The maker of Sam Adams beer earned $7.5 million, or 52 cents per share, in the three months that ended Dec. 26.
(John Tlumacki/ Globe Staff/ File 2009)
Around the Region
Boston Beer profit soars in quarter
The maker of Sam Adams beer earned $7.5 million, or 52 cents per share, in the three months that ended Dec. 26.
(John Tlumacki/ Globe Staff/ File 2009)
Boston Beer Co.’s fourth-quarter profit more than doubled as it shipped out more beer and its profit margin grew and write-downs fell, the company said yesterday after the market closed.
The maker of Sam Adams beer earned $7.5 million, or 52 cents per share, in the three months that ended Dec. 26. That compares with $3.6 million, or 25 cents per share, a year earlier.
The latest results fell short of the 58-cent-per-share average prediction from analysts polled by Thomson Reuters.
The brewer’s fourth-quarter revenue rose 3 percent to $107.2 million from $103.8 million year earlier. Analysts had expected $110.8 million.
Also yesterday, Boston Beer forecast it will earn between $2.35 and $2.65 per share in 2010. Wall Street predicts $2.47 per share.
For the full fiscal year, the company’s profit nearly quadrupled to $31.1 million, or $2.17 per share, from $8.1 million, or 56 cents per share, the year before. Yearly revenue rose 4 percent to $415.1 million from $398.4 million.
Boston Beer plans to introduce a new Noble Pils this spring.
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