E-Malt.com News article: USA, MA: Boston Beer Company’s income increased by 37 percent in Q2 2013

Second-quarter net income increased by 37 percent at the Boston Beer Company Inc. as it shipped more of its Samuel Adams beer and other beverages. The company has ramped up its marketing efforts and is benefiting from increased sales, prompting the brewer to lift its outlook for the full year, Bloomberg Business Week reported on July, 31.

The company has increased the investments in advertising and local marketing. During the quarter barrel shipments rose 17 percent to 842,000.

Boston Beer Company Inc. earned $19.7 million, or $1.45 per share, for the quarter that ended on June, 29. That was up from $14.4 million, or $1.06 per share, during the quarter that ended June 30, 2012.

Revenue rose 23 percent to $181.3 million, from $147.5 million a year ago, after excise taxes were paid. Regarding the launch of its Samuel Adams Boston Lager and Summer Ale in cans in May, the company said sales are "generally in line with our expectations."

Boston Beer now expects full-year earnings to range between $5.10 and $5.40 per share, compared with a previous estimate of $4.70 to $5.10. Analysts were expecting $4.90 per share, on average.

Shares had fallen $1.47 to close the regular session at $178.98 before the results were released. They jumped $17.02, or 9.5 percent, to $196 in late trading after the report. The stock hit a 52-week high of $182.99 on Tuesday, July 30.


02 August, 2013