Scheid Family Wines Reports Third Quarter Results News provided by Share this article Share this article SALINAS, Calif., Jan. 20, 2021 /PRNewswire/ -- Scheid Vineyards Inc. (dba Scheid Family Wines) (OTC Markets: SVIN) announced today its financial results for the nine months ended November 30, 2020 (3 rd quarter of Fiscal 2021). Financial Results - Third Quarter Results Fiscal 2021 (March 1, 2020 – November 30, 2020) Nine Months Ended November 30, 2020 4,765 (5,109) (amounts in thousands, except per share data) Mr. Mike Thomsen, Chief Financial Officer of the Company, commented on the third quarter results stating, "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's business including decreased on-premise and airline/cruise ship sales and California's 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 $4.4 to $12.2 million in the first nine months of fiscal 2021. Grape sales declined 56% from $1.6 million to $0.7 million. Overall, total revenues increased 26% from the previous year nine-month period and gross profit margins increased from 21% to 25%. In addition, total sales, marketing and administrative expenses decreased 8%, from $13.4 to $12.3 million. The Company's net loss decreased 49% to $3.7 million as compared to $7.2 million in the first nine months of fiscal 2020."