- Net sales increased $3.8 million, or 10 percent, to $40.5 million compared with the third quarter of 2010
- Depletion growth for the third quarter of 2011 was nine percent
- Gross profit percentage increased 790 basis points
- Sales and marketing expense increased $2.3 million versus last year reflecting investments towards critical growth initiatives.
- Capital expenditures were $2.9 million as we continued to make strategic investments in systems and infrastructure
Craft Brewers Alliance, Inc. (“CBA”) (Nasdaq: HOOK), an independent craft brewing company, reported net sales of $40.5 million and net income of $1.2 million for the third quarter ended September 30, 2011 as compared with net sales of $36.7 million and net income of $376,000 for the same quarter a year ago. We reported $0.07 earnings per share on a fully diluted basis for the third quarter of 2011 as compared with $0.02 per share for the same quarter one year ago. Significant financial highlights for the quarter ended September 30, 2011 include: