USA: MBC Holding Company Announces Strong Second Quarter Results
MBC Holding Company (Nasdaq Small Cap Market symbol: MBRW) (formerly known as Minnesota Brewing Company) today announced results of operations for the second quarter of 2000, which resulted a 300 percent increase in earnings-per-share and a 96.4 percent increase in net sales for the quarter compared to last year.Net sales for its second quarter ended June 30, 2000, were $8,508,739, an increase of 96.4% from net sales of $4,332,550 in the second quarter of 1999. For six month period ending on June 30, 2000 the Company had net sales of $13,943,239, which is an increase of 82.8% from net sales of $7,627,692 for the same period in 1999. The Company reported net income of $513,770 or $0.12 per share in the 2000 second quarter compared to net income of $131,410 or $0.04 per share for the same period in 1999. Net income for the six month period ending on June 30, 2000 was $588,408 or $.13 per share versus a net loss of $260,302 or ($.07) per share for the same period of the prior year."I am extremely pleased with the strength of our 2nd quarter numbers," said Jack Lee, Chief Executive Officer for MBC Holding Company. "We saw strong growth in export sales, expanded contract brewing operations and enhanced cost cutting measures that are the result of agreements with Gopher State Ethanol. The combination of these factors produced these results."
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 15 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
- Are Coca-Cola, A-B InBev at a FIFA Crossroads?
- Focus - The Risks of Acquisitions
- Interview - Illva Saronno CEO Augusto Reina
- Comment - Scotch's Battle with Age
- SABMiller & Meantime: Notes for the New Owner
- Roust takes on Bushmills distribution in Russia
- Brown-Forman completes Kentucky acquisition
- Diageo silent on United Spirits inspection
- Diageo creates USL unit to oversee own brands
- Pernod Ricard to up focus on consumers - CEO
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Africa: The Final Frontier for Beer
- Global Scotch whisky insights - market forecasts, product innovation and consumer trends research
- Global rum insights - market forecasts, product innovation and consumer trends research
- Diageo plc (DGE) - Financial and Strategic SWOT Analysis Review