Company reports income gain after loss last year
Craft Brewers Alliance Inc. reported net income of $94,000 which compares with a loss of $1.2 million a year earlier.
The company, formed with the merger of Redhook Ale Brewery and Widmer Brothers Brewing Co. in July 2008, reported gross sales rose slightly to $33.9 million from $33.5 million in 2008.
Reporting on the latest quarter’s profit, company officials said it was “due to an improved margin for the 2009 period and a reduction in selling, general and administrative expenses and merger-related expenses.”
CBA brews, markets and sells Redhook-branded and Widmer-branded products in four breweries, including one in Woodinville, Wash., one in Portsmouth, N.H., and two in Portland.