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|Investor Relations Contact:||Media Contact:|
|Jennifer Larson||Jessica Paar|
|(617) 368-5152||(617) 368-5060|
BOSTON BEER REPORTS
FOURTH QUARTER 2015 RESULTS
BOSTON, MA (2/18/16) The Boston Beer Company, Inc. (NYSE: SAM) reported fourth quarter 2015 net revenue of $215.1 million, a decrease of $2.7 million or 1% from the same period last year, mainly due to a decline in core shipments of 3%, partially offset by price increases. Net income for the fourth quarter was $16.1 million, or $1.21 per diluted share, a decrease of $3.0 million or $0.19 per diluted share from the fourth quarter of 2014. This decrease was primarily due to the decrease in net revenue and increases in advertising, promotional and selling expenses that were only partially offset by increased gross margin.
Earnings per diluted share for the 52-week period ended December 26, 2015 were $7.25, an increase of $0.56, or 8%, from the comparable 52-week period in 2014. Net revenue for the 52-week period ended December 26, 2015 was $959.9 million, an increase of $56.9 million, or 6%, from the comparable 52-week period in 2014.
Highlights of this release include:
|||Depletions decreased 3% from the comparable 13-week period in 2014.|
|||Depletions increased 4% from the comparable 52-week period in 2014.|
|||Gross margin for the fourth quarter was 50.6% and the full year 2015 was 52.3%.|
|||Advertising, promotional and selling expenses in the quarter increased $5.3 million or 9% compared to the fourth quarter of 2014 and increased $22.9 million or 9% for the full year 2015, primarily due to planned increased investments behind the Companys brands.|
|||Full year 2015 capital spending totaled $74.2 million, most of which relates to continued investments in the Companys breweries.|
|||The 2016 fiscal year includes 53 weeks compared to the 2015 fiscal year which included only 52 weeks.|
|||Full year 2016 percentage growth in depletions and shipments over 2015 is currently estimated to be in the mid-single digits.|
|||Full year 2016 earnings per diluted share are estimated to be between $7.60 and $8.00.|
|||Full-year 2016 capital spending is now estimated to be between $60 million and $80 million, a decrease in the range from the previously communicated estimate of $70 million to $90 million.|
The following information was filed by Boston Beer Co Inc (SAM) on Thursday, February 18, 2016 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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