Beam Inc., Deerfield, Ill., reported a net sales increase by 8 percent to $577.7 million, excluding excise taxes, in the first quarter of 2013, benefiting from strong commercial performance and the acquisition of Pinnacle Vodka. On a comparable basis, net sales increased 3 percent, reflecting the comparison to the quarter from the previous year when new product introductions and route-to-market transitions helped comparable net sales increase 13 percent, the company reports.
Operating income increased 37 percent in the quarter, benefiting from factors including favorable product mix and the timing of expenses, the company says. Diluted earnings per share (EPS) from continuing operations were $0.72, up 47 percent, while diluted EPS before charges/gains increased 21 percent to $0.64, it says.