Boston Beer 3Q Income Rises 24 Percent

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. The company said its shipment volume in the third quarter jumped 29 percent from a year ago to 993,000 barrels.

(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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