The Boston Beer Co. Inc., Boston, reported fourth quarter 2018 net revenue of $225.2 million, an increase of $18.9 million or 9.2 percent from the fourth quarter of 2017, mainly due to an increase in shipments of 6.3 percent.
Net income for the fourth quarter was $21.8 million, or $1.86 per diluted share, a decrease of $8.7 million or $0.71 per diluted share from the fourth quarter of 2017. This decrease was primarily due to a fourth quarter 2017 favorable one-time tax benefit of $1.72 per diluted share related to the Tax Cuts and Jobs Act of 2017. Operating income for the fourth quarter was $28.8 million, an increase of $14 million or 94 percent, primarily due to increases in net revenue and decreased advertising, promotional and selling expenses, partially offset by lower gross margins.