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National Beverage Corp. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: December 6, 2012 05:07PM

National Beverage Corp. (FIZZ) filed Quarterly Report for the period ended 2012-10-27. National Beverage Corporation has a market cap of $794.5 million; its shares were traded at around $15.11 with a P/E ratio of 17.7 and P/S ratio of 1.3. National Beverage Corporation had an annual average earning growth of 6.8% over the past 10 years. GuruFocus rated National Beverage Corporation the business predictability rank of 2-star.



Highlight of Business Operations:

Net sales for the second quarter of fiscal 2013 increased 5.4% to $166.6 million as compared to $158.0 million for the second quarter of fiscal 2012. The sales improvement is due to case volume growth of 15.4% for our Power+ Brands and 6.3% for carbonated soft drinks. This sales improvement was partially offset by a 2.9% decline in unit pricing primarily due to product mix changes.

Selling, general & administrative expenses were $36.1 million or 21.7% of net sales for the second quarter of fiscal 2013 compared to $36.9 million or 23.4% of net sales for the second quarter of fiscal 2012. The decrease in expenses was due to lower marketing costs.

Net sales for the first six months of fiscal 2013 increased 6.8% to $349.4 million as compared to $327.1 million for the first six months of fiscal 2012. The sales improvement is due to case volume growth of 18.3% for our Power+ Brands and 6.8% for carbonated soft drinks. This sales improvement was partially offset by a 2.6% decline in unit pricing primarily due to product mix changes.

Selling, general & administrative expenses were $72.4 million or 20.7% of net sales for the first six months of fiscal 2013 compared to $77.3 million or 23.6% of net sales for the first six months of fiscal 2012. The decrease in expenses was due to lower marketing and administration expenses.

During the first six months of fiscal 2013, working capital increased $27.7 million to $97.5 million due to cash generated from operations. Trade receivables decreased $5.0 million, which represents a reduction in days sales outstanding from approximately 33.9 days at year-end to 30.9 days, and inventories increased $2.1 million, which represents a decrease in inventory turns from 11.0 at year-end to 10.4 times. The current ratio was 2.7 to 1 at October 27, 2012 and 1.9 to 1 at April 28, 2012.

Read the The complete Report



Stocks Discussed: FIZZ,
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