Pyramid Breweries Inc. Reports Continued Sales Increases.Business Editors SEATTLE--(BUSINESS EDITORS)--April 27, 2001 Pyramid Breweries See for an up to date listing of all the breweries detailed on Wikipedia, sorted into regions. Africa
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PMID Portable Multispectral Imaging Device PMID Process Management Improvement & Deployment PMID Physical Media Id PMID Performance Metric Identifier ), today reported its tenth consecutive quarter of sales growth, with net revenues increasing 2% to $6.3 million for the first quarter ended March 31, 2001. The Beverage Division recorded a slight increase in total shipments for the first quarter to 32,100 barrels from 32,000 in the same quarter of the prior year. Thomas Kemper Thomas Kemper is a brewer of root beer, ginger ale, and other craft brewed sodas under the Thomas Kemper Soda Co. label. Formerly owned by Pyramid Breweries, Inc., it was sold in 2007 to Adventure Funds of Portland, Oregon, which is running the company under the Kemper Co. Soda soda: see sodium carbonate. SODA - Symbolic Optimum DEUCE Assembly Program shipments increased 15% to 9,800 barrels for the first quarter of 2001, while shipments of the Pyramid beer brand were down 3% to 20,900 barrels. Shipments of Pyramid's leading style, Hefeweizen, were 4% ahead of first quarter 2000 sales. During the prior year, the company discontinued dis·con·tin·ue v. dis·con·tin·ued, dis·con·tin·u·ing, dis·con·tin·ues v.tr. 1. To stop doing or providing (something); end or abandon: the Monx brand, and retrenched the Thomas Kemper beer line which recorded a shipment decline of 28% for the first quarter 2001. "While we are disappointed in the slowdown in sales of the Pyramid brand, we are encouraged by the fact that in supermarkets, Neilsen data indicates that we gained market share in five of seven markets that we track, and that overall our market share grew by half a share point (+8%) in the first quarter. Neilsen data also suggests that retail sales of Pyramid beer were stronger than our shipments to distributors for the quarter. In fact, orders in hand for the month of April are significantly ahead of prior year for Pyramid beer, Thomas Beer, Thomas, 1889–1940, American author, b. Council Bluffs, Iowa, grad. Yale, 1911, and studied law at Columbia, 1911–13. He is best remembered for his biographies of Stephen Crane (1923) and Marcus (Mark) Hanna (1929) and his witty study of American Kemper Soda and in total," said Martin Kelly, President 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. . The Alehouse Division reported a sales increase of 7% for the first quarter of 2001, with both the Seattle and Berkeley Alehouses reporting increased sales. The Seattle Alehouse also completed a capital project at the end of the first quarter, which increased seating capacity Noun 1. seating capacity - the number of people that can be seated in a vehicle or auditorium or stadium etc. commodiousness, spaciousness, capaciousness, roominess - spatial largeness and extensiveness (especially inside a building); "the capaciousness of Santa's and banquet space for this facility. The company's gross margin for the first quarter was $1.3 million, down 8% from the prior year due to increased energy costs and other brewery operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. . Energy costs were up $110,000 over the same quarter of the prior year. The margin for the Alehouse Division continued to improve, increasing 145% to $196,000 for the first quarter due to labor efficiency gains in both alehouses. Marketing expenses were $363,000 higher than for the same quarter of the prior year primarily due to the new Pyramid brand awareness campaign test, which included substantial outdoor advertising in the Seattle and Sacramento markets. The outdoor advertising test began during the fourth quarter of 2000 and was completed in the first quarter of 2001. "We have seen some positive response in awareness and market share, and we are currently evaluating the effectiveness of this spending approach," added Kelly. The net loss for the first quarter of 2001 was $726,000 compared to a net loss of $210,000 for the same quarter of the prior year. Earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
"We are mindful mind·ful adj. Attentive; heedful: always mindful of family responsibilities. See Synonyms at careful. mind of the effects on distributors, retailers and consumers of the slowdown in the economy, as well as the impact of increased energy costs on our breweries. Consequently, we will monitor our spending carefully and look for opportunities to reduce discretionary expenses. Nonetheless, we remain bullish Bullish Word used to describe an investor's attitude. Bullish refers to an optimistic outlook, while bearish means a pessimistic outlook. bullish on the craft beer and soda categories, and our ability to strengthen our competitive position within these categories. We are fully committed (Law) committed to prison for trial, in distinction from being detained for examination. See also: Fully to investing in appropriate brand building activities and our Alehouse expansion initiative," said Kelly. Pyramid Breweries Inc. is one of the leading brewers This is a list of member brewers of the Brewers Association. Numbered
 This page is protected from moves until disputes have been resolved on the .The reason for its protection is listed on the protection policy page. , and Berkeley, California Berkeley is a city on the east shore of San Francisco Bay in Northern California, in the United States. Its neighbors to the south are the cities of Oakland and Emeryville. To the north is the city of Albany and the unincorporated community of Kensington. . For more information, visit www.PyramidBrew.com. Statements concerning future performance, developments or events, concerning potential sales, restaurant expansion, production capacity, and any other guidance on future periods, constitute forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. which are subject to a number of risks and uncertainties which are described in the company's filings with the Securities and Exchange Commission, press releases and other communications. Actual events and results may differ materially from stated expectations.
Pyramid Breweries Inc.
Selected Unaudited Financial Data
Statements of Operations
Three Months Ended March
31,
% of % of
2001 Net Sales 2000 Net Sales
Gross sales $6,577,820 $6,522,932
Less excise taxes 277,806 355,445
Net sales 6,300,014 100.0% 6,167,487 100.0%
Cost of sales 4,957,557 78.7% 4,708,733 76.3%
Gross margin 1,342,457 21.3% 1,458,754 23.7%
Selling, general and
administrative
expenses 2,170,121 34.4% 1,761,026 28.6%
Operating loss (827,664) (13.1%) (302,272) (4.9%)
Other income, net 101,226 1.6% 92,421 1.5%
Loss before income
taxes (726,438) (11.5%) (209,851) (3.4%)
Benefit for income
taxes - 0.0% - 0.0%
Net loss $(726,438) (11.5%) $(209,851) (3.4%)
Net loss per share ($0.09) ($0.03)
Weighted average
shares outstanding 7,867,888 8,148,709
Beer barrels shipped 22,300 23,500
Soda barrels shipped 9,800 8,500
Total barrels shipped 32,100 32,000
Pyramid Breweries Inc.
Selected Unaudited Financial Data
Condensed Balance Sheets
March 31, December 31,
2001 2000
Current assets:
Cash and cash equivalents $ 5,582,622 $ 6,444,145
Other current assets 3,699,680 3,872,048
Fixed assets, net 20,873,315 21,125,892
Other non-current assets 651,554 667,618
Total Assets 30,807,171 32,109,703
Current liabilities 2,549,383 2,885,479
Non-current liabilities 1,341,079 1,247,639
Total liabilities 3,890,462 4,133,118
Total stockholders' equity 26,916,709 27,976,585
Total liabilities and
stockholders' equity $30,807,171 $32,109,703
Pyramid Breweries Inc.
Selected Unaudited Financial Data
Condensed Cash Flow Data
Quarters Ended March 31,
2001 2000
Net loss $ (726,438) $ (209,851)
Adjustments to reconcile net loss
to net cash (used in) provided by
operating activities --
Depreciation and amortization 587,391 634,193
Gain on sales of fixed assets - (1,000)
Deferred rent 93,440 55,917
Changes in operating assets and
liabilities (264,545) (418,394)
Net cash (used in) provided by operating
activities (310,152) 60,865
Net cash used in investing activities (247,352) (226,219)
Net cash used in financing activities (304,019) (806,177)
Decrease in cash and cash equivalents $ (861,523) $ (971,531)
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