XML 50 R44.htm IDEA: XBRL DOCUMENT v2.4.0.6
Quarterly Results (Tables)
12 Months Ended
Dec. 29, 2012
Quarterly Results

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.