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Castle Brands net income $5.7 million

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Christian Fernsby |
Castle Brands reported financial results
Castle Brands   Continued growth of Jefferson's bourbons led to a 20.6% increase in case sa

Castle Brands reported financial results for the quarter and fiscal year ended March 31, 2019.

Net income attributable to common shareholders was $5.7 million for fiscal 2019, as compared to a net loss attributable to common shareholders of ($0.8) million for the prior fiscal year.

While this is largely the result of an adjustment to deferred tax assets, it marks an important turning point for the company.

Continued growth of Jefferson's bourbons led to a 20.6% increase in case sales for fiscal 2019 over the prior fiscal year.

By making opportunistic purchases of aged bourbon and continuing its new fill programs, Castle Brands purchased an additional $14.3 million of bourbon in fiscal 2019 to support the continued growth of Jefferson's.

Goslings Stormy Ginger Beer, the best-selling premium ginger beer in America, case sales surpassed 2,000,000 cases in fiscal 2019, a 6.4% increase over the prior fiscal year.


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