New York, Oct. 2 - Constellation Brands Inc, the world's largest wine producer, posted a quarterly net loss on Thursday versus a year-earlier profit, due to charges and inventory write-downs related to selling some Australian assets.
The owner of Robert Mondavi and Ravenswood wines said its net loss for its fiscal second quarter was $22.7 million, or 11 cents per share, compared with a net profit of $72.1 million, or 33 cents per share, a year before.
Excluding restructuring charges, acquisition-related costs and other items, the company earned a profit of 45 cents per share.
Net sales rose 7 percent to $956.5 million, helped by the recent acquisitions of premium wine brands including Clos du Bois and Wild Horse.
The company maintained its prior earnings outlook for fiscal 2009, which ends in February, saying it expects to earn $1.68 per share to $1.76 per share, excluding items.