Beverages and office refreshments supplier Crystal Rock Holdings Inc. (CRVP: Quote), 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.
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by RTT Staff Writer
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