{"id":417826,"date":"2021-01-20T09:03:31","date_gmt":"2021-01-20T14:03:31","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=417826"},"modified":"2021-01-20T09:03:31","modified_gmt":"2021-01-20T14:03:31","slug":"scheid-family-wines-reports-third-quarter-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/","title":{"rendered":"Scheid Family Wines Reports Third Quarter Results"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>\n        <span class=\"xn-location\">SALINAS, Calif.<\/span>, <span class=\"xn-chron\">Jan. 20, 2021<\/span> \/PRNewswire\/ &#8212;\u00a0Scheid Vineyards Inc. (dba Scheid Family Wines) (OTC Markets: SVIN) announced today its financial results for the nine months ended <span class=\"xn-chron\">November 30, 2020<\/span> (3<sup>rd<\/sup> quarter of Fiscal 2021).<\/p>\n<p>\n        <b>Financial Results &#8211; Third Quarter Results Fiscal 2021 (<span class=\"xn-chron\">March 1, 2020<\/span> \u2013 <span class=\"xn-chron\">November 30, 2020<\/span>)<\/b>\n      <\/p>\n<div>\n<table cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"5\" nowrap=\"nowrap\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <u>Nine Months Ended November 30,<\/u><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u><br \/>\n                    <b>2020<\/b><br \/>\n                  <\/u><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" nowrap=\"nowrap\" class=\"prngen4\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <u><br \/>\n                    <b>2019<\/b><br \/>\n                  <\/u><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>REVENUES:<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Cased goods sales<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">22,278<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">21,831<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Bulk wine sales<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">12,178<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,374<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Winery processing and storage revenues<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">4,765<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">3,153<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Grape sales<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">717<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,632<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">\u00a0\u00a0\u00a0 Direct sales revenues<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,041<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,889<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Vineyard management revenues<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">296<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">460<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other revenues<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">280<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml20\">\n                <span class=\"prnews_span\">Total revenues<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">42,285<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">33,619<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>COST OF SALES<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(31,629)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(26,576)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>GROSS PROFIT<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">10,656<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen6\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">7,043<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Sales and marketing expenses<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,337)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,003)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">General and administrative expenses<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,967)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(6,417)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Interest expense, net<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,460)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,615)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnml10\">\n                <span class=\"prnews_span\">Other<\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen7\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(1)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen2\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">57<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>LOSS BEFORE BENEFIT FROM INCOME TAXES<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(5,109)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen8\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(9,935)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>BENEFIT FROM INCOME TAXES<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">1,430<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen9\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">2,782<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NET LOSS<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(3,679)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(7,153)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td class=\"prngen5\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>NET LOSS PER SHARE<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(4.17)<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td class=\"prngen10\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">$<\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen11\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\">(8.10)<\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<td class=\"prngen2\">\n              \n            <\/td>\n<td colspan=\"2\" class=\"prngen12\">\n              \n            <\/td>\n<\/tr>\n<tr>\n<td colspan=\"6\" class=\"prngen3\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b><br \/>\n                    <i>(amounts in thousands, except per share data)<\/i><br \/>\n                  <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>Mr. <span class=\"xn-person\">Mike Thomsen<\/span>, Chief Financial Officer of the Company, commented on the third quarter results stating, &#8220;Our case goods sales and direct sales revenues are slightly ahead of last fiscal year, increasing 3% through the third quarter, despite COVID-19 related effects on the Company&#8217;s business including decreased on-premise and airline\/cruise ship sales and <span class=\"xn-location\">California&#8217;s<\/span> prohibition against wine tasting in our two tasting rooms for over four months. Demand for bulk wine continues to be strong and bulk wine sales revenue has increased 177%, from <span class=\"xn-money\">$4.4<\/span> to <span class=\"xn-money\">$12.2 million<\/span> in the first nine months of fiscal 2021. Grape sales declined 56% from <span class=\"xn-money\">$1.6 million<\/span> to <span class=\"xn-money\">$0.7 million<\/span>.\u00a0 Overall, total revenues increased 26% from the previous year nine-month period and gross profit margins increased from 21% to 25%.\u00a0 In addition, total sales, marketing and administrative expenses decreased 8%, from <span class=\"xn-money\">$13.4<\/span> to <span class=\"xn-money\">$12.3 million<\/span>.\u00a0 The Company&#8217;s net loss decreased 49% to <span class=\"xn-money\">$3.7 million<\/span> as compared to <span class=\"xn-money\">$7.2 million<\/span> in the first nine months of fiscal 2020.&#8221;<\/p>\n<p>\n        <b>The 2020 Harvest<\/b>\n      <\/p>\n<p>Mr. <span class=\"xn-person\">Scott Scheid<\/span>, President and CEO of the Company, stated, &#8220;Our 2020 wine grape harvest was completed on <span class=\"xn-chron\">November 9, 2020<\/span>. Yields were down approximately 25% from the Company&#8217;s five-year average and it appears that wine grape yields are down state-wide, particularly in the northern areas most affected by the late summer wildfires. As we previously reported, there has been wine industry concern about the potential of smoke exposure negatively impacting wine quality. At this time however, we have experienced only minor issues and believe that the vast majority of our wines have not been negatively impacted and are of high quality.&#8221;<\/p>\n<p>\n        <b>About Scheid Family Wines<\/b>\n      <\/p>\n<p>\n        <i>Scheid Family Wines is a family-owned, estate-driven wine company founded in 1972. With 4,000 acres of sustainably certified vineyards located in <span class=\"xn-location\">Monterey County, California<\/span>, and an innovative luxury level winery, Scheid Family Wines is fully integrated to bring high quality estate grown wines to the marketplace. Scheid&#8217;s winery and bottling operations are powered by 100% renewable wind energy generated by a 396-foot tall wind turbine, which also supplies energy to many homes in the local community. The Scheid Family Wines globally distributed portfolio includes Scheid Vineyards, Sunny with a Chance of Flowers, Ryder Estate, District 7, Ranch 32, Metz Road, VDR and Stokes&#8217; Ghost. Scheid Family Wines also produces many regionally distributed brands for specific clients and distributors.<\/i>\n      <\/p>\n<p>Please visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3042145-1&amp;h=1348431009&amp;u=http%3A%2F%2Fwww.scheidfamilywines.com%2F&amp;a=www.scheidfamilywines.com\" rel=\"nofollow noopener noreferrer\">www.scheidfamilywines.com<\/a> and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3042145-1&amp;h=4058892256&amp;u=http%3A%2F%2Fwww.otcmarkets.com%2Fstock%2FSVIN%2Fquote&amp;a=www.otcmarkets.com%2Fstock%2FSVIN%2Fquote\" rel=\"nofollow noopener noreferrer\">www.otcmarkets.com\/stock\/SVIN\/quote<\/a>\u00a0for more information. <\/p>\n<div>\n<table id=\"convertedTable07b7\" cellspacing=\"0\" cellpadding=\"0\" border=\"0\" class=\"prnbcc\">\n<tr>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>CONTACT: <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Scott Scheid, President and CEO<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>Mike Thomsen, Chief Financial Officer <\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"prngen13\">\n              \n            <\/td>\n<td class=\"prngen13\">\n<p class=\"prnews_p\">\n                <span class=\"prnews_span\"><br \/>\n                  <b>(831) 455-9990<\/b><br \/>\n                <\/span>\n              <\/p>\n<\/td>\n<\/tr>\n<\/table><\/div>\n<p>\u00a0<\/p>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF53719&amp;sd=2021-01-20\" \/> View original content:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/scheid-family-wines-reports-third-quarter-results-301211464.html\">http:\/\/www.prnewswire.com\/news-releases\/scheid-family-wines-reports-third-quarter-results-301211464.html<\/a><\/p>\n<p>SOURCE  Scheid Family Wines<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=SF53719&amp;Transmission_Id=202101200900PR_NEWS_USPR_____SF53719&amp;DateId=20210120\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire SALINAS, Calif., Jan. 20, 2021 \/PRNewswire\/ &#8212;\u00a0Scheid Vineyards Inc. (dba Scheid Family Wines) (OTC Markets: SVIN) announced today its financial results for the nine months ended November 30, 2020 (3rd quarter of Fiscal 2021). Financial Results &#8211; Third Quarter Results Fiscal 2021 (March 1, 2020 \u2013 November 30, 2020) Nine Months Ended November 30, 2020 2019 REVENUES: Cased goods sales $ 22,278 $ 21,831 Bulk wine sales 12,178 4,374 Winery processing and storage revenues 4,765 3,153 \u00a0\u00a0\u00a0 Grape sales 717 1,632 \u00a0\u00a0\u00a0 Direct sales revenues 2,041 1,889 Vineyard management revenues 296 460 Other revenues 10 280 Total revenues 42,285 33,619 COST OF SALES (31,629) (26,576) GROSS PROFIT 10,656 7,043 Sales and marketing expenses (6,337) (7,003) General and administrative &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Scheid Family Wines Reports Third Quarter Results&#8221;<\/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-417826","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Scheid Family Wines Reports Third Quarter Results - 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\/scheid-family-wines-reports-third-quarter-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scheid Family Wines Reports Third Quarter Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire SALINAS, Calif., Jan. 20, 2021 \/PRNewswire\/ &#8212;\u00a0Scheid Vineyards Inc. (dba Scheid Family Wines) (OTC Markets: SVIN) announced today its financial results for the nine months ended November 30, 2020 (3rd quarter of Fiscal 2021). Financial Results &#8211; Third Quarter Results Fiscal 2021 (March 1, 2020 \u2013 November 30, 2020) Nine Months Ended November 30, 2020 2019 REVENUES: Cased goods sales $ 22,278 $ 21,831 Bulk wine sales 12,178 4,374 Winery processing and storage revenues 4,765 3,153 \u00a0\u00a0\u00a0 Grape sales 717 1,632 \u00a0\u00a0\u00a0 Direct sales revenues 2,041 1,889 Vineyard management revenues 296 460 Other revenues 10 280 Total revenues 42,285 33,619 COST OF SALES (31,629) (26,576) GROSS PROFIT 10,656 7,043 Sales and marketing expenses (6,337) (7,003) General and administrative &hellip; Continue reading &quot;Scheid Family Wines Reports Third Quarter Results&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-20T14:03:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF53719&amp;sd=2021-01-20\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scheid-family-wines-reports-third-quarter-results\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scheid-family-wines-reports-third-quarter-results\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Scheid Family Wines Reports Third Quarter Results\",\"datePublished\":\"2021-01-20T14:03:31+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scheid-family-wines-reports-third-quarter-results\\\/\"},\"wordCount\":520,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scheid-family-wines-reports-third-quarter-results\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/c212.net\\\/c\\\/img\\\/favicon.png?sn=SF53719&amp;sd=2021-01-20\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scheid-family-wines-reports-third-quarter-results\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/scheid-family-wines-reports-third-quarter-results\\\/\",\"name\":\"Scheid Family Wines Reports Third Quarter Results - 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(dba Scheid Family Wines) (OTC Markets: SVIN) announced today its financial results for the nine months ended November 30, 2020 (3rd quarter of Fiscal 2021). Financial Results &#8211; Third Quarter Results Fiscal 2021 (March 1, 2020 \u2013 November 30, 2020) Nine Months Ended November 30, 2020 2019 REVENUES: Cased goods sales $ 22,278 $ 21,831 Bulk wine sales 12,178 4,374 Winery processing and storage revenues 4,765 3,153 \u00a0\u00a0\u00a0 Grape sales 717 1,632 \u00a0\u00a0\u00a0 Direct sales revenues 2,041 1,889 Vineyard management revenues 296 460 Other revenues 10 280 Total revenues 42,285 33,619 COST OF SALES (31,629) (26,576) GROSS PROFIT 10,656 7,043 Sales and marketing expenses (6,337) (7,003) General and administrative &hellip; Continue reading \"Scheid Family Wines Reports Third Quarter Results\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/","og_site_name":"Market Newsdesk","article_published_time":"2021-01-20T14:03:31+00:00","og_image":[{"url":"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF53719&amp;sd=2021-01-20","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Scheid Family Wines Reports Third Quarter Results","datePublished":"2021-01-20T14:03:31+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/"},"wordCount":520,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/#primaryimage"},"thumbnailUrl":"https:\/\/c212.net\/c\/img\/favicon.png?sn=SF53719&amp;sd=2021-01-20","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/scheid-family-wines-reports-third-quarter-results\/","name":"Scheid Family Wines Reports Third Quarter Results - 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