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Food & Beverage

Boston Beer Company Second Quarter Net Income Jumps 48 Percent

August 05, 2010
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The Boston Beer Company, Inc., said second quarter net income rose 36 percent as sales and shipments rose, according to the Associated Press. The brewer of Samuel Adams beer said net income for the quarter ended June 30 was $16.3 million, or $1.13 per share, up from $11.9 million, or 83 cents per share, the same period last year. The results beat analysts’ expectations of $1.10 a share according to a survey by Thomson Reuters. The company raised its profit expectations for 2010 to between $2.85 to $3.15, up from its previous estimate of $2.35 and $2.65 per share. Revenue was $129.6 million for the quarter, up 10 percent from the same period last year, mainly due to increases in core products shipment volume.

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