Cott swings to 1Q loss on higher costs, lower volume

NEW YORK—Cott Corp., a private-label soda maker, said Monday it swung to a first-quarter loss as costs rose and volume fell in North America.

The company reported a loss of $20.7 million, or 29 cents per share, compared with a profit of $4.8 million or 7 cents per share last year.

Analysts polled by Thomson Financial expected profit of 3 cents per share.

Revenue fell 3 percent to $389.7 million from $400.2 million last year. Analysts expected revenue of $400.2 million.

RC International and North American case volume fell during the quarter, the company said. Lower-margin bottled water products volume rose as demand for Cott's core soft-drink offerings fell.

Higher ingredient and packaging costs were partly offset by price increases.