Pyramid Posts 16% Volume Jump
Nov 29, 2006 - Pyramid Breweries Inc. announced gross sales for the third quarter ended September 30, 2006 were $15.8 million, representing a 10% increase over gross sales for the third quarter of 2005.
This growth resulted primarily from increased shipment volume of 16% in the core Pyramid brand family, comprised mainly of Hefe Weizen and Apricot Weizen beers.
"Our Pyramid brand family volume increase of 16% for the third quarter compared to the third quarter a year ago, and 21% volume growth year-to-date over the last year is especially encouraging since we exceeded a very strong year in 2005," stated Scott Barnum, CEO.
Other non-core beer brand shipments were down 20% to 8,800 barrels. The brewery has eliminated a number of underperforming product styles in the past year, primarily relating to the MacTarnahan's line and non-core beer brands, which accounted for over 1,100 barrels in the third quarter of 2005, or 56% of the non-core brand shipment decrease. Soda shipments increased 11% to 14,700 barrels.
In the company's alehouse division, gross margin increased 33% to $407,000 and gross sales decreased 1% to $4.1 million. The Seattle and Walnut Creek alehouses contributed to the increase in gross margin offset by declines at the Berkeley, Portland and Sacramento alehouses due to fewer guest visits.