Boston Beer Co. (SAM) Misses Q1 EPS by 43c; Guides Below the Street
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Boston Beer Reports First Quarter 2016 Results
April 21, 2016 4:15 PM EDTBOSTON, April 21, 2016 /PRNewswire/ -- The Boston Beer Company, Inc. (NYSE: SAM) reported first quarter 2016 net revenue of $188.8 million, a decrease of $10.7 million or 5% from the same period last year, mainly due to a decline in core shipments of 6%, partially offset by price increases. Net income for the first quarter was $7.0 million, or $0.53 per diluted share, a decrease of $6.7 million or $0.47 per diluted share from the first quarter of 2015. This decrease was primarily due to decreases in net revenue, a decrease in gross margin and increased general and administrative expenses.Â
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