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Boston beer declares results for the quarter, 23 percent increase in sales

by Tom Carlson | Sunday, Apr 1, 2012 |
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Warning: mysqli_query(): (HY000/1194): Table 'wp_options' is marked as crashed and should be repaired in /home/usastock/public_html/wp-includes/wp-db.php on line 1942
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Boston beer declared its results for the quarter ended December 2011. The company has reported a 23 percent increase in its bottom line as shipment of beer to various other regions has helped the company. Net income for the October-through-December period was $17.8 million, or $1.33 per share, up from $12.2 million, or 87 cents per diluted share, in the fourth quarter of 2010. The company benefitted from an income tax settlement that added 16 cents per share to the bottom line. Revenue was $142.1 million, up from $115.7 million. Boston Beer said the increase was due mostly to increased shipments, with some help from “minor” price hikes. The results surpassed the expectations of the analysts.

The company sells the famous Samuel Adams beer in over 50 different taste and styles. Commenting on the results Chairman and founder Jim Koch stated that “While it is too early to judge repeat purchase, we believe they will help us start 2012 strong and our challenge will be maintaining this momentum,”. He also believes that over the period that company is well positioned to be a leading beer across the Atlantic and this could provide the traction for the company over future earnings.

For the full year, net income was $66.1 million, or $4.81 per share, up from $50.2 million, or $3.52 per share. Revenue rose 11 percent to $513 million from $463.8 million. Boston Beer shares jumped $4.37, or 4.4 percent, to $104.58 during the regular trading session. We maintain a buy on the counter due to the strong fundamentals of the stock. Investors can look at holding the stock for a period of around five to six months.


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