E-Malt.com News article: USA, OR: Craft Brew Alliance announces preliminary financial results for 2013

Craft Brew Alliance, Inc., an independent craft brewing company, announced on January 28 preliminary 2013 financial results and plans for continued growth in 2014 and beyond by building on the company’s successful portfolio strategy and opportunity to capture gross margin expansion, MarketWatch reported on January 28.

“For everyone who knows me, it will come as no surprise that I am candidly mixed in terms of how I feel about our financial performance last year”, said CBA Chief Executive Officer Andy Thomas. “On the one hand, I am extremely proud of the record growth in sales and brand momentum that we achieved; but on the other hand, I know we can do much better given the talent, strategy and structure we have in place.

In looking ahead, I am wholly committed to seeing us apply the same resolve and discipline towards improving our bottom line that we did to achieve our strong topline growth last year.

Additionally, with our plans to expand our brewing capability in the Southeast, along with CBA’s new leadership team, I look forward to seeing us continue to build on our successes and deliver both strong topline and bottom line growth for the full year.

Finally, I want to take a moment to thank our former CEO, Terry Michaelson, who was critical in helping establish CBA’s advantaged strategy and growth over the past several years; I am honored to step into his shoes and grateful for his continued support this year.”

“Our full-year 2014 guidance reflects our commitment to continue to drive the topline by pursuing focused growth plans that strengthen CBA’s overall craft portfolio as well as our commitment to expanding gross margin with focus on key initiatives such as SKU rationalization and our new brewing partnership,” said Chief Financial Officer Mark Moreland. “With regards to the annual guidance, we will continue to focus on full-year estimates with the understanding that quarter-to-quarter performance will exhibit volatility.”

About Craft Brew Alliance

CBA is an independent, publicly traded craft brewing company that was formed through the merger of leading Pacific Northwest craft brewers – Widmer Brothers Brewing and Redhook Ale Brewery – in 2008. With an eye toward preserving and growing one-of-a-kind craft beers and brands, CBA welcomed Kona Brewing Company in 2010, and then launched Omission beer in 2012 and Square Mile Cider Company in 2013.

When Kurt & Rob Widmer founded Widmer Brothers Brewing in 1984, they didn’t confine their brewing exploration to strict style guidelines. To this day, Widmer Brothers continues to create craft beers with a unique and unconventional twist on traditional styles. Redhook began in a Seattle transmission shop in 1981 and those colorful roots are reflected in the brand’s personality to this day. Kona Brewing was founded in 1994 by the father and son team of Cameron Healy and Spoon Khalsa, who dreamed of crafting fresh, local-island brews with spirit, passion and quality. As the largest craft brewery in Hawaii, Kona personifies the laid-back, passionate lifestyle and environmental respect of the Hawaiian people and culture. Omission beer is the first craft beer brand in the United States focused exclusively on brewing great tasting craft beers with traditional beer ingredients, including malted barley, that are specially crafted to remove gluten. Square Mile Cider was inspired by the fortitude and perseverance of the original pioneers and reinvigorates an enduringly classic beverage with its blend of apples hand-selected for the perfect balance of sweet and tart.



29 January, 2014