CBA Reports Strong Qtr. 1
Craft Brewers Alliance reported net sales of $38.5 million, an increase of $6.2 million, or 19 percent, to $38.5 million compared with the same quarter of 2011
Non-contract shipment growth was up 10% and depletion growth was 8% for the quarter.
"The first quarter of 2012 continued to demonstrate the success of our investments in our innovative portfolio of beers and our marketing and sales capabilities, resulting in top-line growth and positive net income. We remain dedicated to being true to our customers through delivery of the most diverse portfolio of high quality craft beers and brands in the industry, which provide unique beer experiences for multiple occasions," said Terry Michaelson, CBA's CEO. "We are committed to delivering long-term profit growth for our shareholders by continuing to invest in the underlying strengths of our brands and strategy. We are encouraged by our first quarter results and look forward to building on that success for the full year."
Total shipments for the quarter ended March 31, 2012 were 169,900 barrels, an increase of 22,000 barrels, or 15 percent, from 147,900 barrels for the same quarter of 2011, primarily reflecting the increase in shipments to wholesalers and growth in contract brewing business.