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ADOLPH COORS REPORTS IMPROVED SECOND QUARTER RESULTS

 GOLDEN, Colo., July 8 /PRNewswire/ -- Adolph Coors Co. (NASDAQ: ACCOB), today announced higher net sales and higher income from continuing operations for the second quarter of 1993.
 For the 12-week fiscal quarter ended June 13, 1993, the company reported net sales of $412.9 million, up from $408.7 million a year earlier. The company also reported second quarter income from continuing operations of $18.9 million, or $0.50 per share, up from income of $14.9 million, or $0.40 per share, from continuing operations a year earlier.
 A portion of this increase was attributable to an increase in sales volume and a modest increase in beer prices for the company's single subsidiary, Coors Brewing Co. (CBC). Last month, the company announced that sales for CBC increased 0.9 percent, from 5,065,000 barrels sold in the second quarter of 1992 to 5,113,000 barrels sold during the same period this year. Average price increases for the quarter were approximately 1.3 percent per barrel. CBC also achieved improved margins resulting from lower packaging costs and improved production efficiencies in the second quarter.
 Peter H. Coors, vice chairman and chief executive officer of Coors Brewing Co., said, "We are pleased with our success in growing volume and improving financial performance in the second quarter. Sales of our innovative new beverage, Zima Clearmalt, along with increased consumer demand for Coors Light and Killian's Irish Red, contributed to our improved quarterly results."
 Coors Brewing Co. President and Chief Operating Officer W. Leo Kiely III said, "Although beer market trends and the company's financial results improved during the second quarter, the second half of the year will be extremely challenging for us. A significant litigation reserve taken in the first half of 1992 was substantially matched by increased marketing expenses related to the expansion of Zima in the second quarter of this year. We expect continued spending in support of Zima, as well as continued price discounting and promotion in support of our beer brands throughout the summer months."
 Kiely also stated that the company's annual performance will be affected by a planned reduction in distributor inventories by year end. "In order to ensure product availability for our peak selling season, our shipments have outpaced distributor removals during the first half of the year," he noted. "We have planned for a reduction in distributor inventories in response to seasonal consumer demand.
 "While we anticipated a challenging year in 1993, we are very optimistic about the long-term prospects of the company," Kiely emphasized. "We are completely committed to our goal of improved profitability," he concluded, "and we are taking steps to achieve improved results in the future."
 On Dec. 27, 1992, Adolph Coors Co. distributed to its shareholders the common stock of ACX Technologies Inc. (NASDAQ: ACXT), the holding company for several diversified technology businesses. Results of ACX Technologies for the second quarter of 1992 are reported as discontinued operations. Including discontinued operations, Adolph Coors Co. reported net income of $18.3 million, or $0.49 per share, for the second quarter of 1992.
 Adolph Coors Co., founded in 1873, is the holding company for a single subsidiary, Coors Brewing Co., the third-largest brewer in the United States. Coors uses only the finest ingredients available in an all-natural brewing process to offer consumers a wide range of high- quality malt beverages. This dedication to quality has allowed Coors Brewing Co. to outpace the industry in volume growth rate for eight consecutive years.
 ADOLPH COORS CO. AND SUBSIDIARIES
 Summary of Operations
 (In thousands, except per share data)
 12 Weeks Ended 24 Weeks Ended
 June 13, June 14, June 13, June 14,
 1993 1992 1993 1992
 Barrels sold 5,113 5,065 8,855 8,661
 Sales $506,634 $502,312 $872,010 $854,979
 Less: beer excise
 taxes 93,766 93,598 163,159 160,425
 Net sales 412,868 408,714 708,851 694,554
 Costs and expenses:
 Cost of goods sold 257,539 262,212 456,444 451,992
 Marketing, general
 and administrative 115,803 116,749 198,550 207,552
 Research and project
 development 2,833 3,060 5,435 6,141
 Operating income 36,693 26,693 48,422 28,869
 Other (income)
 expense, net (228) 379 (324) 216
 Interest expense, net 3,132 3,576 6,602 6,609
 Income before
 income taxes 33,789 22,738 42,144 22,044
 Income tax expense 14,900 7,800 18,600 7,700
 Income from continuing
 operations 18,889 14,938 23,544 14,344
 Net income (loss) from
 discontinued operations --- 3,324 --- (8,777)
 Income before cumulative
 effect of change in
 accounting principle 18,889 18,262 23,544 5,567
 Cumulative effect of
 change in accounting
 for post-retirement
 benefits (net of taxes) --- --- --- (38,800)
 Cumulative effect of
 change in accounting
 for income taxes --- --- --- 30,500
 Net income (loss) $18,889 $18,262 $23,544 ($2,733)
 Net income (loss)
 per share of
 common stock:
 Income from continuing
 operations $0.50 $0.40 $0.62 $0.38
 Net income (loss)
 from discontinued
 operations 0.00 0.09 0.00 (0.23)
 Income before cumulative
 effect of change
 in accounting principle 0.50 0.49 0.62 0.15
 Cumulative effect of
 change in accounting
 for post-retirement
 benefits 0.00 0.00 0.00 (1.03)
 Cumulative effect of
 change in accounting
 for income taxes 0.00 0.00 0.00 0.81
 Net income (loss)
 per share of
 common stock $0.50 $0.49 $0.62 ($0.07)
 Weighted average
 number of shares
 outstanding 37,870,851 37,507,459 37,809,821 37,503,704
 Cash dividends
 declared per share
 of common stock $0.125 $0.125 $0.250 $0.250
 -0- 7/8/93
 /CONTACT: Willis Lyford or Becky Winning of Adolph Coors Co., 303-277-2555 or 800-525-3786/
 (ACCOB)


CO: Adolph Coors Co. ST: Colorado IN: FOD SU: ERN

JL-LS -- LA012 -- 9310 07/08/93 07:56 EDT
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Date:Jul 8, 1993
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