CHARLOTTE, N.C. (AP) -- Coca-Cola Bottling Co. earned the same amount of money in the third quarter as it did in the year-ago period, even as revenue rose.
The bottler had higher costs and higher income taxes.
The company, based in Charlotte, N.C., said late Wednesday that it earned $15.5 million, or $1.68 per share, in the three-month period ending Oct. 3. In the year-ago period the company earned $15.4 million, or $1.67 per share.
Net revenue rose 5.6 percent to $395.4 million.
Excluding one-time items the company earned $1.31 per share.
Analysts expected the company to earn $1.07 per share on revenue of $413 million, according to Thomson Reuters. Analysts typically exclude one-time items from their estimates.
President William B. Elmore said in a statement that the company is pleased with the growth it is seeing in its business at restaurants and other outlets. That's an area where consumers had been cutting spending in the economic downturn. Elmore said the company's focus on having the right price in the right package in the right place is driving results.
Shares fell one dollar to $55.71 in midday trading Thursday.
