Castle Brands Inc. (NYSE-MKT: ROX), a developer and international marketer of premium and super-premium branded spirits, today reported financial results for the quarter and year ended March 31, 2016.

Operating highlights for the fiscal year ended March 31, 2016:

• Net sales increased 25.7% to $72.2 million for fiscal 2016, as compared to $57.5 million in the prior fiscal year.
• Total gross profit increased 32.4% to $28.6 million, as compared to $21.6 million for the prior fiscal year.
• EBITDA, as adjusted, improved by 215.3% to $3.6 million, as compared to $1.1 million in fiscal 2015.
• Whiskey revenues increased 35.8% from the prior year due to continued strong performance ofJefferson's bourbons and Knappogue and Clontarf Irish whiskeys.
• Goslings Rum revenue increased 10.9% from the prior year due to strong sales in both the U.S. and international markets.
• Goslings Stormy Ginger Beer case sales increased 55.9% to approximately 1,115,000 cases from approximately 715,000 in the prior year.
• The Company increased its reserves of aged bourbon and entered into two long-term new-fill agreements to augment its supplies of aged bourbon for its Jefferson's brand.
• The Company introduced new, upgraded packaging for its Goslings rums and Knappogue Castle Irish whiskeys.

"This was an outstanding year for Castle Brands. Continued strong growth of our more profitable brands, such as Jefferson's Bourbon, Goslings Rum and our Irish Whiskeys, resulted in substantial revenue growth and even greater growth in gross profit. It also drove improved margins, decreased G&A as a percent of revenue, significantly reduced net loss and increased EBITDA, as adjusted. We expect that these growth trends and improving financial performance will continue," stated Richard J. Lampen, President and Chief Executive Officer of Castle Brands.

"Jefferson's is now one of the top five selling premium small batch bourbons, Goslings Black Seal is now one of the top ten selling premium imported rums and Goslings Stormy Ginger Beer is now the largest selling premium ginger beer in the U.S.," Mr. Lampen added.

"We used our aged bourbon reserves to support increased sales of Jefferson's and its brand extensions, such as Jefferson's Ocean Aged at Sea. We also continue to add innovative expressions to increase sales and enhance the Jefferson's brand. Our whiskey portfolio has also benefitted from additions to our Irish whiskey offerings and the initiation of a barrel program for Knappogue Castle Whiskey. We expect strong growth in whiskey sales to continue. Goslings' sponsorship of the 35th America's Cup Challenge continues to drive the visibility of Goslings rum and ginger beer," said John Glover, Chief Operating Officer of Castle Brands.

In the fourth quarter of fiscal 2016, the Company had net sales of $20.0 million, a 23.6% increase from net sales of $16.2 million in the comparable prior-year period. Net income attributable to common shareholders was $0.4 million, or $0.00 per basic and diluted share, in the fourth quarter of fiscal 2016, as compared to a loss of ($0.6) million, or ($0.00) per basic and diluted share, in the prior-year period.

EBITDA, as adjusted, for the fourth quarter of fiscal 2016 improved to $1.4 million as compared to $0.4 millionfor the comparable prior-year period.

The Company had net sales of $72.2 million for fiscal 2016, an increase of 25.7% from net sales of $57.5 million in fiscal 2015. This sales growth was driven by the overall growth of Jefferson's and Jefferson's Reserve, Clontarf Irish whiskey and Goslings Stormy Ginger Beer. Net loss attributable to common shareholders was($2.5) million, or ($0.02) per basic and diluted share, in fiscal 2016. This compares to a net loss attributable to common shareholders of ($3.8) million, or ($0.02) per basic and diluted share, in fiscal 2015.

EBITDA, as adjusted, for fiscal 2016 improved to $3.6 million as compared to $1.1 million for the prior-year.

About Castle Brands

Castle Brands is a developer and international marketer of premium and super-premium beverage alcohol brands including: Jefferson's®, Jefferson's Presidential Select™, Jefferson's Reserve® and Ocean Aged at Sea Bourbon , Jefferson's Wine Finish Collection and Jefferson's Wood Expiriments, Goslings Rum®, Knappogue Castle Whiskey®, Clontarf® Irish Whiskey, Pallini® Limoncello, Boru® Vodka and Brady's® Irish Cream. Additional information concerning the Company is available on the Company's website,www.castlebrandsinc.com.