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National Beverage Corp. has a market cap of $797.8 million; its shares were traded at around $17.24 with a P/E ratio of 18.9 and P/S ratio of 1.3. National Beverage Corp. had an annual average earning growth of 8.1% over the past 10 years. GuruFocus rated National Beverage Corp. the business predictability rank of 2-star.
Highlight of Business Operations:Net sales for the second quarter of fiscal 2012 increased 4.5% to $157,974,000 compared to $151,127,000 for the second quarter of fiscal 2011. The sales improvement is due to case volume growth of 6.1% for our premium brand portfolio and a 5.0% increase in unit pricing. The higher unit pricing is due to product mix changes and price increases implemented to mitigate higher raw material costs. The sales improvement was partially offset by a decline in carbonated soft drinks, resulting in relatively flat total case volume.
Selling, general & administrative expenses were $36,913,000 or 23.4% of net sales for the second quarter of fiscal 2012 compared to $40,510,000 or 26.8% of net sales for the second quarter of fiscal 2011. The decrease in expenses was due to lower marketing and administrative expenses.
Net sales for the first six months of fiscal 2012 increased 3.4% to $327,054,000 compared to $316,157,000 for the first six months of fiscal 2011. The sales improvement is due to case volume growth of 9.4% for our premium brand portfolio and a 4.6% increase in unit pricing. The higher unit pricing is due to product mix changes and price increases implemented to mitigate higher raw material costs. The sales improvement was partially offset by a decline in carbonated soft drinks, resulting in a 1.1% decrease in total case volume.
Gross profit approximated 35.2% of net sales for the first six months of fiscal 2012 compared to 36.3% of net sales for the first six months of fiscal 2011. The gross profit decline was due primarily to higher raw material costs partially offset by higher unit pricing. Cost of sales increased 6.4% on a per case basis.
Selling, general & administrative expenses were $77,271,000 or 23.6% of net sales for the first six months of fiscal 2012 compared to $80,239,000 or 25.4% of net sales for the first six months of fiscal 2011. The decrease in expenses was due to lower marketing expenses.
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