Traders Cooperative

[Painterguy1]

SAM missed and warned currently halted...


SAM Boston Beer Co misses by $0.21, beats on revs; guides FY07 EPS below consensus (52.35 +0.65)

Reports Q3 (Sep) earnings of $0.21 per share, $0.21 worse than the Reuters Estimates consensus of $0.42; revenues rose 15.9% year/year to $97.2 mln vs the $88.7 mln consensus. Co issues downside guidance for FY07, sees EPS of $1.40-1.65 vs. $1.71 consensus. The decrease in results was due to the provision for excise taxes, increases in cost of goods sold, selling and advertising expenses and general and administrative expenses, partially offset by increases in net revenue and a decrease in income taxes. Cost of goods sold increased by $8.6 million due primarily to volume increases, higher package material and ingredient costs and the costs of the temporary shutdown of the Cincinnati brewery for maintenance during the third quarter. Advertising, promotional and selling expenses increased by $3.0 million during the quarter as compared to the prior year, primarily due to increases in advertising and promotional costs and freight expenses to wholesalers. General and administrative costs increased by $1.2 million during the quarter as compared to the prior year, driven by salary and benefit costs... Stock is halted