Big Rock Brewery Ltd. Announces Third Quarter Results.Business Editors CALGARY, Alberta--(BUSINESS WIRE)--Jan. 28, 200 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, TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). : BR) one of North America's leading specialty brewers, is pleased to announce its results for the 3rd quarter ended December 31st, 2001. 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 $7,519,658 this quarter from $7,283,827 in the same quarter last year, a 3% increase. In terms of volume, hectoliters sold increased to 27,670 from 26,890 the previous year, a 3% 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 $1,022,239 ($37 per hectoliter hec·to·li·ter n. Abbr. hl A metric unit of volume equal to 100 liters. Noun 1. hectoliter - a metric unit of volume or capacity equal to 100 liters hectolitre, hl ) a 29% increase over last year EBITDA at $790,099 ($29 per hectoliter). Net income for the quarter was $344,872 up 59% from the same quarter last year. The Company's long-term debt Long-Term Debt Loans and financial obligations lasting over one year. Notes: For example debts obligations such as bonds and notes which have maturities greater than one year would be considered long-term debt. facility was paid down by $461,901 during the quarter to $3,661,154 Selected financial information for the quarter is as follows:
Big Rock Brewery Ltd.
Consolidated Balance Sheet
(Canadian $)
31-Dec-01 31-Mar-01
(unaudited) (audited)
------------ -----------
Assets:
Current assets $6,442,986 $6,455,188
Capital assets 26,277,557 24,844,994
Other assets 265,082 45,619
----------- -----------
Total assets $32,985,625 $31,345,801
----------- -----------
Liabilities and
Shareholders' Equity:
Current liabilities $3,790,199 $4,475,706
Long-term debt 2,093,292 3,469,976
Future income taxes 5,022,032 4,362,400
---------- -----------
Total liabilities 10,905,523 12,308,082
---------- -----------
Shareholders' equity:
Share capital 13,126,642 11,553,637
Retained earnings 8,953,460 7,484,082
Total Shareholders' ---------- -----------
equity 22,080,102 19,037,719
---------- -----------
Total Liabilities and
Shareholders' equity $32,985,625 $31,345,801
---------- -----------
Big Rock Brewery Ltd.
Consolidated Statements of Operations & Retained Earnings
(Canadian $)
Nine Months Ended Three Months Ended
(unaudited) (unaudited)
2001 2000 2001 2000
----------- ----------- ----------- -----------
Revenue
Sales $27,244,309 $25,629,630 $7,519,658 $7,283,827
Government taxes
and commissions 7,419,734 6,956,373 2,195,684 2,024,361
----------- ----------- ----------- -----------
19,824,575 18,673,257 5,323,974 5,259,466
Cost of sales 7,825,082 7,076,181 2,078,943 1,957,901
----------- ----------- ----------- -----------
Gross profit 11,999,493 11,597,076 3,245,031 3,301,565
Expenses
Selling 6,787,718 6,610,673 1,687,531 2,090,249
General &
administrative 1,520,455 1,401,359 535,261 421,217
Interest 258,763 419,676 65,446 122,918
Amortization 971,122 960,000 331,469 330,000
----------- ----------- ----------- -----------
9,538,058 9,391,708 2,619,707 2,964,384
Income before
income taxes 2,461,435 2,205,368 625,324 337,181
----------- ----------- ----------- -----------
Current income
tax expense 282,700 45,000 84,136 15,000
Future income
tax expense 659,632 782,934 196,316 105,310
----------- ----------- ----------- -----------
942,332 827,934 280,452 120,310
Net income for
the period 1,519,103 1,377,434 344,872 216,871
Retained earnings,
beginning of
period 7,484,082 6,551,550 8,608,588 7,509,391
Redemption of
common shares (49,725) (383,032) 0 (180,310)
----------- ----------- ----------- -----------
Retained earnings,
end of period $8,953,460 $7,545,952 $8,953,460 $7,545,952
=========== =========== =========== ===========
Net income per
share $0.29 $0.30 $0.07 $0.05
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. or adjuncts. 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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