E-Malt.com News article: USA: Boston Beer Co’s first-quarter profit jumps 89%

Boston Beer Co.'s first-quarter profit jumped 89 percent as the brewer raised prices and shipped more beer, the maker of Samuel Adams brews said on May, 2.

The company, based in Boston, kept its full-year outlook intact over the possible impact of higher fuel prices.

Boston Beer said it earned $7.5 million, or 56 cents per share, for the quarter that ended March 31. That's up from $4 million, or 28 cents per share, in the same quarter last year.

Revenue rose 10 percent to $122.9 million.

Analysts polled by FactSet had anticipated the company would earn 42 cents per share on revenue of $112.8 million.

The company said some of its newer products such as seasonal beer Samuel Adams Alpine Spring and its Twisted Tea rollout were well received by consumers during the quarter. It also benefited from a roughly 3 percent hike in prices for the quarter. Its revenue gains, however, were partially offset by increased advertising, promotional and selling expenses.

The company still expects to earn $3.80 to $4.20 per share for the year; analysts are expecting $4.53 per share.

Boston Beer said it is concerned about the pressure that fuel prices could put on freight costs, packaging and operating costs but believes it is too early in the year to assess how that will affect its financial performance.

04 May, 2012