National Beverage beats by $0.18, misses on revs
- Reports Q3 (Jan) earnings of $0.88 per share, $0.18 better than the single analyst estimate of $0.70; revenues rose 16.9% year/year to $227.5 mln vs the $232.06 mln two analyst estimate.
- Despite severe weather conditions which temporarily disrupted deliveries in certain markets, our third quarter top-line and bottom-line growth again led the industry," stated Chairman and CEO Nick A Caporella. "The third quarter marked our 15th consecutive quarter of year-over-year earnings growth, and the 11th consecutive quarter of double-digit earnings growth. While we are compelled by regulations to record a one-time adjustment to previous deferred tax liabilities by $4.3 million, and adjust prior year-to-date income tax to the estimated effective tax rate for the full year resulting in a $7 million reduction in tax expense; after these adjustments the third quarter produced after-tax earnings of $41.1 million or earnings per share of $.88."