matched fourth-quarter earnings estimates but said unit case volume in North America in 2001 rose at the low end of forecasts.
The soft drink giant earned $914 million, or 37 cents a share, up from $242 million, or 10 cents a share, a year earlier, including special charges. Excluding one-time items, Coke earned 38 cents a share in the fourth quarter of 2000. Revenue in the latest quarter was $4.92 billion, up 4% from $4.73 billion last year.
Coke said North American unit case volume rose 2% in 2001, while worldwide unit case volume was up 4%.
For 2002, the company expects "currency neutral earnings from underlying operations" to grow in line with its long-term expectations of 11%-12%. The expected negative impact from currencies for 2002, including the recent devaluation in Argentina, is approximately 8 cents to 10 cents a share.