ACCOB another earnings plays beat estimates on Tuesday stock traded up 1 7/8. has a 'picture perfect' chart. Not yet overbought after a good earnings report. Last stock like this was BUD which I ended up holding for over 2 months last quarter.
GOLDEN, Colo., Feb. 9 /PRNewswire/ -- Adolph Coors Company (Nasdaq: ACCOB) today announced record net sales and higher after-tax income and earnings per share for 1998, excluding special items.
For the fiscal year ended Dec. 27, 1998, the company achieved record net sales of $1.9 billion, a 4.3 percent increase from 1997. Sales volume totaled a record 21,187,000 barrels in 1998, a 2.9 percent increase from 1997. Distributor sales to retail increased approximately 2.4 percent in 1998.
Excluding special items previously reported for 1997 and the third quarter of 1998, the company achieved 1998 after-tax income of $79.6 million, a 16.6 percent increase from $68.3 million in 1997. Basic earnings per share increased 19.0 percent to $2.19 in 1998 from $1.84 a year earlier, while diluted earnings per share were $2.12, up 17.8 percent from $1.80 per share in 1997, excluding special items.
Peter H. Coors, vice chairman and chief executive officer of Coors Brewing Company (CBC), said, "The fourth quarter wrapped up a strong year for Coors Brewing Company. We continued to grow unit volume, revenue per barrel and profitability during the year. Our 1998 results were driven primarily by domestic and export sales of Coors Light, as well as strong domestic sales of Killian's Irish Red and Zima."
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