Quarterly Results

12 Months Ended

Dec. 29, 2012

Quarterly Results

T. Quarterly Results (Unaudited)

The Company’s fiscal quarters are consistently determined year to year and generally consist of 13 weeks, except in those fiscal years in which there are fifty-three weeks where the last fiscal quarters then consist of 14 weeks. In management’s opinion, the following unaudited information includes all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of the information for the quarters presented. The operating results for any quarter are not necessarily indicative of results for any future quarters.

	For Quarters Ended
	December 29, 2012 (3) (13 weeks)		September 29, 2012 (13 weeks)		June 30, 2012 (13 weeks)		March 31, 2012 (13 weeks)		December 31, 2011(2) (14 weeks)		September 24, 2011 (13 weeks)		June 25, 2011(1) (13 weeks)		March 26, 2011 (13 weeks)
	(In thousands, except per share data)
Barrels sold		733		778		696		539		673		658		651		502
Net revenue	$	153,000	$	166,448	$	147,503	$	113,271	$	142,054	$	134,813	$	133,957	$	102,176
Gross profit		79,776		93,242		80,383		61,809		80,089		76,031		76,073		52,374
Operating income		26,988		33,310		23,445		11,841		25,730		26,413		44,923		6,589
Net income	$	16,873	$	20,750	$	14,351	$	7,493	$	17,785	$	16,296	$	28,019	$	3,959
Net income per share – basic	$	1.31	$	1.60	$	1.11	$	0.59	$	1.41	$	1.26	$	2.12	$	0.30
Net income per share – diluted	$	1.25	$	1.53	$	1.06	$	0.56	$	1.33	$	1.19	$	2.01	$	0.28

(1) During the second quarter of 2011, the Company entered into a settlement agreement with its former glass supplier. The Company received a cash payment of $20.5 million which was recorded as an offset to operating expenses.

(2) During the fourth quarter of 2011, the Company recorded a $2.1 million decrease in its tax liabilities as a result of a state tax audit settlement and a $1.5 million decrease in its liability for refundable deposits for lost kegs and pallets.

(3) During the fourth quarter of 2012, the Company recorded $3.5 million of promotional expenses as contra revenue which had previously been included in Advertising, promotional and selling expenses.