Boston Beer 4Q profit jumps 9 percent
Fourth-quarter net income rose to $2.5 million, or 17 cents per share, from $2.3 million, or 16 cents per share, in the year-ago quarter.
Analysts polled by Thomson Financial predicted profit of 17 cents per share.
Boston Beer revenue increased 13 percent, to $73.3 million from $64.8 million, due to a 12 percent boost in shipment volume.
Boston Beer Chief Financial Officer Bill Urich said fourth-quarter gross margin fell to 56 percent from 57.7 percent last year, due to increased supply chain costs. Urich added that cost pressures are expected to continue into 2007.
Full-year earnings increased 17 percent to $18.2 million, or $1.27 per share, from $15.6 million, or $1.07 per share, in the prior year.
Sales increased 20 percent to $285.4 million from $238.3 million a year before.
Boston Beer shares dropped 34 cents to close at $33.26 on the New York Stock Exchange.