Coors posts 58.4% sales increase in 3Q.

The Adolph Coors Company said last week that strong summer beer sales led to third-quarter income of $21.8 million, up 58.4 percent from the same period a year earlier.

Basic earnings per share for the quarter that ended Sept. 26 were 59 cents, up 57.6 percent from 25 cents per share a year earlier. Diluted earnings per share were 58 cents, a 58.6 percent increase from the 24 cents per share reported a year earlier.

Net sales for the third quarter were $544 million, up 8.2 percent from the $499.4 million recorded in 1999.

"The third quarter capped a very positive summer selling season for Coors," said Peter Coors, vice chairman and CEO of Coors. "Given the importance of the summer to our annual results, we are. pleased to achieve substantial growth in both top-line and bottom-line performance." Coors sold 5.7 million bbls of beer in 3Q, a 3.3% increase over the 5.5 million bbls. sold during the same period a year ago.