Willamette Valley Vineyards Q2 net loss widens to $1.39 million; revenue slips 1.6% to $10.04 million
WVVI•Second-quarter results
- Willamette Valley Vineyards swung to a net loss of $1.39 million in Q2, from net income of $92,795 a year earlier.
- Revenue slipped 1.6% to $10.04 million, as direct sales fell $262,493 on lower outpost sales.
- Gross margin narrowed 3.5 percentage points to 57.5%, while selling, general and administrative expenses climbed 22.5% to $7.13 million.
- Results were hit by a higher allowance for credit losses tied to Republic National Distributing Company’s bankruptcy filing.
