US, WA: Redhook Ale Brewery incurs loss in the quarter to March, 31

Redhook Ale Brewery Inc. has filed its Quarterly Report for the period ended 2011-03-31, GuruFocus.com reported on May, 16.

The company reported gross sales and net income of $35.0 million and $16,000, respectively, for the three months ended March 31, 2011, compared with gross sales and net income of $29.3 million and $209,000, respectively, for the corresponding period in 2010.

Redhook Ale Brewery had no earnings per share for the first quarter of 2011 as compared with $0.01 per share on a fully diluted basis for the corresponding period of 2010. The company incurred an operating loss of $61,000 during the quarter ended March 31, 2011 compared with operating profit of $642,000 during the quarter ended March 31, 2010, primarily due to an increase in selling, general and administrative expenses for the 2011 period, partially offset by an improved gross profit for the 2011 period.

The company’s sales volume (shipments) totaled 147,900 barrels in the first quarter of 2011 as compared with 128,700 barrels in the first quarter of 2010, an increase of 14.9%.

17 May, 2011