Primo Water Reports Q1 Sales Results

For the first quarter ended March 31, Primo Water Corp. has announced that total net sales increased 12.8% to $22.3 million compared to $19.8 million in the 2012 period.

Dispenser segment sales for the first quarter increased 53.7% to $7.4 million compared to $4.8 million in the 2012 time frame. Dispenser unit sales to retailers increased by 19.1% for the first quarter compared to the same period in the prior year. The dispenser unit sales to consumers increased 11.6% for the first quarter compared to the same period in the prior year.

Water segment net sales were essentially flat at $14.9 million for the first quarter compared to the prior year. According to Primo, the first quarter is a seasonally slower period for water sales, and the company believes first quarter 2013 sales were also negatively impacted by unfavorable weather. Sales in the water segment consist of sales of multi-gallon purified bottled water, or Exchange operations, and self-serve filtered drinking water vending services, or Refill. Water sales were impacted by a 4% decline in Refill sales, primarily due to lower empty bottles sales and unfavorable weather conditions. The decrease in Refill sales was offset by an increase of 2.1% in Exchange sales driven by same-store unit growth of 12.1% for U.S. Exchange services compared to the first quarter of 2012. 


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