{"id":380541,"date":"2020-11-12T19:44:42","date_gmt":"2020-11-13T00:44:42","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=380541"},"modified":"2020-11-12T19:44:42","modified_gmt":"2020-11-13T00:44:42","slug":"willamette-valley-vineyards-posts-a-profit-for-q3-2020","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/willamette-valley-vineyards-posts-a-profit-for-q3-2020\/","title":{"rendered":"Willamette Valley Vineyards Posts a Profit for Q3 2020"},"content":{"rendered":"
\n

PR Newswire<\/p>\n<\/p><\/div>\n

\n

\n SALEM, Ore.<\/span>, Nov. 12, 2020<\/span> \/PRNewswire\/ — Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) (the “Company”), a leading Oregon<\/span> producer of Pinot Noir, generated income applicable to common shareholders of\u00a0$640,347,\u00a0or $0.13 cents<\/span> per share, for the third quarter of 2020, up from\u00a0$595,748 or $0<\/span>.12\u00a0cents per share, for the third quarter in the prior year, representing\u00a0a $44,599<\/span>, or 7.5%, increase in income applicable to common shareholders in the third quarter of 2020 compared to the third quarter of 2019. <\/p>\n

Sales revenue for the three months ended September 30, 2020<\/span> and 2019 were $6,918,131<\/span> and $6,758,367<\/span>, respectively, an increase of $159,764<\/span>, or 2.4%, in the current year period over the prior year period. This increase was mainly caused by an increase in direct sales of $265,018<\/span> being partially offset by a decrease in sales through distributors of $105,254<\/span> in the current year three-month period over the same period in the prior year. The increase in revenue from direct sales to consumers was primarily the result of increased retail sales revenues from our brand ambassador program and increased wine sales made over the internet, which more than offset lower revenues from hospitality and kitchen sales mostly due to the restrictions on the operation of our tasting rooms resulting from the COVID-19 pandemic in 2020. The decrease in revenue from sales through distributors was primarily attributed to lower sales to restaurants and similar businesses as many of these establishments have been closed or had other restrictions placed on them due to the COVID-19 pandemic in 2020.\u00a0<\/p>\n

Gross profit for the three months ended September 30, 2020<\/span> and 2019 was $4,221,197<\/span> and $4,064,022<\/span>, respectively, an increase of $157,175<\/span>, or 3.9%, in the third quarter of 2020 over the same quarter in the prior year. <\/p>\n

Selling, general and administrative expenses for the three months ended September 30, 2020<\/span> and 2019\u00a0was $2,917,363<\/span> and $2,789,695<\/span> respectively, an increase of $127,668<\/span>, or 4.6%, in the current quarter over the same quarter in the prior year. This increase was primarily the result of an increase in selling expenses of $15,918<\/span>, or 0.9% and an increase in general and administrative expenses of $111,750<\/span>, or 12.0% in the current quarter compared to the same quarter last year.\u00a0<\/p>\n

Net income for the three months ended September 30, 2020<\/span> and 2019\u00a0was $896,799<\/span> and $852,200<\/span>, respectively, an increase of $44,599<\/span>, or 5.2%, in the third quarter of 2020 over the same quarter in the prior year. <\/p>\n

Jim\u00a0Bernau, Founder and CEO of the winery,\u00a0said,\u00a0“The winery has continued to demonstrate brand strength, in the face of COVID-19 regulatory restrictions, benefiting from strong stockholder support in retail stores and direct shipments from the winery. It is inspiring to witness our employees’ resourcefulness in protecting their fellow employees and guests while driving sales and making excellent wines.” <\/p>\n

The extent of the impact of the COVID-19 pandemic on the Company’s business is highly uncertain and difficult to predict, as the response to the pandemic is continuing to evolve. The severity of the impact of the COVID-19 pandemic on the Company’s business will depend on a number of factors, including, but not limited to, the duration and severity of the pandemic and the extent and severity of the impact on the Company’s customers, all of which are uncertain and cannot be predicted.<\/p>\n

For a complete discussion of the Company’s financial condition and operating results for the third quarter, see our Form 10-Q for the three months ended September 30, 2020<\/span>, as filed with the United States Securities and Exchange Commission on EDGAR.\u00a0<\/p>\n

Willamette Valley Vineyards, Inc. is headquartered at its Estate Vineyard near Salem<\/span>, Oregon.\u00a0 The Company’s common stock is traded on NASDAQ (WVVI).\u00a0<\/p>\n

Forward-looking statements in this release are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve risks and uncertainties that are based on current expectations, estimates and projections about the Company’s business, and beliefs and assumptions made by management.\u00a0 Words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” “seeks,” “estimates” “intends,” “plans,” “predicts,” “potential,” “should,” or “will” or the negative thereof and variations of such words and similar expressions are intended to identify such forward-looking statements.\u00a0 Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in such forward-looking statements due to numerous factors, including, but not limited to:\u00a0 availability of financing for growth, availability of adequate supply of high quality grapes, successful performance of internal operations, impact of competition, changes in wine broker or distributor relations or performance, impact of possible adverse weather conditions, impact of reduction in grape quality or supply due to disease or smoke from forest fires, changes in consumer spending, the reduction in consumer demand for premium wines and the impact of the COVID-19 pandemic and the policies of United States<\/span> federal, state and local governments in response to such pandemic. In addition, such statements could be affected by general industry and market conditions and growth rates, and general domestic economic conditions.\u00a0 Many of these risks as well as other risks that may have a material adverse impact on our operations and business, are identified in Item 1A “Risk Factors” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2019<\/span>, as well as in the Company’s other Securities and Exchange Commission filings and reports.\u00a0 <\/p>\n

The following is the Company’s Condensed Statement of Income for the three months and nine months ended September 30, 2020<\/span> compared to the three and nine months ended September 30, 2019<\/span>:<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n

\n
\n Three months ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n

\n
\n Nine months ended<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n September 30,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n September 30,<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2020<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n
\n 2019<\/b>
\n <\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n SALES, NET<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 6,918,131<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 6,758,367<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 19,008,680<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 17,547,990<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n

\n
\n COST OF SALES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,696,934<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,694,345<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 7,373,909<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 6,704,974<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n GROSS PROFIT<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,221,197<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,064,022<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 11,634,771<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 10,843,016<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n OPERATING EXPENSES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Sales and marketing<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,876,455<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,860,537<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,238,493<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 5,542,123<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n General and administrative<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,040,908<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 929,158<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,064,332<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,865,697<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n

\n Total operating expenses<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,917,363<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,789,695<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,302,825<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 8,407,820<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n INCOME FROM OPERATIONS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,303,834<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,274,327<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,331,946<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,435,196<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n OTHER INCOME (EXPENSE)<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n \n <\/td>\n\n

\n Interest income<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,615<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 25,268<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 17,845<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 35,554<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Interest expense<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (103,283)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (110,547)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (314,158)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (332,049)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n

\n Other income (expense), net<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 37,097<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (18,060)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 137,899<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 103,040<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n INCOME BEFORE INCOME TAXES<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,240,263<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,170,988<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 3,173,532<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,241,741<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n INCOME TAX PROVISION\u00a0<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (343,464)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (318,788)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (869,230)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (603,154)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n NET INCOME<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 896,799<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 852,200<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 2,304,302<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 1,638,587<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Accrued preferred stock dividends<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (256,452)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (256,452)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (769,356)<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n (769,357)<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n INCOME APPLICABLE TO COMMON SHAREHOLDERS<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 640,347<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 595,748<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a01,534,946<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0869,230<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Earnings per common share after preferred dividends, <\/b>
\n <\/span>
\n
\n basic and diluted<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.13<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.12<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 0.31<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n $ \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a00.18<\/span>\n <\/p>\n<\/td>\n<\/tr>\n

\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n\n \n <\/td>\n<\/tr>\n
\n

\n
\n Weighted-average number of\u00a0<\/b>
\n <\/span>
\n
\n common shares outstanding<\/b>
\n <\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,964,529<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,964,529<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,964,529<\/span>\n <\/p>\n<\/td>\n

\n \n <\/td>\n\n

\n 4,964,529<\/span>\n <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n

\u00a0<\/p>\n

\n \"Cision\" View original content:http:\/\/www.prnewswire.com\/news-releases\/willamette-valley-vineyards-posts-a-profit-for-q3-2020-301172469.html<\/a><\/p>\n

SOURCE Willamette Valley Vineyards<\/p>\n<\/p><\/div>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

PR Newswire SALEM, Ore., Nov. 12, 2020 \/PRNewswire\/ — Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) (the “Company”), a leading Oregon producer of Pinot Noir, generated income applicable to common shareholders of\u00a0$640,347,\u00a0or $0.13 cents per share, for the third quarter of 2020, up from\u00a0$595,748 or $0.12\u00a0cents per share, for the third quarter in the prior year, representing\u00a0a $44,599, or 7.5%, increase in income applicable to common shareholders in the third quarter of 2020 compared to the third quarter of 2019. Sales revenue for the three months ended September 30, 2020 and 2019 were $6,918,131 and $6,758,367, respectively, an increase of $159,764, or 2.4%, in the current year period over the prior year period. This increase was mainly caused by an increase in … <\/p>\n

Continue reading “Willamette Valley Vineyards Posts a Profit for Q3 2020”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-380541","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nWillamette Valley Vineyards Posts a Profit for Q3 2020 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/willamette-valley-vineyards-posts-a-profit-for-q3-2020\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Willamette Valley Vineyards Posts a Profit for Q3 2020 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SALEM, Ore., Nov. 12, 2020 \/PRNewswire\/ — Willamette Valley Vineyards, Inc. (NASDAQ:WVVI) (the “Company”), a leading Oregon producer of Pinot Noir, generated income applicable to common shareholders of\u00a0$640,347,\u00a0or $0.13 cents per share, for the third quarter of 2020, up from\u00a0$595,748 or $0.12\u00a0cents per share, for the third quarter in the prior year, representing\u00a0a $44,599, or 7.5%, increase in income applicable to common shareholders in the third quarter of 2020 compared to the third quarter of 2019. Sales revenue for the three months ended September 30, 2020 and 2019 were $6,918,131 and $6,758,367, respectively, an increase of $159,764, or 2.4%, in the current year period over the prior year period. 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(NASDAQ:WVVI) (the “Company”), a leading Oregon producer of Pinot Noir, generated income applicable to common shareholders of\u00a0$640,347,\u00a0or $0.13 cents per share, for the third quarter of 2020, up from\u00a0$595,748 or $0.12\u00a0cents per share, for the third quarter in the prior year, representing\u00a0a $44,599, or 7.5%, increase in income applicable to common shareholders in the third quarter of 2020 compared to the third quarter of 2019. Sales revenue for the three months ended September 30, 2020 and 2019 were $6,918,131 and $6,758,367, respectively, an increase of $159,764, or 2.4%, in the current year period over the prior year period. 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