Pyramid Breweries Inc. Reports Second Consecutive Year of Increased Sales; Company Also Records Earnings Improvement.Business Editors SEATTLE--(BUSINESS WIRE)--Feb. 8, 2001 Pyramid pyramid, structure pyramid. The true pyramid exists only in Egypt, though the term has also been applied to similar structures in other countries. Egyptian pyramids are square in plan and their triangular sides, which directly face the points of the Breweries See for an up to date listing of all the breweries detailed on Wikipedia, sorted into regions. Africa
Asia
PMID Portable Multispectral Imaging Device PMID Process Management Improvement & Deployment PMID Physical Media Id PMID Performance Metric Identifier ), today reported its second consecutive year of sales growth, with net revenues increasing by 6% to $28.6 million for 2000. In addition, for the first time since 1996, the company reported net income for the year. Net income for 2000 was $33,000, which represents a $616,000 improvement over the net loss for 1999 of $583,000 (adjusted for non-recurring charges of $3.8 million in 1999). Earnings before interest, taxes, depreciation, amortization and non-recurring charges increased 14% to $2.5 million for 2000. The improvement in earnings was due to higher sales 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 Kemper may refer to:
"I am very pleased to be able to report to our shareholders this substantial progress after my first full year of service as the company's 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. ," said Martin Kelly Kel·ly , Ellsworth Born 1923. American abstract painter and sculptor whose works are characterized by flat color areas with sharply defined edges. Kelly, Emmett 1898-1979. . "Our results reflect the impact of the strategic changes we made in the fourth quarter of 1999, improving trends in the craft beer and soda categories, as well as the exceptional efforts of our employees." The beverage division recorded a 7% increase in total shipments and strong performances on both core brands. Shipments of the flagship This article is about the lead ship, store, or product of a group. For other uses, see Flagship (disambiguation). A flagship is the ship used by the commanding officer of a group of naval ships. Pyramid beer brand were up 6% to 101,900 barrels for 2000, and 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 shipments increased by 30% to 38,400 barrels. During the 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 31%. Total shipments of all beer and soda brands increased 7% to 148,300 barrels for 2000, the highest level in company history. The alehouse division reported a sales increase of 7% for 2000, with both the Seattle Seattle (sēăt`əl), city (1990 pop. 516,259), seat of King co., W Wash., built on seven hills, between Elliott Bay of Puget Sound and Lake Washington; inc. 1869. and Berkeley Berkeley (bûr`klē), city (1990 pop. 102,724), Alameda co., W Calif., on the E shore of San Francisco Bay just N of Oakland; inc. 1878. Originally (1820) part of a Spanish rancho, the site was purchased by Americans in 1853. alehouses reporting increased sales. "We made significant improvements in labor and food cost management in the alehouse division, which are important developments to our alehouse business model as we continue to lay groundwork to expand this division to new operating locations," said Mr. Kelly. The company's gross margin for 2000 was $7.6 million, up 15% over the prior year due to increased revenues and greater operating efficiencies. As a percent of sales, gross margins increased to 26.5%, from the 24.3% recorded in 1999. Labor costs in Pyramid's breweries declined approximately ap·prox·i·mate adj. 1. Almost exact or correct: the approximate time of the accident. 2. 9% while total hours worked declined approximately 13% for 2000. These reductions in labor costs and hours worked were made while total shipments for the year increased 7%. Cash provided by operating activities increased to $2.5 million, or $0.32 per share, for 2000, compared to $1.9 million or $0.23 per share for 1999. "Pyramid's financial position is exceptionally strong. Our cash balance remained constant at about $6.4 million from 1999 to 2000, about $0.81 per share, even though we paid $1.3 million in dividends to our shareholders, repurchased $774,000 of our common stock, and invested $808,000 in equipment and property upgrades and replacements," commented Wayne Wayne, city (1990 pop. 19,899), Wayne co., SE Mich., a suburb of Detroit, on the Lower Rouge River; inc. as a village 1869, and with surrounding areas as a city 1960. It has automobile and aircraft industries and other varied manufactures. Drury Drury can refer to several things:
For Pyramid's fourth quarter, net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight increased 3% to $6.8 million compared to $6.6 million for the same quarter of 1999. Total beverage shipments increased 4%, representing the ninth consecutive quarterly increase for Pyramid. Both core brands showed increases for the quarter, with Pyramid beer shipments reaching 26,400 barrels, a 7% increase. Thomas Kemper soda shipments of 8,100 barrels represented a 9% increase for the fourth quarter. Sales in the craft beer industry generally reflect seasonality, with the first and fourth quarters historically being the slowest and the rest of the year typically demonstrating stronger sales. Gross margin for the fourth quarter increased 6% to $1.7 million, increasing faster than sales due to greater efficiencies. Marketing expenses were $460,000 higher than for the same quarter of the prior year primarily due to the development and initiation initiation, the transition and attendant ceremonies, such as ordeals and rites, involved in passing from one state or status to another, often from childhood to adulthood. It was among the most important social institutions of early humans. of a new Pyramid brand awareness campaign which includes substantial outdoor advertising in the Seattle and Sacramento Sacramento, city, United States Sacramento (săkrəmĕn`tō), city (1990 pop. 369,365), state capital and seat of Sacramento co., central Calif. markets. The new outdoor advertising program will run through the first part of 2001. The net loss for the fourth quarter of 2000 was $565,000 compared to a net loss of $4.0 million for the same quarter of the prior year. The net loss for the fourth quarter of 1999 included non-recurring charges of $3.8 million. Adjusted to exclude these non-recurring charges, the net loss for the fourth quarter of 1999 was $260,000. The increase in the net loss for 2000 of $305,000 over the adjusted net loss for 1999 was primarily due to the increase in marketing costs. "We are very excited about the potential of the new marketing program. The company is in a strong position and we have elected e·lect v. e·lect·ed, e·lect·ing, e·lects v.tr. 1. To select by vote for an office or for membership. 2. To pick out; select: elect an art course. to invest in brand building to further the sales and shipments momentum gained earlier in the year. The intent is to see further sales growth in future periods as a result of this new marketing program," said Martin Kelly. Pyramid Breweries Inc. is one of the leading brewers This is a list of member brewers of the Brewers Association. Numbered
A specialty is a written document that has been sealed and delivered and is given as security for the payment of a specifically indicated debt. , full-flavored beers and sodas SODAS - [D.L. Parnas & J.A. Darringer. Proc FJCC 31:449-474, AFIPS (Fall 1967)]. , produced under the Pyramid and Thomas Kemper brand names. Pyramid also operates two local breweries and restaurants, under the Pyramid Alehouse name, in Seattle, Washington  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 & Exchange Commission, press releases and other communications. Actual events and results may differ materially from stated expectations.
Pyramid Breweries Inc.
Selected Audited Financial Data
Statements of Income
Three months ended December 31,
------------------------------------------------
% of % of
2000 Net Sales 1999 Net Sales
------------------------------------------------
Gross sales $ 7,178,537 $ 7,033,885
Less excise taxes 396,695 416,046
------------------------------------------------
Net sales 6,781,842 100.0 6,617,839 100.0
Cost of sales 5,127,490 75.6 5,057,866 76.4
------------------------------------------------
Gross margin 1,654,352 24.4 1,559,973 23.6
Selling, general and
administrative
expense 2,334,291 34.4 2,403,616 36.3
Impairment charge -- -- 3,287,822 49.7
------------------------------------------------
Operating loss (679,939) (10.0) (4,131,465) (62.4)
Other income, net 114,522 1.7 103,888 1.5
------------------------------------------------
Loss before
income tax (565,417) (8.3) (4,027,577) (60.9)
Income tax benefit -- -- -- --
------------------------------------------------
Net loss $ (565,417) (8.3) $(4,027,577) (60.9)
================================================
Basic and diluted
net loss per share $ (0.07) $ (0.49)
========== ==========
Weighted average
basic shares
outstanding 7,856,626 8,230,161
========== ==========
Weighted average
diluted shares
outstanding 7,956,604 8,230,161
========== ==========
Beer barrels
shipped 28,200 27,000
Soda barrels
shipped 8,100 7,400
---------- ----------
Total barrels
shipped 36,300 34,400
========== ==========
Twelve months ended December 31,
---------------------------------------------------
% of % of
2000 Net Sales 1999 Net Sales
---------------------------------------------------
Gross sales $ 30,274,695 $ 28,810,887
Less excise taxes 1,704,283 1,734,780
---------------------------------------------------
Net sales 28,570,412 100.0 27,076,107 100.0
Cost of sales 21,011,543 73.5 20,484,886 75.7
---------------------------------------------------
Gross margin 7,558,869 26.5 6,591,221 24.3
Selling, general
and administrative
expense 8,111,640 28.4 8,148,180 30.1
Impairment charge -- -- 3,287,822 12.1
---------------------------------------------------
Operating loss (552,771) (1.9) (4,844,781) (17.9)
Other income, net 585,682 2.0 494,234 1.8
---------------------------------------------------
Income (loss)
before income tax 32,911 0.1 (4,350,547) 16.1)
Income tax benefit -- -- -- --
---------------------------------------------------
Net income (loss) $ 32,911 0.1 $ (4,350,547) (16.1)
===================================================
Basic and diluted
net income (loss)
per share $ 0.00 $ (0.53)
========== =============
Weighted average
basic shares
outstanding 7,939,980 8,230,522
========== =============
Weighted average
diluted shares
outstanding 7,962,421 8,230,522
========== =============
Beer barrels
shipped 109,900 108,400
Soda barrels
shipped 38,400 29,600
---------- -------------
Total barrels
shipped 148,300 138,000
========== =============
Pyramid Breweries Inc.
Selected Audited Financial Data
Condensed Balance Sheets
December 31, December 31,
2000 1999
------------------------------------
Current assets
Cash and cash equivalents $ 6,444,145 $ 6,303,540
Other current assets 3,872,048 3,391,025
Fixed assets, net 21,125,892 22,739,439
Other non-current assets 667,618 1,275,596
------------------------------------
Total assets $ 32,109,703 $ 33,709,600
====================================
Current liabilities $ 2,885,479 $ 2,835,523
Non-current liabilities 1,247,639 1,022,677
------------------------------------
Total liabilities 4,133,118 3,858,200
Total stockholders' equity 27,976,585 29,851,400
------------------------------------
Total liabilities and
stockholders' equity $ 32,109,703 $ 33,709,600
====================================
Pyramid Breweries Inc.
Selected Audited Financial Data
Condensed Cash Flow Data
Twelve months ended December 31,
--------------------------------
2000 1999
--------------------------------
Net income (loss) $ 32,911 $(4,350,547)
Depreciation and amortization 2,469,549 2,783,679
Loss on sales of fixed assets 85,150 22,497
Deferred income taxes 453,483 --
Deferred rent 224,962 240,432
Impairment charge -- 3,218,584
Changes in operating
assets and liabilities (737,561) (42,238)
----------- -----------
Net cash provided by
operating activities 2,528,494 1,872,407
Net cash used in
investing activities (464,958) (759,819)
Net cash used in
financing activities (1,922,931) (54,182)
----------- -----------
Increase in cash
and cash equivalents $ 140,605 $ 1,058,406
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