Earnings are out today:
-- Cable Car Beverage Corporation (Nasdaq:
DRNK) reported today its financial results for the year ended December 31,
1996. Revenue increased 47% to $18,873,000 for the year ended December 31,
1996 versus $12,844,000 for the year ended December 31, 1995. The company's
net income increased 42% to $1,257,000 or $.14 per share versus net income of
$883,000 or $.10 per share for the comparable twelve month period ended
December 31, 1995.
The company also reported a 104% increase in net income to $209,000 or $.02
per share for the quarter ended December 31, 1996 versus net income of
$102,000 or $.01 per share for the quarter ended December 31, 1995. Revenue
for the quarter ended December 31, 1996 was up 33% to $4,275,000 versus
revenue of $3,215,000 for the quarter ended December 31, 1995.
Weighted average shares of common stock and common stock equivalents were
9,255,479 and 8,915,666 for the twelve month periods ended December 31, 1996
and December 31, 1995, respectively. Weighted average shares of common stock
and common stock equivalents were 9,440,576 and 8,984,616 for the three month
periods ended December 31, 1996 and December 31, 1995, respectively.
These results are subject to completion of the company's annual audit which
is anticipated to be concluded later this week. The company does not anticipate any changes as a result of the audit and will not issue a further press release unless material changes arise. Samuel Simpson, Chairman and CEO, commented, "Overall, we are very pleased
with our operating results for fiscal 1996. Our core brand, Stewart's,
continues to grow both in new markets and in mature markets. Sales gains in
mature markets were primarily due to increased sales through grocery store and
convenience store channels. Another factor which contributed to growth was
our introduction of two new Stewart's flavors last summer. We also opened up
several new markets during 1996 with the Stewart's brand."
4th Quar Dec. 31:
1996 1995
Revenues $4,275,000 $3,215,000
Net income 209,000 102,000
Avg shrs 9,440,576 8,984,616
Shr earns
Net income .02 .01
Year:
Revenues 18,873,000 12,844,000
Net income 1,257,000 883,000
Avg shrs 9,225,479 8,915,666
Shr earns
Net income .14 .10
Cable Car Beverage Corp. (DRNK) is a beverage marketing company.
In my opinion, these are very solid results: Strong revenue growth, good net margins, and postitive comments.
ezrider
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