Eldorado Artesian Springs, Inc. Financial Report: Third Quarter Ended December 31, 2011

February 17, 2012

Eldorado Artesian Springs, Inc. (OTCQB: ELDO.PK) reported revenues for its fiscal third quarter ended December 31, 2011 increased 4.2% to $2.1 million compared to revenues of $2.01 million during the third quarter in fiscal 2011.  For the first nine months of fiscal 2012, revenues increased 5.2% to $7.13 million versus revenues of $6.77 million during the same period in the prior fiscal year.  Revenues benefited from higher sales in nearly all product lines.  Consumers also moved to the larger more economical packaging pushing sales of the one gallon branded product higher by 19% so far in fiscal 2012.  The current year has also benefited from a warmer than average summer season increasing revenues at the resort by 21%

The net loss for the third quarter increased 21.7% to $31.5 thousand or $(0.01) per share compared to a net loss of $25 thousand or $(0.004) per share during the third quarter of fiscal 2011.  For the first nine months of fiscal 2012, the company reported net income of $45 thousand or $0.01 per share versus a net loss of $42 thousand or $(0.01) per share during the same period in the prior fiscal year.  Despite higher revenues in the third quarter, the company saw an increase in several expenses including an 11% increase in delivery expense.  While the company reported lower gross profit margins during the first nine months, the company was able to reduce salary and advertising expenses.

As of December 31, 2011, the balance sheet reflected current assets of $1.53 million, total assets of $5.94 million, current liabilities of $1.26 million and total liabilities of $5.35 million.  During the first nine months of fiscal 2012, shareholders’ equity increased 11.1% to $597 thousand.

Source: Eldorado Artesian Springs, Inc. is engaged in the bottling, marketing and distributing of natural spring water and vitamin water under the Eldorado Artesian Spring Water brand.  The company also owns and operates a spring fed swimming pool and resort on its grounds in Eldorado Springs, Colorado.

Source: Eldorado Artesian Springs, Inc.


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