FREDERICK, Md., Oct. 19 /PRNewswire/ -- Frederick Brewing Co.
(Nasdaq: BLUE) announced today that the Company's third quarter, ended
September 30, 1998, saw increased sales and distribution.
Frederick Brewing Co. (FBC) gross revenues for the third quarter, ending
September 30, 1998, were approximately $1.6 million on shipments of 9,233
barrels. These sales represent a revenue gain of 59% and a barrellage increase
of 61% over the same period last year. Revenues for the first three quarters
of 1998 were approximately $4.2 million on 23,800 barrels shipped, up 90%, on
a barrellage increase of 94% over the previous year.
"While September was our most successful month in Company history," said
Patrick Helsel, Frederick Brewing Co. vice president of sales, "the third
quarter is typically one of the slowest. We're anticipating excellent sales
for the fourth quarter, as we're introducing our winter seasonals -- a great
lineup of immensely popular, award-winning beers."
Frederick Brewing Co. recently increased chain store authorizations in New
York, New Jersey, Illinois, and Connecticut to include more than 1,000 stores,
which will positively affect fourth quarter sales. While not available in all
stores at all times, FBC products have been authorized for distribution in
Connecticut Food Emporium stores; New Jersey chain stores including A&P,
ShopRite and Spirits Unlimited, and Illinois chain accounts Cardinal Liquors,
Consumers Liquors, Gold Eagle Liquors, Gold Standard Liquors, Famous Liquors,
Treasure Island Liquors, Affiliated Liquors, United Liquors and Miska Liquors.
New York chain accounts now include A&P, Food Emporium, Food City, D'Agostino,
Gristede/Red Apple/Sloans, Waldbaums, ShopRite, Associated stores, Empire Beer
Distributors, Riese Restaurants and -- just in time for the World Series --
Yankee Stadium.
Beginning in October, Hempen Ale(TM), Hempen Gold(TM), Wild Goose(R) IPA
and Wild Goose(R) Amber will be distributed in more than 300 new chain
accounts throughout Westchester county, Staten Island, Queens, Brooklyn, the
Bronx and Long Island by Craft Brewers Guild and Arizona Beverage, Inc.,
distributors of Arizona Ice Tea products and the specialty beer, Mississippi
Mud.
The Company also expanded distribution into Canada. As of October, Hempen
Gold is available in more than 150 retail outlets throughout Toronto, Ottawa,
London and other major cities in Ontario, Canada. Over 9,000 cases were
shipped to Canada during the third quarter. Another 4,000 cases are expected
to leave the brewery before the end of October for a total shipment of 13,860
cases.
"We're confident that this increased distribution will assist us in
reaching fourth quarter sales goals," said Frederick Brewing Co. President
Marjorie McGinnis. "We expect to open additional chain accounts, including
Pathmark and King Kullen supermarkets, and Beverage Busters and Beverage Barn,
(Long Island distributor groups) in the fourth quarter."
Complete third quarter results will be reported on November 5, 1998.
Except for historical information, this press release contains
forward-looking statements that involve risks and uncertainties including, but
not limited to, quarterly fluctuations in results, the actual management of
growth, competition and other risks detailed in the Company's SEC filings.
Actual results may differ materially from such information set forth herein.
SOURCE Frederick Brewing Co.
Web Site: fredbrew.com |
