Boston Beer Profit Rises On Shipment Growth

(RTTNews) - Boston Beer Co Inc (SAM) Wednesday reported first-quarter net earnings of $8.3 million or $0.62 per share compared with $6.9 million or $0.51 per share last year.

Net sales for the quarter were up 35% $183.8 million compared with $136 million in the prior year, on strong shipment growth.

Analysts polled by Thomson Reuters estimated earnings of $0.70 per share on revenues of $179.1 million for the quarter. Analysts' estimates typically exclude special items.

Barrel sales for the quarter increased to 838 thousand from 636 thousand a year ago.

Results were partly offset by higher advertising, promotional and selling expenses.

Looking ahead to fiscal 2014, the company continues to expect earnings of $6 to $6.40. per share, while analysts expect $6.43 per share.