After the close of NASDAQ market trading today the following statement was issued by Walt Klenz, Chairman and CEO of Beringer Wine Estates (Nasdaq:BERW – news): “We know of no marketplace issues which have led to the downward pricing pressure and unusually high volume of trading activity for our Company’s stock over the past two trading days. As we stated during our third quarter conference call on May 4, the overall retail market for premium wines remains robust as measured by AC Nielsen, and our volumes continue to outperform the overall market. Increases in fourth quarter revenue for our Company continued at levels similar to our performance for the first 9 months. Additionally, we remain comfortable with the analyst consensus forecast of our earnings as published in First Call for the fourth quarter ending June 30 of $0.59 per share.” Beringer Wine Estates will publish its fourth quarter and full fiscal year earnings report on August 3, and the Company will discuss the quarter, full year and fiscal 2001 outlook in detail during its conference call on that day.

Subscribe to Just Drinks

Join over 80,000 beverage industry professionals by unlocking full access for just $1 (plus VAT if applicable)

Already a Member? LOGIN HERE

Just Drinks membership gives you:

  • Unlimited access to Just Drinks content including in-depth analysis, exclusive blogs, industry executive interviews and management briefings
  • Unbeatable market coverage from wine and beer, to soft drinks
  • Unrivalled apparel industry comment from Olly Wehring, Andy Morton and leading industry analysts
Want multi-user access? Explore our multi-user & corporate memberships

70% of the beverage companies in the Forbes Global 2000 use Just Drinks