National Beverage Corp. announces 9-month results
Sales adversely affected by harsh winter, CEO says
National Beverage Corp., manufacturer of beverage brands including LaCroix, Everfresh, Shasta and Rip It based in Ft. Lauderdale, Fla., reported financial results for the nine months ending Jan. 25. The winter weather’s impact on production and delivery resulted in performance declines in the term, according to the company’s Chairman and Chief Executive Officer Nick A. Caporella.
“This phenomenal winter, with temperatures and conditions not witnessed in over 50 years, created several first-time circumstances for us at National Beverage Corp.,” Caporella said in a statement.
Raw material arrival delays and finished goods delivery delays hampered performance, resulting in approximately $476.8 million in sales for the timeframe, which is a 3.6 percent decrease compared with the prior-year period, it reported.
Net income for the period was approximately $31.7 million, with operating income at approximately $48 million.
The company also reported that a segment of its “Power + Brand” performance exceeded the prior-year period’s performance by 40 percent.
For the full year ending Jan. 25, 2014, the company garnered $644.7 million in sales, which is a 2.3 percent decrease compared with the prior-year period.
“Notwithstanding our contrite spirit, nothing that we have previously stated about our future outlook has been diminished in the slightest,” Caporella said in a statement. “A howling, icy, unprecedented winter only further confirmed our determined commitment to healthy, all-natural soft drinks, no matter what the weather happens to be.”
Caporella also alluded to an upcoming development regarding its Shasta soft drink, which will be announced soon, he said.