MOORPARK, CA / ACCESSWIRE / August 13, 2014 / Montalvo Spirits, Inc., (OTC Pink: TQLA) (PINKSHEETS: TQLA) ("Montalvo" or, the "Company") which develops, markets and distributes premium alcoholic beverages, including its award-winning Montalvo Tequila, is pleased to report its financial results for the three months ending June 30, 2014, the first quarter of the Company’s fiscal year 2015.
Financial Results
The Company reported Net Income of $22,733, the first profitable quarter in its corporate history, representing a 28.4% net profit margin.
Revenues increased to $79,923, an 84% increase over the same period in the previous year.
Gross Profit Margin increased to 72% of sales for the quarter, up from 62% of sales in the same period in the previous year.
"We are extremely happy to be reporting the first profitable quarter in our company’s history," stated Alex Viecco, Montalvo’s CEO. "We focused on increasing higher margin revenue while managing our costs efficiently, and delivered our best quarterly results to date," added Viecco.
Operational Highlights
The Company signed an exclusive distribution agreement for Montalvo Tequila with Southern Wine & Spirits in Nevada.
Sales of Montalvo Tequila in Nevada began with the Light Group, one of the country’s leading hospitality development and management companies.
About Montalvo Spirits, Inc.
Montalvo Spirits, Inc. develops markets and distributes premium alcoholic beverages, with its initial offering being the award-winning Montalvo Tequila. The Company plans to focus on artisanal spirit brands with a tradition of excellence and quality. Additional information concerning the Company is available on the Company's website: http://montalvospirits.com
Forward Looking Statements: Statements in this document contain certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended. These statements are based on many assumptions and estimates and are not guarantees of future performance. These statements may involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of Montalvo Spirits, Inc. to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. Montalvo assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the Securities and Exchange Commission ("SEC"). There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement The Company assumes no obligation to update any forward-looking statements as a result of new information, future events or developments, except as required by securities laws.
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SOURCE: Montalvo Spirits, Inc