TORRANCE, Calif., Nov. 6, 2014 (GLOBE NEWSWIRE) -- Farmer Bros. Co. (Nasdaq:FARM) today reported financial results for the first quarter ended September 30, 2014.
First Quarter Fiscal 2015 Highlights:
- Net sales increased 5.0% to $136.0 million in the first quarter;
- Gross profit increased $0.1 million to $48.1 million in the first quarter;
- Income from operations was $2.6 million in the first quarter compared to $3.0 million; and
- Net income was $2.5 million, or $0.16 per diluted common share, compared to $1.8 million, or $0.11 per diluted common share.
(All comparisons above are to the first quarter of fiscal 2014.)
"We are pleased with our revenue and volume growth as we enter our new fiscal year," stated Mike Keown, President and CEO of Farmer Brothers. "Growth was well balanced coming from both national account and independent customers. We remain focused on transforming our supply chain to lower costs, improve service, and drive quality." Full report.
