Samuel Adams sales, profits soar

Boston Beer Co., brewer of the Samuel Adams beers as well as other products, reported fiscal first-quarter profit more than tripled due to greater sales and higher prices.

Boston Beer said it sold nearly 400,000 barrels of its beverages, or 22% more than what it sold in the prior-year period.

Not all of that was beer, but by comparison only two other craft breweries in the country – Sierra Nevada Brewing and New Belgium Brewing – produced as in all of 2006 as Boston Beer made in the first quarter.

Martin Roper, Boston Beer Company President and CEO, predicted a good year, but not necessarily as robust as the first quarter.

“Looking forward, we remain confident that our full-year depletions growth will be in the low double digits just below last year’s depletions growth performance,” he said. “While we believe as the leading craft brand that we are well positioned in the better beer category, we anticipate increased competition this summer and matching first quarter depletions and shipment growth trends for the full year could be challenging.”