Trailing Twelve Months and This Exceptional First Quarter Indicate Continuing Momentum Reports National Beverage Corp.
September 09 2021 - 3:15PM
Business Wire
National Beverage Corp. (NASDAQ: FIZZ) today announced results
for its first quarter ended July 31, 2021.
First Quarter Ended July 31, 2021 vs.
First Quarter Ended August 1, 2020:
- Net sales increased to $311.7 million;
- Gross profit was $124.8 million;
- Operating income was $70.3 million or 22.6% of sales; and
- Earnings per share was $.58, up from $.55 for the prior
year.
Balance Sheet Data at July 31,
2021
- Cash was $245.5 million;
- Working capital was $269.7 million with a current ratio of 2.8
to 1.
“Considering the headwinds that we faced, our financial results
for the first quarter reflect extraordinary execution by Team
National. Although labor, raw material and transportation
availability issues impacted our ability to meet customer demand,
we were able to increase sales over last year’s pantry-loading
spike while maintaining the margins posted for our previous ‘best
ever’ quarter,” stated a company spokesperson.
We believe the following are some of the competitive advantages
that National Beverage enjoys:
- Consumer loyalty – Our Power+ brand volume grew 5.6% during a
quarter in which selling prices were adjusted to recover increased
input and transportation costs. We believe this reflects the
preference consumers have for our great-tasting beverages,
especially in light of the substantial price discounting employed
by certain competitors to promote their sparkling waters.
- Healthy Hydration – The majority of our revenues are generated
by sparkling water, juices and other ‘better-for-you’ beverages.
The pandemic has made consumers even more health-conscious, and we
believe this trend will continue for the foreseeable future.
- Innovation – The launch late last fiscal year of our unique new
LaCroix flavors of Beach Plum, Black Razzberry and Guava São Paulo
was our most successful to date. These followed a string of
successful introductions that evidence our ability to develop and
refine beverages that continuously resonate with consumers.
- Distinctiveness - The pandemic and its adaptations are
provoking the minds of everyone who use their mental capacity to
eschew risk. Our owner-entrepreneur governance model, size and
agility, plus our self-manufacturing and hybrid-distribution system
allow us to pivot expeditiously. Couple this uniqueness with our
passionate consumer seeking to satisfy an acquired taste while
pursuing unparalleled feelings.
“As the U.S. deals with uncertainty while Covid cases are
increasing, we are more determined than ever in our mission to help
make America healthy. Fiscal 2022 brings unique opportunities for
National Beverage as we continue our vow to create the best and
healthiest beverages ever produced,” the spokesperson
concluded.
LaCroix . . . Beyond Taste!
In honor of all those who guard our freedoms
throughout the world . . .
“Patriotism” – If Only We Could Bottle It!
National Beverage Corp. Consolidated Results for the
Periods Ended July 31, 2021 and August 1, 2020
(in thousands, except per
share amounts)
Three Months Ended
July 31, 2021
August 1, 2020
Net Sales
$
311,712
$
293,367
Net Income
$
53,816
$
51,164
Earnings Per Common Share Basic
$
.58
$
.55
Diluted
$
.58
$
.55
Average Common Shares Outstanding Basic
93,306
93,248
Diluted
93,574
93,508
This press release includes
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements involve risks, uncertainties and other factors described
in the Company's Securities and Exchange Commission filings which
may cause actual results or achievements to differ from the results
or achievements expressed or implied by such statements. The
Company disclaims an obligation to update or announce revisions to
any forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210909006027/en/
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