Company Website:
http://www.nationalbeverage.com
FORT LAUDERDALE, Fla. -- (Business Wire)
National Beverage Corp. (NASDAQ:FIZZ) today reported results for the
second quarter of Fiscal 2014.
For the second quarter ended October 26, 2013 vs. October 27, 2012:
-
Sales increased to $168 million
-
Net income increased to $12.5 million
-
Earnings per share increased to $.27
For the twelve months ended October 26, 2013:
“The two most unique traits of this company are: Innovation/Creative at
its ‘Mast’ and Resiliency in its ‘Keel’! The Perfect Storm that
occurred in our first quarter,composed of consumer rebellion,
Big Cola’s erratic pricing and weather, created circumstances that
nearly exhausted Team National’s resilience! This company thrives when
challenged and this second quarter reflects those efforts,” stated Nick
A. Caporella, Chairman and Chief Executive Officer.
“The soft drink industry is awash in 'Wanna Be' replacements for a
shrinking sugary carbonated soft drink marketplace. The Giants in the
carbonated business mix and match their ‘flat’ water products in an
attempt to recapture the loss of their cola sales. Kinda like
compromising Americans by changing the words, tempo and colors of the
song – ‘America’! Consumers are brand loyal and very smart. They
want the efficacy of time-tested brands like Shasta or LaCroix sparkling
water. Just adding a tad of flavor, ‘gassing-it-up’ and calling it
sparkling water begs the same wrath as changing the words of ‘America’.
. .bah humbug!” chided Caporella.
“Saying we are ‘thrilled’ for our shareholders; reading text messages
and emails full of delight in appreciation of their company’s
performance throughout calendar year 2013 . . . is indeed heartfelt! Yes
it is . . . To conserve space in this release, I will write a
shareholder letter over the next ten days going into detail relative to
the Power + Brand segment that continues to provide results as witnessed
within this release. Further contained in this letter, we will ‘outlook’
assets that heretofore were thought only revenue and profit generators!
Today, some investors are weighing their potential value when placed in
a larger, more mature, distribution system,” Caporella stated.
“Hope the sparkling joy of our refreshments, the contentment of our
loyal shareholders and the goodwill of our devout Team National stirs up
within you – the Tingling Warm Spirit of a Yuletide Blessing!”
Caporella concluded with a smile.
National Beverage’s iconic brands are the genuine essence . . . of
America.
“Patriotism” – If Only We Could Bottle It!
Fun, Flavor and Vitality . . . the National Beverage Way
National Beverage Corp. |
Consolidated Results for the Periods Ended |
October 26, 2013 and October 27, 2012 |
|
(in thousands, except per share amounts) |
|
| | |
| Three Months Ended |
|
|
|
|
|
|
|
|
|
|
| Period Ended October 26, 2013 |
| | | | October 26, |
| October 27, | | | | | | | | | | | | Six |
| Twelve |
| | | | 2013 | | 2012 | | | | | | | | | | | | Months | | Months |
| | | | | | | | | | | | | | | | | | | |
|
Net Sales | | | $ | 167,666 | | $ | 166,568 | | | | | | | | | | | | $ | 340,019 | | $ | 652,609 |
| | | | | | | | | | | | | | | | | | | |
|
Net Income | | | $ | 12,497 | | $ | 12,017 | | | | | | | | | | | | $ | 24,567 | | $ | 45,078 |
| | | | | | | | | | | | | | | | | | | |
|
EBITDA* | | | | | | | | | | | | | | | | | | | $ | 79,281 |
| | | | | | | | | | | | | | | | | | | |
|
Net Income Per Share | | | | | | | | | | | | | | | | | | |
Basic | | | $ | .27 | | $ | .26 | | | | | | | | | | | | $ | .52 | | $ | .96 |
Diluted | | | $ | .27 | | $ | .26 | | | | | | | | | | | | $ | .52 | | $ | .96 |
| | | | | | | | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | | | | | | |
|
Average Common Shares | | | | | | | | | | | | | | | | |
Outstanding | | | | | | | | | | | | | | | | | | |
Basic | |
| 46,330 | |
| 46,300 | | | | | | | | | | | |
| 46,330 | |
| 46,328 |
Diluted | |
| 46,510 | |
| 46,485 | | | | | | | | | | | |
| 46,514 | |
| 46,500 |
| | | | | | | | | | | | | | | | | | | |
|
| | | | | | | | | | | | | | | | | | | |
|
This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements of the Company to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. Such
factors include fluctuations in costs, changes in consumer
preferences and other items and risk factors described in the
Company's Securities and Exchange Commission filings. The Company
disclaims an obligation to update any such factors or to publicly
announce the results of any revisions to any forward-looking
statements contained herein to reflect future events or developments.
|
|
*Non-GAAP Financial Measures |
The Company reports its financial results in accordance with
accounting principles generally accepted in the United States
("GAAP"). Management believes, however, that certain non-GAAP
financial measures may provide users of this financial information
with additional insights into the operating performance of the
business and to also serve as widely accepted measures for
comparing operating performance with other companies. The
reconciliation of Net Income (GAAP) to EBITDA (Non-GAAP) for the
Trailing 12 Months Ended October 26, 2013 (in thousands) is as
follows: Net Income (GAAP) of $45,078 plus Depreciation and
Amortization of $11,074 plus Net Interest Expense of $683 plus
Provision for Income Taxes of $22,446 equals EBITDA (Non-GAAP) of
$79,281.
|
|
Contacts:
National Beverage Corp.
Grace Keene, 877-NBC-FIZZ
Source: National Beverage Corp.
© 2024 Canjex Publishing Ltd. All rights reserved.