Boston Beer Follows Craft Surge
Nov 7, 2006 - The Boston Beer Company, Inc. announced today a double digit increase of 18.9% in shipments for the quarter with a net revenue of $75.9 million, an increase of 20.0% over the same period last year.
Depletions were up 15.0% for the 13-week period ended September 30, 2006 while depletions for year-to-date are up 17.0%.
Jim Koch, Chairman and Founder of the Company, said, "2006 has been an exciting year for Samuel Adams and the craft beer category. Samuel Adams is the leading brand in the craft beer category, which we believe is the fastest growing beer category in the United States." Kock added that "the continued growth of the Craft category suggests to us that consumers continue to trade up to more full-flavored, richer-tasting beers, and this trend is helped by beer retailers and wholesalers allocating more time and space to the fast growing and profitable Craft category."
According to a company statement, the increases in shipments was primarily the result of volume increases in Samuel Adams seasonal brands, the Samuel Adams Brewmaster's Collection and Samuel Adams Boston Lager. The Company posted double-digit percentage depletion increases on Samuel Adams Brewmaster's Collection and seasonal brands.
Shipments and orders in-hand suggest that core shipments for the fourth quarter 2006 could be up between 6.0% and 10.0% as compared to the same period in 2005, which was up approximately 14.0% over the fourth quarter 2004. Full year 2006 shipments are expected to be up between 15.0% and 17.0% over full year 2005.