UPDATE 1-Corby Distilleries Q1 profit falls 14 pct
* Q1 EPS C$0.30 vs C$0.35 last year
* Revenue fell 11 pct to C$41.1 mln
* Declares C$0.14 a share quarterly dividend
Nov 12 (Reuters) - Corby Distilleries Ltd (CDLa.TO) (CDLb.TO) said quarterly profit fell 14 percent, hurt by softening consumer demand and the de-stocking of inventory levels by key customers.
Corby also said shipments into the Ontario market in the first quarter were hurt by the threat of labour disruption experienced in June.
The manufacturer and marketer of spirits reported net income for the first quarter of C$8.4 million ($8.04 million), or 30 Canadian cents a share, compared with C$9.8 million, or 35 Canadian cents a share, in the prior-year period.
Operating revenue fell 11 percent to C$41.1 million from C$46.1 million last year.
The company declared a quarterly dividend of 14 Canadian cents a share payable on December 15, 2009.
Corby shares were trading down 8 Canadian cents at C$15.17 Thursday afternoon on the Toronto Stock Exchange. ($1=1.045 Canadian Dollar) (Reporting by Krishna Chaithanya in Bangalore; Editing by Anil D'Silva) ((krishna.chaithanya@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: krishna.chaithanya.reuters.com@reuters.net))
