Core brands show strong growth for year
Pyramid Breweries Inc. announced results for the fourth quarter and year ended December 31, 2006.
Gross sales for the quarter were $12.5 million, representing a slight increase over gross sales for the fourth quarter of 2005.
For the year, gross sales were $54.3 million, a 7% increase over the prior year
Shipments for the quarter were relatively flat at 55,700 barrels. Pyramid brand family shipments were up 8% to 39,900 barrels while other non-Pyramid beer brand shipments were down 37% to 5,100 barrels due primarily to the discontinuation of certain product styles in the MacTarnahan’s and non-core beer brands.
In the alehouse division, gross sales decreased 4% to $3.6 million. The Seattle and Berkeley alehouses contributed to the gross margin, offset by the Walnut Creek, Portland and Sacramento alehouses due to fewer guest visits.
“Our Pyramid brand family shipment volume increase of 8% for the fourth quarter compared to the fourth quarter a year ago, and our 18% shipment volume growth for all of 2006 versus last year is especially encouraging since we exceeded a very strong sales year in 2005,” stated Scott Barnum, CEO. “2006 saw continued rapid growth in the Pyramid brand, as the Company’s west coast craft beer market share reached over 8% at the end of the year, an all-time high.”