Willamette Valley Vineyards earned $183,297, or 4 cents a share, in the first quarter, down from $408,995, or 8 cents a share, for the like prior-year period. That’s a 55.2% decrease in profit, and that company attributed the decline to a bulk wine inventory write down of $75,918 in first quarter 2017.
Sales rose 6.4% to $4,450,545. The primary reasons for this increase are an increase in direct sales of $87,644 and an increase in sales through distributors of $179,132 in the 2017 first quarter.
Jim Bernau, founder and president, said “We are continuing to implement our strategic plan by making the necessary financial, vineyard, winemaking and staffing investments to sustainably engage wine enthusiasts and provide them world class wines and winery experiences.”