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Technology Stocks : Ravenswood Winery -- Ignore unavailable to you. Want to Upgrade?

To: 4 - Bob who wrote (33)	5/14/1999 9:02:00 AM
From: Tom Smith	Read Replies (1) \| Respond to of 36

Ravenswood Announces Third Quarter Results Thursday May 13, 7:47 pm Eastern Time Company Press Release SONOMA, Calif.--(BUSINESS WIRE)--May 13, 1999--Ravenswood Winery, Inc. (Nasdaq:RVWD - news) reported higher sales and profits for its fiscal third quarter ended March 31, 1999 than for the same period last year. Net sales rose 39 percent to $4,961,057 and net income increased by 64 percent to $756,228 from 1998. Earnings per share, on a fully diluted basis, climbed to 21 cents per share from the previous year's level of 12 cents per share. This financial performance reflects increased sales in all of Ravenswood's products, particularly the value-priced Vintners Blend and County Series wines. Case sales of Ravenswood wines rose 38% over the previous year's level. Results for the nine months ended March 31, 1999 were similar to the quarterly information. Net sales of $16,543,574 and net income of $3,041,460 were 38 percent and 45 percent above the previous year, respectively. Fully diluted earnings per share increased 43 percent from 56 cents to 80 cents per share. Case sales of wine increased 41 percent from the previous year. During the quarter, Ravenswood started construction of its new ''Quarry'' winery facility. This 45,000 square foot expansion project is located in the southern Sonoma Valley. The company also released several wines from the much-heralded 1997 vintage, including its Vintners Blend Merlot, Napa Valley Zinfandel, Lodi Zinfandel and Amador County Zinfandel. Ravenswood Winery, Inc. produces, markets and sells super-premium and ultra-premium wines exclusively under the Ravenswood brand name. The majority of the wines produced and sold by Ravenswood are red wines, including Merlot, Cabernet Sauvignon and, particularly, Zinfandel. Ravenswood also produces several white wines including Chardonnay. On April 14, 1999, Ravenswood completed an initial public offering of one million shares of common stock. Ravenswood's shares are listed on the Nasdaq National Market under the trading symbol RVWD.