Sam Adams sales strong
Boston Beer's report indicates craft beer still on a roll
Nov 3, 2005 - Boston Beer reported strong third quarter beer sales on Wednesday, mirroring the ongoing popularity of craft beers. Craft sales were up 7% in 2004 and continue at the same pace in 2005, while the nation's largest brewers have struggled.
"The craft beer category has grown this year, and our Samuel Adams brands have shared in this growth," said Boston Beer founder Jim Koch. Boston Beer sales grew 9% in the third quarter.
"We believe that the category has benefited from continuing consumer trends to trading up in their beverage choices," Koch said.
In addition, Koch said Boston Beer's "Take Pride in Your Beer" advertising campaign, launched in March, may have helped.
Boston Beer reported net income for the third quarter ended Sept. 24 rose 38% to $4.2 million, or 29 cents a share, from $3 million, or 21 cents a share, last year. Net revenue rose 15.5% to $63.2 million from $54.7 million, "driven by an 11.8% increase in shipment volume and a 3.3% increase in net revenue per barrel," according to a company press release.
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