UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K/A
(Amendment No. 1)
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of Earliest Event Reported):
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February 9, 2016
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Castle Brands Inc.
__________________________________________
(Exact name of registrant as specified in its charter)
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Florida
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001-32849
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41-2103550
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_____________________
(State or other jurisdiction
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_____________
(Commission
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______________
(I.R.S. Employer
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of incorporation)
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File Number)
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Identification No.)
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122 East 42nd Street, Suite 4700, New York, New York
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10168
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_________________________________
(Address of principal executive offices)
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___________
(Zip Code)
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Registrants telephone number, including area code:
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(646) 356-0200
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Not Applicable
______________________________________________
Former name or former address, if changed since last report
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Explanatory Note
Castle Brands Inc. is filing this Amendment No. 1 to its Current Report on Form 8-K, as filed with
the SEC on February 9, 2016, to refurnish the press release attached as Exhibit 99.1. The revised
press release corrects errors in the headings to the Consolidated Statements of Operations table.
Item 2.02 Results of Operations and Financial Condition.
On February 9, 2016, Castle Brands Inc. issued a press release announcing financial results for the
three and nine months ended December 31, 2015. A copy of the press release is attached hereto as
Exhibit 99.1.
The information included herein and in Exhibit 99.1 shall not be deemed filed for purposes of
Section 18 of the Securities Exchange Act of 1934 (Exchange Act) or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated by reference in any filing under
the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference
in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
99.1 Press release dated February 9, 2016.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
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Castle Brands Inc.
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February 10, 2016
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By:
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/s/ Alfred J. Small
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Name: Alfred J. Small
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Title: SVP, CFO, Treas. & Secretary
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Exhibit Index
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Exhibit No.
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Description
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99.1
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Press release dated February 9, 2016.
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Castle Brands Announces Fiscal 2016 Third Quarter Results
Goslings Rum and Goslings Stormy Ginger Beer Post Strong Results
Net Sales increase 8.0% for the Quarter and 26.5% Year to Date
NEW YORK February 9, 2016 Castle Brands Inc. (NYSE MKT: ROX), a developer and international
marketer of premium and super-premium branded spirits, today reported financial results for the
three and nine month periods ended December 31, 2015.
Operating highlights for the quarter and nine months ended December 31, 2015:
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Goslings Rum revenue increased 40.5% to $4.6 million for the third quarter of fiscal 2016, as
compared to $3.3 million for the comparable prior-year period on volume growth of 32.2%. |
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Goslings Stormy Ginger Beer revenue increased 53.1% to $3.4 million for the third quarter of
fiscal 2016, as compared to 2.3 million for the comparable prior-year period on volume growth
of 45.7%. |
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Net sales increased 8.0% to $17.2 million for the third quarter of fiscal 2016, as compared
to $15.9 million for the comparable prior-year period. |
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Net sales increased 26.5% to $52.3 million for the nine month period ended December 31, 2015,
as compared to $41.3 million for the comparable prior-year period. |
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Shipments of Jeffersons Bourbon increased 54.1% to 43,000 cases in the nine month period
ended December 31, 2015, as compared to 27,900 in the comparable prior-year period. |
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The Company continued to increase its bourbon reserves for its Jeffersons brand by
purchasing and aging over 4,000 new fill barrels in the third quarter at the Companys newly
completed warehouse at Kentucky Artisan Distillers. |
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EBITDA, as adjusted increased 11.3% to $0.7 million in the third quarter of fiscal 2016, as
compared to $0.6 million in the comparable prior-year period. |
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The Company extended its exclusive distribution agreement with I.L.A.R. S.p.A to import
Pallini Limoncello and other brand extensions. |
This was another strong quarter for Castle Brands. Substantial growth of Goslings Rums and
Goslings Stormy Ginger Beer drove continued revenue growth and even greater growth in gross profit.
This allowed us to reduce net loss and increase EBITDA, as adjusted. We expect these trends of
increasing sales and improving financial performance to continue over the balance of the fiscal
year and beyond. stated Richard J. Lampen, President and Chief Executive Officer of Castle Brands.
We are particularly pleased to see the strong growth in Goslings this quarter. We attribute
this growth in part to our sponsorship of the 35th Americas Cup and to Goslings new
packaging, which incorporates the Americas Cup logo. The Americas Cup has become an extreme sport
and millions of viewers are following this very high-profile series of events. Upcoming races in
New York City in May and Chicago in June will bring strong brand exposure. The Americas Cup will
culminate with the Challenger Playoffs and Finals in Bermuda in 2017. Goslings is gaining far more
visibility and global reach than ever before with an enormous audience that goes well beyond the
demographics of the sailing world, said John Glover, Chief Operating Officer of Castle Brands.
By laying down over 4,000 barrels of new fill, we are complementing our substantial reserves of
aged bourbon to support continued strong growth of our Jeffersons brand. Our Jeffersons Ocean
Aged at Sea® Bourbon and various expressions of Jeffersons utilizing special finishes are adding
to the already high interest in Jeffersons Bourbon. While we did not release any of these special
expressions in the third quarter, we have two special releases planned for the fourth quarter. In
addition, we completed the new packaging for our Knappogue Castle Whiskey and are expanding the
Knappogue Castle barrel program. Whiskey sales for the first nine months of fiscal 2016 increased
38% over the same period in 2015. We expect that these initiatives will continue to drive strong
sales increases for our whiskey portfolio, Mr. Glover added.
For the Three and Nine Months Ended December 31, 2015
In the third quarter of fiscal 2016, the Company had net sales of $17.2 million, an 8.0% increase
from net sales of $15.9 million in the comparable prior-year period. This sales growth was driven
primarily by the growth of Goslings Rums and Stormy Ginger Beer. Net loss was ($0.6) million in the
third quarter of fiscal 2016 compared to a net loss of ($0.3) million in the comparable prior-year
period. Net loss attributable to common shareholders was ($0.8) million, or ($0.01) per basic and
diluted share, in the third quarter of fiscal 2016, as compared to ($0.6) million, or ($0.00) per
basic and diluted share, in the comparable prior-year period.
EBITDA, as adjusted, for the third quarter of fiscal 2016 was $0.7 million as compared to $0.6
million for the comparable prior-year period.
For the nine months ended December 31, 2015, the Company had net sales of $52.3 million, a 26.5%
increase from net sales of $41.3 million in the comparable prior-year period. Net loss was ($2.1)
million for the nine months ended December 31, 2015, as compared to a net loss of ($2.4) million in
the comparable prior-year period. Net loss attributable to common shareholders was ($2.9) million,
or ($0.02) per basic and diluted share, for the nine months ended December 31, 2015, as compared to
($3.2) million, or ($0.02) per basic and diluted share, in the comparable prior-year period.
EBITDA, as adjusted, for the first nine months of fiscal 2016 improved to $2.2 million as compared
to $0.7 million for the comparable prior-year period.
Non-GAAP Financial Measures
Within the information above, Castle Brands provides information regarding EBITDA, as adjusted,
which is not a recognized term under GAAP (Generally Accepted Accounting Principles) and does not
purport to be an alternative to income (loss) from operations or net income (loss) as a measure of
operating performance. Earnings before interest, taxes, depreciation and amortization, or EBITDA,
adjusted for allowances for doubtful accounts and obsolete inventory, stock-based compensation
expense, other (income) expense, net, income from equity investment in non-consolidated affiliate,
foreign exchange loss and net income attributable to noncontrolling interests is a key metric the
Company uses in evaluating its financial performance on a consistent basis across various periods.
EBITDA, as adjusted, is considered a non-GAAP financial measure as defined by Regulation G
promulgated by the SEC under the Securities Act of 1933, as amended. Due to the significance of
non-cash and non-recurring items, EBITDA, as adjusted, enables the Companys Board of Directors and
management to monitor and evaluate the business on a consistent basis. The Company uses EBITDA, as
adjusted, as a primary measure, among others, to analyze and evaluate financial and strategic
planning decisions regarding future operating investments and allocation of capital resources. The
Company believes that EBITDA, as adjusted, eliminates items that are not indicative of its core
operating performance or are based on managements estimates, such as allowance accounts, are due
to changes in valuation, such as the effects of changes in foreign exchange, or do not involve a
cash outlay, such as stock-based compensation expense. EBITDA, as adjusted, should be considered in
addition to, rather than as a substitute for, income from operations, net income and cash flows
from operating activities. A reconciliation of net loss attributable to common shareholders to
EBITDA, as adjusted, is presented below.
About Castle Brands
Castle Brands is a developer and international marketer of premium and super-premium branded
spirits including: Goslings Rum®, Jeffersons®, Jeffersons Presidential
SelectTM, Jeffersons Reserve® and Jeffersons Ocean Aged at Sea®
Bourbon, Jeffersons Chefs Collaboration and Jeffersons The Manhattan: Barrel Finished Cocktail,
Jeffersons® Rye Whiskey, Knappogue Castle Whiskey®, Knappogue Twin Wood,
Knappogue Castle 1951, Clontarf® Irish Whiskey, Pallini® Limoncello,
Boru® Vodka and Bradys® Irish Cream. Additional information concerning the
Company is available on the Companys website, www.castlebrandsinc.com.
Forward Looking Statements
This press release includes statements of our expectations, intentions, plans and beliefs that
constitute forward looking statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to come within the
safe harbor protection provided by those sections. These statements, which involve risks and
uncertainties, relate to the discussion of our business strategies and our expectations concerning
future operations, margins, sales, new products and brands, potential joint ventures, potential
acquisitions, expenses, profitability, liquidity and capital resources and to analyses and other
information that are based on forecasts of future results and estimates of amounts not yet
determinable. You can identify these and other forward-looking statements by the use of such words
as may, will, should, expects, intends, plans, anticipates, believes, thinks,
estimates, seeks, predicts, could, projects, potential and other similar terms and
phrases, including references to assumptions. These forward looking statements are made based on
expectations and beliefs concerning future events affecting us and are subject to uncertainties,
risks and factors relating to our operations and business environments, all of which are difficult
to predict and many of which are beyond our control, that could cause our actual results to differ
materially from those matters expressed or implied by these forward looking statements. These risks
include our history of losses and expectation of further losses, our ability to expand our
operations in both new and existing markets, our ability to develop or acquire new brands, our
relationships with distributors, the success of our marketing activities, the effect of competition
in our industry and economic and political conditions generally, including the current economic
environment and markets. More information about these and other factors are described under the
caption Risk Factors in Castle Brands Annual Report on Form 10-K for the year ended March 31,
2015, as amended, and other reports we file with the Securities and Exchange Commission. When
considering these forward looking statements, you should keep in mind the cautionary statements in
this press release and the reports we file with the Securities and Exchange Commission. New risks
and uncertainties arise from time to time, and we cannot predict those events or how they may
affect us. We assume no obligation to update any forward looking statements after the date of this
press release as a result of new information, future events or developments, except as required by
the federal securities laws.
1
CASTLE BRANDS INC. AND SUBSIDIARIES
Consolidated Statements of Operations
(Unaudited)
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Three months ended December 31, |
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Nine months ended December 31, |
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2015 |
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2014 |
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2015 |
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2014 |
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Sales, net* |
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$ |
17,207,372 |
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$15,936,514 |
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$ |
52,256,960 |
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$41,300,417 |
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Cost of sales* |
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10,505,277 |
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9,941,654 |
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31,871,149 |
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25,875,230 |
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Gross profit |
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6,702,095 |
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5,994,860 |
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20,385,811 |
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15,425,187 |
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Selling expense |
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4,618,614 |
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4,034,964 |
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13,911,772 |
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10,866,113 |
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General and |
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administrative expense |
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1,751,369 |
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1,565,380 |
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5,508,792 |
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4,544,313 |
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Depreciation and |
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amortization |
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235,250 |
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237,652 |
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696,575 |
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669,623 |
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Income (loss) from |
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operations |
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96,862 |
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156,864 |
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268,672 |
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(654,862) |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other (expense)
income, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(208 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(221 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
16,798 |
|
|
|
|
|
Foreign exchange |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(loss) gain |
|
|
|
|
|
|
|
|
|
|
(41,634 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
57,879 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(131,213 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(207,579) |
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
(271,677 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(267,459) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(786,477 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(844,316) |
|
|
|
|
Income from equity
investment in
non-consolidated
affiliate |
|
|
|
|
|
|
|
|
|
|
4,500 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,013 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss before provision |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
for income taxes |
|
|
|
|
|
|
|
|
|
|
(211,949 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(52,924) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(640,226 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,689,959) |
|
|
|
|
Income tax expense, net |
|
|
|
|
|
|
|
|
|
|
(383,962 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(258,962) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(1,487,886 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(681,886) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss |
|
|
|
|
|
|
|
|
|
|
(595,911 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(311,886) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,128,112 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(2,371,845) |
|
|
|
|
Net income
attributable to
noncontrolling |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
interests |
|
|
|
|
|
|
|
|
|
|
(211,792 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(279,110) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(814,524 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
(795,495) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss attributable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to common shareholders |
|
|
|
|
|
|
|
|
|
$ |
(807,703 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
$(590,996) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(2,942,636 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
$(3,167,340) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per common
share, basic and
diluted, attributable
to common shareholders |
|
|
|
|
|
|
|
|
|
$ |
(0.01 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
|
|
|
|
(0.00 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
$ |
|
|
|
|
(0.02 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average
shares used in
computation, basic and
diluted, attributable |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to common shareholders |
|
|
|
|
|
|
|
|
|
|
160,031,891 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
155,831,146 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
159,119,831 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
154,989,569 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Sales, net and Cost of sales include excise taxes of $1,542,619 and $1,677,886 for the three
months ended December 31, 2015 and 2014, respectively, and $5,230,618 and $4,736,838 for the nine
months ended December 31, 2015 and 2014, respectively.
2
CASTLE BRANDS INC. AND SUBSIDIARIES
Reconciliation of net loss attributable to common shareholders to EBITDA, as adjusted
(Unaudited)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three months ended |
|
|
|
|
|
Nine months ended |
|
|
|
|
|
|
December 31, |
|
|
|
|
|
December 31, |
|
|
|
|
|
|
2015 |
|
|
|
|
|
2014 |
|
|
|
|
|
2015 |
|
|
|
|
|
2014 |
|
|
Net loss attributable to common shareholders |
|
|
|
|
|
$ |
|
|
|
|
(807,703 |
) |
|
|
|
|
|
|
|
|
|
$ |
|
|
|
|
(590,996 |
) |
|
|
|
|
|
|
|
|
|
$ |
|
|
|
|
(2,942,636 |
) |
|
|
|
|
|
|
|
|
|
$ |
|
|
|
|
(3,167,340 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjustments: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense, net |
|
|
|
|
|
|
|
|
|
|
271,677 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
267,459 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
786,477 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
844,316 |
|
|
|
|
|
Income tax expense, net |
|
|
|
|
|
|
|
|
|
|
383,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
258,962 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,487,886 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
681,886 |
|
|
|
|
|
Depreciation and amortization |
|
|
|
|
|
|
|
|
|
|
235,250 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
237,652 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
696,575 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
669,623 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA (loss) income |
|
|
|
|
|
|
|
|
|
|
83,186 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
173,077 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
28,302 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(971,515 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for doubtful accounts |
|
|
|
|
|
|
|
|
|
|
9,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
9,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
52,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
77,000 |
|
|
|
|
|
Allowance for obsolete inventory |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
100,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stock-based compensation expense |
|
|
|
|
|
|
|
|
|
|
338,023 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
206,553 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
1,036,412 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
606,817 |
|
|
|
|
|
Other (income) expense, net |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
208 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
221 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(16,798 |
) |
|
|
|
|
Income from equity investments in non-consolidated
affiliate |
|
|
|
|
|
|
|
|
|
|
(4,500 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(9,013 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Foreign exchange loss (gain) |
|
|
|
|
|
|
|
|
|
|
41,634 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(57,879 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
131,213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
207,579 |
|
|
|
|
|
Net income attributable to noncontrolling interests |
|
|
|
|
|
|
|
|
|
|
211,792 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
279,110 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
814,524 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
795,495 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
EBITDA, as adjusted |
|
|
|
|
|
|
|
|
|
|
679,135 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
610,069 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2,153,659 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
698,578 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
# # #
Castle Brands Inc.
Investor Relations, 646-356-0200
info@castlebrandsinc.com
www.castlebrandsinc.com
3
Castle Brands (AMEX:ROX)
過去 株価チャート
から 6 2024 まで 7 2024
Castle Brands (AMEX:ROX)
過去 株価チャート
から 7 2023 まで 7 2024