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Wednesday, Jul 24, 2024
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Glacier Water Reports Q1 Results

Vista-based Glacier Water Services Inc. announced its first quarter results May 19 with 2.8 percent revenue growth to $31.8 million and a jump in operations income.

The company’s first quarter ended April 3. Operations income increased almost 35 percent to $389,000 first quarter of this year, from $289,000 in the prior year. Glacier Water Services Inc. attributes this increase to margins generated from revenue growths, slightly lower depreciation and amortization and selling, general and administrative expenses. Higher machine service and maintenance costs partially offset this increase.

Sales grew 2.7 percent from increasing placements of ice machines and same-store water sales, but was offset by closed stores/retail consolidation.

The company’s net loss was about $2.8 million. Glacier Water Services Inc. has 23,100 machines in 47 states throughout the United States and Canada.

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