updated 10/4/2010 2:45:13 AM ET 2010-10-04T06:45:13

JACKSONVILLE, Fla., Oct. 1, 2010 (GLOBE NEWSWIRE) -- Liquor Group Wholesale, Inc. (Pink Sheets:LIQR) announced its unaudited results for the fiscal 2010 year, ending August 31, 2010.

Fiscal year net income is estimated to be $2.2M or $0.20 basic weighted earnings per share before non-cash expenses, more than 300% greater than last years results. The Company enjoys all profits through the use of a $25 million net operating tax loss captured in the merger of August 2007, an asset utilized to offset tax due on net profits every quarter.

Key Financials:

Key financial highlight estimates for fiscal 2010 include:

  • Gross margin of 38.8% (More than 100% increase from FY 2009)
  • Net income of 40.2% (More than 100% increase from FY 2009)
  • Current liquid ratio of +2.22 (20% increase from FY 2009)

C. J. Eiras, President and CEO commented: "Liquor Group Wholesale, which now represents approximately 13% of Liquor Group associated worldwide operations continues to trend upward in scope, territory and value. We see positive developments in operations again this year, as evidenced by strong numbers in both overall sales and companywide performance. Our profitability again demonstrates that even in a tough economy our operational system works. Our continued portfolio expansion of high-margin brands coupled with increased market presence has again led to positive results for our shareholders."

Eiras continued, "Our core business operations were again positively impacted by the advantages of our patent-pending business model. Increasing sales are partly attributed to new additions to our brand portfolio as well as the expansion of our sales force and territories, which continued to outpace supplies of products due to our buying power and leverage. Some of the leading premium products in the market have begun taking advantage of our growing operation; and our business model is increasingly becoming more accepted by the alcohol beverage industry." 

The company made three key strategic acquisitions/mergers and expansions in Fiscal 2010, including statewide distributor operations in Illinois, expansion of relationships in South Carolina as well as the purchase of Broker operations in Iowa. This, among other planned acquisitions, has a positive impact on shareholder equity and value.  

The Company provides these results to investors so that they might gain better insight into its underlying business trends from continuing operations.

About Liquor Group Wholesale

Liquor Group Wholesale, Inc. (Pink Sheets:LIQR) is an emerging alcohol distribution/brokerage organization representing thousands of brands with operations in 33 US States. Our Manufacturer to State level conveyance utilizes a Patent-Pending business model focused on providing unique trade channels for many of the world's leading & emerging alcohol beverage brands. Current/historical financial information at: www.LiquorGroup.com and www.SEC.gov

The Liquor Group Wholesale Fiscal Year End Financial Statement 8-31-2010 is available at http://media.globenewswire.com/cache/10916/file/8877.pdf

The Liquor Group Wholesale, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=5642

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved


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