To All:
Had not seen the numbers posted on this site...maybe everyone saw them already, but in case not, here they are...
DENVER, Nov. 6 /PRNewswire/ -- Cable Car Beverage Corporation
(Nasdaq: DRNK) reported sales of $14,597,468 for the nine-months ended
September 30, 1996 which represented an increase of 52% over sales for the first nine months of 1995. Sales for the quarter ended September 30, 1996 were up 32% to $5,664,924 over sales for the quarter ended September 30, 1995.
Net income grew 34% to $1,048,522 for the nine-months ended September
30, 1996 as compared with net income of $780,547 for the nine-months
ended September 30, 1995. Net income for the quarter ended September 30, 1996 also increased by 25% to $445,115 over 1995 third quarter net income of $355,763. The Company's net income for the nine-months ended September 30, 1996 reflects an income tax rate of 38% as compared with an income tax rate of 21% for the nine-months ended September 30, 1995.
Earnings per share increased to $.12 for the nine-months ended September 30, 1996 compared to $.09 per share for the nine-months ended September 30, 1995. Earnings per share also improved for the three-months ended September 30, 1996 to $.05 from $.04 for the three-months ended September 30, 1995. The weighted average common and common equivalent shares outstanding for the nine months ended September 30, 1996 and 1995 were 9,066,057 and 8,928,463 respectively.
Samuel Simpson, Chairman and CEO, commented, "Overall we are very pleased with the Company's performance for the first nine months. Sales of Stewart's, our flagship brand, have grown steadily throughout the year. And, although temperatures were cooler than normal in many of our selling markets this summer, most of our distributors continued to experience impressive sales gains."
Cable Car Beverage Corporation is a beverage marketing company located in Denver, CO. The Company's primary brand is Stewart's, a line of super-premium soft drinks. The Company also markets Java Cola, Fountain Classics Seltzer, San Francisco Seltzer, and ASPEN Spring Water and flavored waters.
Cable Car Beverage Corporation and Subsidiaries
Condensed Consolidated Statement Operations
(Unaudited)
THREE-MONTHS ENDED NINE-MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
1996 1995 1996 1995
Sales $5,664,924 $4,286,294 $14,597,468 $9,628,768
Cost of goods sold 4,085,908 3,226,095 10,549,749 7,103,425
Gross profit 1,579,016 1,060,199 4,047,719 2,525,343
Operating expenses 831,838 723,864 2,354,382 1,685,313
Income from operations 747,178 336,335 1,693,337 840,030
Other income expense,
net 11,584 (838,655) 31,249 (811,854)
Income (loss) before
income taxes 758,762 (502,320) 1,724,586 28,176
Provision (benefit) for
income taxes 313,647 (858,083) 676,064 (752,371)
Net income $445,115 $355,763 $1,048,522 $780,547
Net income per share $.05 $.04 $.12 $.09
Weighted average
common and common
equivalent shares 9,268,101 9,059,421 9,066,057 8,928,463 |
