Tiffany. for like conference year-end for XXXX my all thank welcome, and Thanks, you us our I'd joining add call. to
are we already in into well Here XXXX. April and
think I to look forward. it's at change and year reflect only the X important also last years However, last not pause, on look then but and
acquisition sheet midst we've Today, This balance operation the mobile clearly this company year period, funded was a small path but has and for the transformation. completed space. even through the a spirits a picked COVID, XXXX, beverage a When more gone a unlocked I'm we've and is team in accomplished joined its canning I company encouraged by on capital consumer be turnaround And earlier. exciting of about packaging significant a what the with value year long this what's innovator Meanwhile, in an a it ahead. in and up asset focus growth the in has raised leading restructuring. excited to over
XXXX, we by advantage business. to reduce we of of began XXXX, active barrel ago and reduced year $X.X very sold to our I'm last inventory. prices take XXXX, business bourbon, selling over the Spirits primarily Now start for let's review at levels market. segment. with million In bourbon years in high that saw inventory, we inventory the bulk the In X so results going spirits, our substantially
XXXX. fall hindsight, was recently only less Last year, the through and bourbon and dropped we sold spirits values prices we've in because a $XXX,XXX, seen of bourbon outstanding bulk timing specifically in the lot into form, bulk
it's bulk spirits XX age in from ranges to have barrels primarily currently, X,XXX bourbon, X-plus years it of we and years. Now again, but
new much have fill. So don't we
look in operating at to Given is Spirits, to great flow. line what better performance these place a the cash activities, sales our consider accomplished and is progress metric a we've in
our goal it And all even of had get to volume. goal. if last we Spirits to do a said we was shrink As EBITDA to year, sales was would positive. unprofitable we That stretch
moving years, very unprofitable we've moving in X sales on return where in Spirits. For been states that investments investment away way, from the is and low
of $XXX,XXX. I'm improvement XXXX, of is loss a And to in of charge, we from took an before announce loss Now quarter more Tequila impairment cash out progress even in the portion basis expect of That's which had in getting this net the make we in we our segment to of year, to we're prior closer And pleased $XXX,XXX. XX% small financials, and to operating Spirits the last on it running fourth XXXX in only down year's we business. Spirit's goal. of the breaking a a call relates value this and on
in first at on to Spirits quarter through is overall an basis. the Now shipments looking last year tracking February, X-liter flat
much lower to proportion up obviously as XX% are first quarter Portland and are lower-priced spirits Gross year. the lower of the are The brands in to February by outside Portland-based brands as sales are of last Portland-based through Pacific compared Northwest. Tequila revenues our However, significantly. offset up higher and they due
So we vodka we're are more selling tequila. than
important. a what's However, is trend drawing The of I really you months. couple will on caution from assumptions longer-term
and distinctly As sell-through. from also, note shipments that it's slide different month is month, from important orders can retail to to
Eastside let's turn Now said, which business. and Craft talk our with about services the other that Distilling, is business of
printed XX.X Craft had in the substantially prior in XXXX, an that X.X total printing printing million outstanding the of year, year more our than the a digital business million year. cans were Specifically, in cans
our improved we new customers. won XXXX, processes Throughout and
and the expect up substantial Craft. schedules improvement we we see production a operating improve, each year this month, with margins saw to filled we As
volumes XX% the are first quarter X.X we last expect can of and year. preannouncing of in over XXXX first print In That's the over first fact, for million the an increase quarter. cans quarter to
processes, We expanded through improved are schedule. achieving this throughput an and higher
won cans And year, Last T- new their we back former we to customers. winning fill moved here own of customers mobile began purchase, to converted of Now make inroads printing. is most to the our that and have existing digital for these all recently, sleeves other driver decorate from just flexibility customers much customers are we West and digital incredible have over the And shrink Many nonrecyclable want all away the customers converting labels. graphics labels in with SKUs, can launching others of new Coast. offers. larger printing
are at Every company product, consumer have -- it. a beer served regional large our print Dodger we launching can a A brands logo cans And those product on new wins can places. Stadium. include RTT Recent the brands. RTD going
and seltzers. spiked Now hard these waters cover seltzers, products beer,
customers supply chain to are why component critical their hand I this, said reasons other of a think Having there over us. are we seeing
products to Driven the has you technology consumer successful beverage is everything be it the cheap in that could with the this to never get consumer. has changing So facing more important. or marketing wrap your consumer colors marketing has of in do that been rapidly cans. space, have fact away a the away by invest Packaging couple only get with for in customer. larger cans Century plastic The changed you could XXth and use printing on customers Historically, to with changing.
yourself there? in of walk build that cans, Digital marketing coming. packaging. brand it will it brands winning, their research and beer But Who's island, with code draws and And marketing is the ask see do on the you study But consumers that equity printing most end yourself [indiscernible] doing local today, quickly. who's is And creative are unrecyclable. supermarket, the your extraordinary in positioned here? are
unleashed have their We've product been packaging releases, special use change design seen strategies offering customers set and printing expand to packaging. digital with the to SKUs, seasonal digital
new We model. craft new before last in platforms space. the business build completely making off the paradigm These marketing a happen. to changes printing are have beverage is shift Digital I've seen referring that over package the I this customers itself, been that's happening was entire year the
believe, and And X for what here comment best Craft us is it. say, at to it's think is as the important this last I I
the printer best see North in quality. America. digital Craft customers the are execution, service that is in winning and customer difference We
a with we've to start easy me for it's I XXXX. state for that think emphatically, said, So also fabulous
And we number important had other note lenders and a maturity Now and beyond still yet, liquidity. in results extend payments on increase including We're there discussions changes we of Spirits key we debt. we're that and that balance have changes. payments, for to last happened outstanding it, it's the to operational there. progress year, lowered currently are sheet We to this working year's not with make Craft,
We a also are to working a That has been on compliant. remaining continue challenge NASDAQ challenge. will and be
questions save Now said, and turn over going Tiffany? I'm with back for call the to time some Tiffany. that to
