Glacier Water, a US-based producer of vended water, has registered 3.7% growth in revenue to $103.79m for the year ended 1 January 2012, compared to $100.05m in the prior year.

The company’s sales increased backed by rise in installation of higher number of vending units and rise in same-store demand.

Operational income was $3,430,000 in fiscal 2011 against $7,643,000 in the same period in 2010.

The company added additional funds to boost growth, including hiring of more number of people in sales, marketing and product development divisions.

Glacier Water raised $20m, with $10m from the sale of 500,000 shares of common stock and $10m from the sale of $12.5m in principal amount of 9.0625% subordinated debt due in 2028.

The company will use the funds to repay $10m term loan, with the balance paid against the company’s revolving line-of-credit debt, and the revolving facility will be available for its future use.

Glacier Water chief executive officer Brian McInerney said the company’s revenues increased 3.7% over the prior year and same-store revenues have increased 1.8% year-over-year.

"We continued to aggressively expand our network of machines across the U.S. and Canada adding approximately 1,400 machines across multiple retail channels," McInerney said.

"The 2011 income from operations was $3,430,000 and was impacted by an investment in infrastructure to support our continued growth in water vending locations that are on the front-end of the revenue growth curve, and the launch of premium ice machines.

"Operating income was also impacted by $1,159,000 in costs associated with the Company’s efforts to file for an initial public offering during 2011, which was withdrawn on October 17, 2011 due to unfavorable market conditions.

"At the end of the fiscal year 2011, Glacier operated approximately 20,500 machines located at retailers across the U.S. and Canada, providing high quality, great tasting drinking water and premium ice."

Glacier has 20,500 machines located in 42 states throughout the US and Canada.