Boston-based The Boston Beer Co. Inc. reported its first quarter 2014 net revenue totaled $183.8 million, an increase of $47.9 million or 35 percent compared with the prior-year period. The company attributes this growth to a 32 percent increase in core shipments. Net income for the first quarter was $8.3 million, an increase of $1.4 million from the first quarter of 2013, also primarily due to shipment increases that were partially offset by increased investments in advertising, promotional and selling expenses, and the impact of a favorable federal income tax settlement.

Depletions grew 34 percent from the comparable 13-week period in the prior year, primarily because of depletion increases across the Angry Orchard, Samuel Adams and Twisted Tea brands, the company reports. Core shipment volume was approximately 835,000 barrels, a 32 percent increase compared with the first quarter of 2013.