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TODHUNTER ANNOUNCES FIRST QUARTER EARNINGS

 WEST PALM BEACH, Fla., Jan. 28 /PRNewswire/ -- Todhunter International, Inc. (NASDAQ: TODH) today reported net income of $871,696 or 21 cents per share for the quarter ended Dec. 31, 1992, as compared with $661,172 or 21 cents per share for the prior year. Sales for the quarter increased 17.5 percent to $15,890,582. The increase in sales primarily resulted from increased contract bottling sales, as well as increases in sales in the company's other divisions.
 Operating income for the quarter was $1,452,053 compared to $1,431,041 for the prior year. Operating income as a percentage of sales decreased primarily as a result of a shift in product mix towards contract bottling sales, which generally carry lower margins than sales in other divisions. Interest expense declined as a result of reduced indebtedness and lower interest rates.
 The provision for income taxes for 1991 was below the normal rate because of non-recurring deductions.
 Todhunter International, Inc. produces citrus-based brandy, distilled spirits and fortified wine used as ingredients in a variety of alcoholic beverages; bottles coolers and prepared cocktails and other beverages on a contract basis; and produces, for distribution in the Southeast, a line of popular price spirits.
 TODHUNTER INTERNATIONAL, INC.
 1992 1991
 Quarter Dec. 31:
 Net sales $15,890,582 $13,521,482
 Operating income 1,452,053 1,431,041
 Interest expense 586,083 808,334
 Other income (expense) 385,116 248,162
 Income before taxes 1,251,086 870,869
 Provision for income taxes 379,117 209,697
 Net income 871,969 661,172
 Share earnings:
 Net income $0.21 $0.21
 Average shares outstanding 4,107,934 3,115,000
 Shares outstanding at end
 of period 4,427,500 3,115,000
 -0- 1/28/93
 /CONTACT: A. Kenneth Pincourt Jr. or Troy Edwards of Todhunter International, 407-655-8977/
 (TODH)


CO: Todhunter International, Inc. ST: Florida IN: FOD SU: ERN

JB-AW -- FL014 -- 0259 01/28/93 12:24 EST
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Publication:PR Newswire
Date:Jan 28, 1993
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