Glacier Water Announces Second Quarter and YTD Results.VISTA, Calif. -- Glacier glacier, moving mass of ice that survives year to year, formed by the compacting of snow into névé and then into granular ice and set in motion outward and downward by the force of gravity and the stress of its accumulated mass. Water Services, Inc. (Pink Sheets: GWSV) announced results for the quarter ended July 1, 2007. Brian McInerney, Chief Executive Officer of Glacier Water, said, "Total revenues for the second quarter and the six-month period were up 1.2% and 3.5%, respectively, versus the same periods last year. Same store revenue growth for the six-month period was 8.4%. Revenue growth during the second quarter was moderated by the sustained wet weather in the Southwest, particularly in Texas, record heat during the same period last year and the impact of approximately 170 Albertson's store closures. Income from operations for the second quarter was $1,172,000 and was impacted by higher operating costs operating costs npl → gastos mpl operacionales , particularly fuel, healthcare premiums and increased machine refurbishing costs to support new location growth." Revenues for the quarter ended July 1, 2007 increased 1.2% to $22,870,000 compared to $22,594,000 for the same quarter a year ago. For the six-month period ended July 1, 2007, revenues increased 3.5% to $43,508,000 compared to $42,042,000 for the same period a year ago. The increase in revenues for both the quarter and the six-month period was primarily the result of higher volume per machine plus the impact of additional locations this year compared to the same periods last year. The Company's income from operations for the quarter ended July 1, 2007 was $1,172,000 compared to $1,658,000 for the same period last year. For the six-month period ended July 1, 2007, income from operations was $1,299,000 compared to $1,646,000 for the same period last year. Income from operations in both the three- and six-month periods was negatively impacted by higher operating costs including fuel, healthcare premiums and machine refurbishing costs as compared to last year. Also included in income from operations was $72,000 and $130,000 of additional non-cash stock compensation expense for the quarter and the six-month periods, respectively. The Company's net loss applicable to common stockholders for the quarter ended July 1, 2007, was $1,102,000, or $0.42 per basic and diluted di·lute tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. share, compared to a loss of $700,000, or $0.29 per basic and diluted share, for the same period last year. For the six-month period ended July 1, 2007, the net loss applicable to common stockholders was $3,273,000, or $1.25 per basic and diluted share, compared to a loss of $3,102,000, or $1.32 per basic and diluted share, for the same period last year. With approximately 16,100 machines located in 41 states throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and Canada, Glacier is the leading provider of high quality, low-priced drinking water drinking water supply of water available to animals for drinking supplied via nipples, in troughs, dams, ponds and larger natural water sources; an insufficient supply leads to dehydration; it can be the source of infection, e.g. leptospirosis, salmonellosis, or of poisoning, e.g. dispensed dis·pense v. dis·pensed, dis·pens·ing, dis·pens·es v.tr. 1. To deal out in parts or portions; distribute. See Synonyms at distribute. 2. To prepare and give out (medicines). 3. to consumers through self-service bottled water machines located at supermarkets and other retail locations. Statements in this announcement that are not purely historical are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. A copy of the Company's audited financial statements for the year ended December 31, 2006 are available on the Company's website, www.glacierwater.com, or can be obtained by contacting W. David Walters David Lee Walters (born November 20, 1951) was the Democratic governor of the U.S. state of Oklahoma from 1991 to 1995. Walters was born near Canute, Oklahoma. He graduated as valedictorian from Canute High School in 1969. at 760-560-1111. [TABLE OMITTED] [TABLE OMITTED] |
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