Castle Brands Net Sales Jump 32%, Profit Jumps 10% in Fiscal 3d Quarter

Sales rose to $24.1 million in the third fiscal quarter, ended Dec. 31, and profit jumped to $465,580 from $422,586.

In the third quarter of fiscal 2018, the company had net sales of $24.1 million, a 31.5% increase from net sales of $18.3 million in the comparable prior-year period. This sales growth was primarily driven by the U.S. sales growth of Jefferson’s whiskeys, Goslings rums, Goslings Stormy Ginger Beer and certain liqueur brands.

“We expect these trends of increasing sales and improving financial performance to continue over the balance of the fiscal year and beyond,” said Richard J. Lampen, President/CEO.

“The combination of our new fill whiskey programs and opportunistic purchases of aged whiskey, enabled us to build substantial reserves of aged bourbon to support continued strong growth of our Jefferson’s brand. We released an exclusive, limited-edition Jefferson’s Presidential Select bourbon in the third quarter and plan to expand our Jefferson’s wine finishes program in the coming months. We are also releasing the next voyages of our Jefferson’s Ocean Aged at Sea bourbon, including Cask Strength and a “Wheated” Ocean,” said John Glover, Executive Vice President and Chief Operating Officer.

“The continued growing popularity of ginger beer cocktails, including Goslings’ trademarked “Dark ‘n Stormy” cocktail, has been an important growth driver of both Goslings Stormy Ginger Beer and Goslings Black Seal Rum. Ginger beer sales for the 12 months ended December 31, 2017 exceeded 1.7 million cases, making Goslings Stormy Ginger Beer the best-selling premium ginger beer in America. We are very pleased with the success of our first nine months at Walmart, and look forward to continuing the overall growth of the brand,” Glover added.

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