craft brew alliance inc (BREW) Snapshot

Craft Brew Alliance, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, For the quarter, the company announced sales of $39,381,000 compared to $41,612,000 for the same period a year ago. Operating loss was $2,817,000 compared to operating income of $1,334,000 for the same period a year ago. Loss before income taxes was $2,996,000 compared to income before income taxes of $1,173,000 for the same period a year ago. Net loss was $1,774,000 or $0.09 per basic and diluted share compared to net income of $698,000 or $0.04 per basic and diluted share for the same period a year ago. Net cash used in operating activities was $1,317,000 compared to net cash provided by operating activities of $4,607,000 for the same period a year ago. Expenditures for property, equipment and leasehold improvements were $1,902,000 compared to $1,798,000 for the same period a year ago. Adjusted LBITDA was $756,000 compared to adjusted EBITDA of $3,319,000 for the same period a year ago. The company confirmed previously issued guidance regarding its anticipated full year 2013 results, as follows: Depletion growth estimate of 7% to 11%, reflecting the continued strength of the Kona, Redhook and Omission brands and further stabilization of the Widmer Brothers brand; contract brewing revenue for 2013 at approximately half of the 2012 level as a result of the termination of the Goose Island contract brewing arrangement; gross margin rate of 28.5% to 30.5%, reflecting pressure from distribution and packaging component costs, partially offset by improved brewery productivity; and capital expenditures of approximately $11 million to $13 million, continuing its investments in capacity and efficiency improvements, quality initiatives and restaurant and retail remodeling projects.

Craft Brew Alliance, Inc., Q1 2013 Earnings Call, May 09, 2013

Craft Brew Alliance, Inc. announced that they will report Q1, 2013 results at 5:00 PM, Eastern Standard Time on May 08, 2013