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Eldorado Artesian Springs, Inc. Announces Year End Results for March 31, 1999.

BOULDER, Colo., July 1 /PRNewswire/ -- Eldorado Artesian Springs, Inc. (OTC Bulletin Board: ELAR) filed results for the year ended March 31, 1999. Eldorado's revenues for the year ended March 31, 1999 increased 21.3% from the previous year to $4,036,822 from $3,329,444 for the year ended March 31, 1998. Net income before taxes for the year ended March 31, 1999 increased 85.2% to $217,850. Income taxes for the year were $79,736 resulting in net income of $138,114. Net income increased 66% from the same period a year ago.

Beverage industry analysts reveal that bottled water is the fastest growing major category in the entire industry. The bottled water industry as a whole is a $3.9 billion business and is currently growing at a rate of 9% to 10% per year. The PET (polyethylene terephtalate, a premium clear plastic container) segment of the bottled water industry is currently a $930 million business and is growing at a much faster rate (at an estimated 20% to 30% per year) than the industry as a whole. Analysts expect just the PET segment of the industry to reach $3 billion in wholesale sales over the next ten years.

Eldorado Artesian Springs, Inc. is a Colorado-based company located in Eldorado Springs, Colorado. Eldorado is primarily engaged in the bottling and marketing of natural artesian spring water. The springs are located in the foothills of the Colorado Rocky Mountains and are surrounded by thousands of acres of state and city park land, providing a well protected source.

Eldorado has focused on developing and expanding the business of bottling Eldorado Spring water. Currently, Eldorado's operations consist of its home and commercial delivery business of five and three gallon bottles. In addition, Eldorado also bottles and delivers smaller PET bottles in sizes of .5 liter, 1.0 liter and 1.5 liter. Eldorado's products have been well received among retail grocery chains and Eldorado continues to solidly increase revenues and earnings by penetrating new markets for its bottled water. Eldorado's goal is to expand its operation based on the continued success of its smaller size bottles. Eldorado's plan consists of multiple phases that ultimately are targeted to expand distribution of Eldorado's retail products to regional and national markets.
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Publication:PR Newswire
Date:Jul 1, 1999
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