CANADA: Brick Brewing Announces First Quarter Results
Brick Brewing Co. Limited of Waterloo, Ontario today announced its first quarter financial results for the three month period ending April 30, 2000. Net earnings for the quarter were up slightly to $34,000 compared to $31,000 the previous year while sales were $5.2 million down from $6 million the previous year. Cash generated in the quarter was $257,000 as compared to a cash decrease of $732,000 the previous year."We view the results of our first quarter as a good start to our new fiscal year which is traditionally a softer period", said Jim Brickman, Founder and President of the Company, "The changes we have made to the business now start to reflect our focus on a more profitable mix of sales rather than on volume. These improvements and other initiatives will become more evident as we progress through the year", he added.Established in 1984, The Brick Brewing Co. Limited of Waterloo, Ontario was the first craft brewery of its kind to start up in Eastern Canada in recent decades and is credited as being one of the pioneers of the present day craft beer renaissance in Canada. Brick is traded on the Toronto Stock Exchange under the symbol "BRB".
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