Willamette Valley Vineyards reports net profit after tax of $530,630, or 11 cents a share, up from $170,024, or 3 cents a share. Sales for the three months ended March 31, 2020 and 2019 were $6,521,895 and $4,998,786, respectively, an increase of $1,523,109, or 30.5%
The increase in sales through distributors is primarily the result of new product placements and growth in the Company’s brand in the first quarter of 2020 when compared to same quarter of 2019. The increase in sales through direct sales was mostly attributable to an increase in telephone and internet sales and the opening of the Wineworks facility in Folsom, California, during the first quarter of 2020.
Jim Bernau, Founder and President of the winery, said, “We are pleased with the increased revenues and profitability achieved in the first quarter of 2020 when compared to the same quarter of 2019. We believe this has put us in a stronger position as we adapt our business to face the challenges brought about by the COVID-19 pandemic.”