Boston Beer's profit: something to toast

Boston Beer Co.’s fourth-quarter profit more than doubled: It sold more beer by the barrel, and consumers increasingly chose its Samuel Adams brews.

Net income jumped to $6.8 million, or 46 cents per share. Analysts polled by Thomson Financial had expected just 35 cents per share.

The gain came despite a 21 percent rise in the cost of goods. Brewers have all been hit hard by higher prices for barley, hops, and malt — key ingredients.

Boston Beer also said it sold about 20 percent more barrels in the quarter.

And drinkers are trading up to craft beers like Samuel Adams, the company said.
(AP)