Company ends year with 17% volume increase
The Boston Beer Company, Inc. achieved fourth quarter 2006 net revenue of $73.3 million, an increase of 13% over fourth quarter 2005. The increase was driven by a 12% increase in shipment volume and a 1.0% increase in net revenue per barrel as compared to the same quarter last year.
Jim Koch, Chairman and Founder of the Company, commented, “We are excited with the 18% depletions growth achieved in the fourth quarter, which contributed to 17% growth for the full year 2006 and we believe that we gained share of both the better beer and the craft beer categories during 2006. Craft beer is benefiting from increased support from retailers and wholesalers, as they recognize the potential of this fast growing and profitable category. I am optimistic about craft beer trends and believe that, as the leading craft brewer, the Company should be able to benefit from them in 2007. I am delighted to find more beer drinkers sharing my passion for great full flavored beer. I believe that the quality of the Samuel Adams brand and our unique beers position us well to meet this growing drinker interest.”
Core shipment volume for the period was approximately 0.4 million barrels, a 12% increase from the same period in 2005. In the fourth quarter of 2006, total company depletions grew 18%.
Core shipment volume for the fiscal year ended December 30, 2006, was 1.6 million barrels, a 17% increase over 2005. Fiscal year 2006 distributor sales of the Boston Beer brands to retail (depletions) increased by approximately 17% over the 2005 fiscal year.