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Crystal Rock Q3 Profit Falls

Beverages and office refreshments supplier Crystal Rock Holdings Inc. (CRVP), Friday announced a lower profit for the third quarter due to increased operating expenses.

Net income for the third quarter was $0.6 million or $0.03 per share, compared to $1.0 million or $0.05 per share in the prior year.

Net revenues for the quarter edged up 1% to $18.47 million from $18.32 million in the year ago period.

Gross profit increased 2% for the quarter to $10.0 million from $9.8 million in the same quarter a year ago. Gross margin improved to 54% from 53% in 2011.

Shares of Crystal Rock closed at $1.01, down 3 cents or 2.88% on the NYSE.

by RTT Staff Writer

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