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Earnings highlights: Blackstone, Caterpillar, Kroger, WellPoint, Boston Beer, and others

Here are a few highlights from this past week's earnings coverage from BloggingStocks:

Continue reading Earnings highlights: Blackstone, Caterpillar, Kroger, WellPoint, Boston Beer, and others

Boston Beer profit more than doubles; Take-Two posts narrower-than-estimated loss

The most recent quarter was good for Boston Beer Co. Inc. (NYSE: SAM), which reported that its fourth-quarter profit more than doubled, and not too bad for Take-Two Interactive Software Inc. (NASDAQ: TTWO), which posted a narrower-than-expected loss for the first quarter.

For the quarter that ended December 29, Boston Beer's net income jumped to $6.8 million, or 46 cents per share, from $2.5 million, or 17 cents per share, in the prior year quarter. Revenue rose 26% to $92.2 million from the same period of 2006. Analysts polled by Thomson Financial had expected earnings of 35 cents per share on revenue of $88.9 million.

The company credited its performance to drinkers trading up to craft beers, as well as increasing retailer and wholesale support for the craft category and for Samuel Adams. The company noted that its Twisted Tea brand also performed well in the quarter.

For the full year, profit grew 24% from a year ago, to $22.5 million, or $1.53 per share, while revenue grew 20% to $341.6 million.

Boston Beer shares rose $2.02, or 6%, to close at $35.81, and continued to rise in after-hours trading.

Continue reading Boston Beer profit more than doubles; Take-Two posts narrower-than-estimated loss

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DJIA+30.6910,464.40
NASDAQ+6.872,176.05
S&P 500+4.981,110.63

Last updated: November 27, 2009: 03:48 AM

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