Big Rock Brewery Ltd. Announces First Quarter Results.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--July 23, 2002 Big Rock Brewery The Big Rock BreweryTSX: BR is located in Calgary, Alberta, Canada. The brewery was founded in 1985 by Ed McNally. After forming the Big Rock brewing company he hired Bernd "Peppy" Pieper, considered to be one of the best brewmasters in the world. Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : BEERF, TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : BR) one of North America's leading specialty brewers This is a list of member brewers of the Brewers Association. Numbered
Gross sales Gross Sales A measure of overall sales that isn't adjusted for customer discounts or returns, calculated simply by adding all sales invoices, and not including operating expenses, cost of goods sold, payment of taxes, or any other charge. revenue increased to $10,333,625 this quarter from $9,204,986 in the same quarter last year, a 12% increase. Volume sold during the quarter increased to 40,697 hectoliters from 33,725 hectoliters the previous year, a 21% increase. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become for the quarter was $1,597,864 a 39% increase over last year EBITDA at $1,152,003. Net income for the quarter was $801,686 up 72% from $464,970 last year. Selected financial information for the quarter is as follows:
big Rock Brewery Ltd.
Consolidated Balance Sheet
(Canadian $)
30-Jun-02 31-Mar-02
(unaudited) (audited)
----------- ---------
Assets:
Current assets $7,207,837 $6,492,345
Capital assets 26,212,653 25,872,488
Other assets 693,129 695,858
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Total assets $34,113,619 $33,060,691
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Liabilities and Shareholders' Equity:
Current liabilities $5,863,504 $5,357,882
Long-term debt 1,044,044 1,502,275
Future income taxes 4,444,771 4,416,400
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Total liabilities 11,352,319 11,276,557
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Shareholders' equity:
Share capital 13,307,471 13,131,991
Retained earnings 9,453,829 8,652,143
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Total Shareholders' equity 22,761,300 21,784,134
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Total Liabilities and Shareholders'
equity $34,113,619 $33,060,691
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big Rock Brewery Ltd.
Consolidated Statements of Operations
(Canadian $)
Three Months Ended June 30
2002 2001
---- ----
(unaudited)
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Revenue:
Sales $10,333,625 $9,204,986
Government taxes and commissions 2,470,616 2,504,617
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7,863,009 6,700,369
Cost of sales 3,211,058 2,719,134
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Gross Profit 4,651,951 3,981,235
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Expenses:
Selling 2,404,880 2,307,818
General & administrative 649,207 521,414
Interest 30,522 92,247
Amortization 360,350 300,000
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3,444,959 3,221,479
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Income before income taxes 1,206,992 759,756
Current income tax expense 376,935 88,436
Future income tax expense 28,371 206,350
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405,306 294,786
Net income for period $801,686 $464,970
--------- ---------
Net income per share $0.15 $0.09
Big Rock is a regional producer and marketer of specialty draught and packaged beer located in Calgary, Alberta, Canada. Big Rock is dedicated to the brewing of premium beers using only water, hops, yeast yeast, name applied specifically to a certain group of microscopic fungi and to commercial products consisting of masses of dried yeast cells or of yeast mixed with a starchy material and pressed into yeast cakes. , and various combinations of malted barley barley, annual cereal plant (Hordeum vulgare and sometimes other species) of the family Gramineae (grass family), cultivated by humans probably as early as any cereal. and malted wheat. Big Rock products contain no preservatives preservatives, n.pl food additives that hinder spoilage by reducing the growth of microorganisms. Include nitrates and nitrites, benzoates and sulfites, and many others. . Rather than using pasteurization pasteurization (păs'ch  rĭzā`shən, -rīzā`shən), partial sterilization of liquids such as milk, orange juice, wine, and beer, as well as cheese, to destroy ,
which affects the flavour (jargon) flavour - (US: flavor) 1. Variety, type, kind. "DDT commands come in two flavors." "These lights come in two flavors, big red ones and small green ones." See vanilla.2. The attribute that causes something to be flavourful. of the beer, all product is packaged after cold sterile filtration. Big Rock was established in 1985 by founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Ed McNally. |
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