.2 million. The company attributed the loss to “unforeseen inventory delays” and said it expects supply interruptions, higher supply costs and labor shortages to reduce margins and earnings in the near term,” but added “our growth initiatives are designed to produce greater profitability in the long term.”
Sales revenue for the three months ended March 31 was $6,242,318, up 8.3% from the year-earlier $5,765,338. An increase in revenues from direct sales of $651,124 was partially offset by a decrease in revenue from shipments to distributors of $174,144 from the like three-month a year earlier. The increase in direct sales to consumers was primarily the result of increased retail sales revenues from Willamette’s tasting rooms, wine club and kitchen. The decrease in revenue from the distributors was primarily attributed to the lack of available inventory to ship.