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Castle Brands Shares Higher After Q4 Sales Growth

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Castle Brands Inc (NYSE: ROX) shares are trading higher after the company reported better-than-expected fourth-quarter sales results.

Castle Brands reported quarterly earnings of 5 cents per share. The company reported quarterly sales of $29.89 million, which beat the analyst consensus estimate of $26.28 million.

This is a 24.1% increase over sales of $24.071 million for the same period last year.

"This was an outstanding year for Castle Brands. Continued growth of our more profitable brands, such as Jefferson's, Goslings and Knappogue Irish whiskey, resulted in continued growth in revenue and gross profit,” said CEO Richard Lampen in a statement.

Castle Brands shares were trading higher by 3.5% at 53 cents. The stock has a 52-week high of $1.42 and a 52-week low of 45 cents.

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