Willamette Valley Vineyards (WVVI: Quote),the Oregon based winery,reported Friday an increase in second quarter profit, largely due to lower loss from discontinued operations and contribution of other income.
The company reported second quarter net income of $219,912 or $0.05 per share, an increase of 27.6% compared to $172,369 or $0.04 per share for the year-ago quarter.
Other income for the quarter increased to $35,630 from $2,778 a year ago.
Net revenues for the quarter were $2.85 million, down 0.4% from $2.86 million in the same quarter last year.
Willamette Valley shares closed at $3.53 on Friday, at the Nasdaq.
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by RTT Staff Writer
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