USA: Genesee Corporation Responds to Release of Confidential Income Projections
Genesee Corporation (Nasdaq: GENBB) advised investors to disregard all of the net income and pre-tax profit projections for its Genesee Brewing Company subsidiary that were referred to in an article in today's Milwaukee Journal-Sentinel. The Corporation is responding to a story that cited projections for Genesee Brewing Company that were provided in confidence to the owners of City Brewing Company in January and February to facilitate their efforts to obtain financing to acquire Genesee Brewing Company. The Corporation stated that the information that appeared in the article was taken out of context and that the income and profit projections are not meaningful, except in relation to the detailed assumptions and underlying analysis that supported them."The information reported in the Journal-Sentinel was prepared for internal use only and was not intended for public disclosure," said Mark W. Leunig, vice president and director of investor relations. "As a public company, we felt compelled to respond to avoid any misunderstanding regarding the progress we are making to improve Genesee Brewing Company's bottom line," said Mr. Leunig. "The full extent of our progress will be readily apparent in June when Genesee Corporation announces results for its fiscal year that ended last week."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-drinks gives you the widest beverage market coverage.
Paid just-drinks members have unlimited access to all our exclusive content - including 14 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Olly Wehring, editor of just-drinks
- Comment - The Appeal and Perils of Craft
- Review of the Year 2014 - Part IV: Spirits
- Cuba-US Normalisation: Bacardi, Pernod Winners?
- Sustainability in Wine - Part I
- Time is Right for Refresco Gerber Exit
- Belvédère to sell assets, streamline portfolio
- Belvedere vodka tie-up over new James Bond film
- Diageo ups focus on China with Mortlach roll-out
- Diageo rolls out Beckham's Haig Club to US
- Brown-Forman eyeing Scotch, Irish whisk(e)y entry?
- Global vodka insights - market forecasts, product innovation and consumer trends research
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- The IWSR Forecast Report - 2014-2019 Global Review
- Global Tequila Market 2014-2018
- Global market review of non-Scotch whiskies – forecasts to 2018