E-Malt.com News article: 650

The USA brewer, Boston Beer Company Inc., announced on February 13 forth quarter 2002 volume, revenue and earnings. For the 13-week period ended December 28, 2002, The Boston Beer Company recorded net sales of $54.3 million, a 14.6% increase from the 4th quarter in 2001. Net revenue per barrel increased by 3.1% during the quarter, due to product mix changes and normal price increases. As reflected on the following chart, reported sales volume for the period was 322,992 barrels, an 11.6% increase from prior year.

Regarding year to date results, the company posted net sales of $215.4 million, a 15.3% increase from 2001. Net revenue per barrel increased by 4.4% during the year due to product mix changes and normal price increases. As reflected on the following chart, reported sales volume for the period was 1,286,375 barrels, a 10.4% increase from prior year.

"2002 was a very good year for our Company" reported Jim Koch, Chairman of The Boston Beer Company, Inc. "We are continuing to see double-digit volume increases due to growth from Sam Adams Light net of some low cannibalization of Samuel Adams Boston Lager and Seasonals. This growth has justified the significant investments behind Sam Adams Light. Based on the current performance we expect double-digit growth for the first half of 2003 along with earnings improvement for the full year of 2003."

The brewer said it expects to post double-digit growth the first half of 2003, along with earnings improvement for the full year.


17 February, 2003