Boston Beer 3Q Income Rises 24 Percent

(AP) — NEWS: The Boston Beer Company Inc.'s third-quarter net income rose 24 percent, thanks to higher demand for its Samuel Adams beer, Twisted Tea malt beverage and Angry Orchard hard cider.

DETAILS: The company, which is based in Boston, said Wednesday that its shipment volume in the third quarter jumped 29 percent from a year ago to 993,000 barrels.

NUMBERS: Net income rose to $25.7 million, or $1.89 per share, in the quarter ending Sept. 28, up from $20.8 million, or $1.53 per share, in the same quarter a year ago.

Revenue rose 28 percent to $231.8 million from $180.4 million.

FUTURE: The company did not provide a 2014 outlook, but said it will offer guidance when it reports its full-year 2013 results.

STOCK: Up $2 to close at $247.70 Wednesday before the release of the earnings report. They gave back $2 to $245.70 in aftermarket trading.

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