CANADA: Big Rock Brewery Ltd. First Quarter 2001 Results
Big Rock Brewery Ltd., (NASDAQ: BEERF; TORONTO STOCK EXCHANGE: BR) one of North America's leading specialty brewers today announced its results for the first quarter ended June 30, 2000.Net sales for the quarter increased by 3.08% or $189,095 compared with same period last year. Net income decreased by $79,937 due primarily to an aggressive first quarter advertising initiative to maintain the company's competitive position in its Alberta home market. Earnings per share were $0.11 compared to $0.12 for the 1999 first quarter.The company continues to outperform the industry in Alberta with volume increases of 6.5%. In addition to continued growth in Alberta the company experienced very strong growth in British Columbia and Saskatchewan. In the U.S. Pacific Northwest emphasis has been placed on expanding the company's distribution network in order to better position the company and improve sales results in this region.The company purchased 26,700 shares during the quarter as part of its Normal Course Issuer bid. To date the company has purchased 410,400 shares in open market transactions. These shares have been cancelled as prescribed in the terms of the bid. The number of shares outstanding as of June 30, 2000, is 4,633,875.Founded by Ed McNally in 1985 Big Rock Brewery has become one of Canada's leading specialty regional breweries. The core brands of the company are; Traditional, Grasshopper, Warthog and Chinook ales, and Kold premium lager brewed with glacial spring water. Big Rock products are distributed in Canada from British Columbia to Ontario, and in the United States.
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