National Beverage Corp. (NASDAQ:FIZZ) today released financial results –
For the fiscal year ended April 30, 2011:
- Sales increased to $600 million.
- Net income increased 24% to $40.8 million, or $.88 per share.
- EBITDA* increased to $74 million from $63.6 million.
For the fourth quarter, net sales grew to $152.1 million and net income increased 20% to $11.1 million, or $.24 per share.
“Steadfast in our goal to provide ‘value’ to our consumers, we are extremely proud to deliver significant earnings growth, particularly in light of the challenging U.S. economy. Notwithstanding the fact that the modest sales increase for FY 2011 did not meet our targeted organic growth plan, Team National’s diligence in the execution of our Margin Management strategies continued to deliver, even during a period of softness within the U.S. carbonated soft drink market,” stated Nick A. Caporella, Chairman and Chief Executive Officer.“Tomorrow’s refreshment beverages will all be judged on functionality and efficacy. Team National is keenly aware of its commitment to be innovative and creative in the development of these beverages . . . for certain,” he continued. “At this writing, two-thirds into our first quarter of FY 2012, we continue to ‘track’ the strategy that rewards our consumers and investors alike . . . a company that is committed to creating ‘value’, whether in a package or in the investors’ portfolio,” concluded Caporella. National Beverage is highly innovative as a pace-setter in the changing soft-drink industry, featuring refreshment products that are geared toward the lifestyle/health-conscious consumer. Shasta® – Faygo® – Everfresh® and LaCroix® are aligned with Rip It® energy products to make National Beverage . . . America’s Flavor•Favorite – soft-drink company. Fun, Flavor and Vitality . . . the National Beverage Way While extremely proud of our company and these results . . . Team National would also like to share ‘feelings’ relative to the True Grit of our heritage . . . see attached. “How does a seasoned, mature, businessman, CEO . . . express jubilance over delivering the best earnings ever, while his company’s common stock is reflecting those earnings – after giving his shareholders the largest cash dividend ever . . . and not allow the dilemma of the current political and economic climate to severely affect that jubilance?” queried Nick A. Caporella, Chairman and Chief Executive Officer, overheard speaking to a group last evening. “ Team National is thrilled to have delivered these results, considering the challenges of the past year . . . but what about that soldier in Afghanistan who nearly died that knows his family is terrorized by threats of not getting a much needed paycheck or the millions of fixed income people who are threatened by lack of payment? How can we be proud of that?” Caporella went on. “This past June 19 th, I celebrated 52 years in business and 35 of those as a public company CEO. Since 9-11, it is quite common to hear the words ‘terror’ or ‘terrorists’, but as an extremely proud American . . . I never thought I would listen to Americans threaten and terrorize other Americans. Awful . . .” “My wish is that we could celebrate our great performance and continue doing so in a better climate . . . where the mood was to live the American Dream in this great land of opportunity . . . when millions before us came with a gleam in their eye, anxious to be free and have the opportunity afforded by the greatest English word ever defined by Webster – A M E R I C A!” concluded Caporella.
|National Beverage Corp.|
|Consolidated Results for the Fourth Quarter and Fiscal Year Ended|
|April 30, 2011 and May 1, 2010|
|(in thousands, except per share amounts)|
|Fourth Quarter Ended||Fiscal Year Ended|
|April 30,||May 1,||April 30,||May 1,|
|Net Income Per Share|
|Average Common Shares|
|*Reconciliation of Net Income (GAAP) to EBITDA (Non-GAAP)|
|The Company reports its financial results in acccordance with accounting principles generally accepted in the United States ("GAAP"). Management believes, however, that certain non-GAAP financial measures, such as EBITDA, may provide users of this financial information with additional insights into the operating performance of the business and to also serve as a widely accepted measure for comparing operating performance with other companies with different capital structures.|
|Fiscal Year Ended|
|April 30,||May 1,|
|Net Income (GAAP)||$||40,754||$||32,853|
|Depreciation and Amortization||11,356||12,350|
|Interest (Income) Expense - Net||(41||)||(109||)|
|Provision for Income Taxes||21,896||18,532|
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