admin
11-29-2006, 06:19 PM
Strong third quarter brings year-to-date volume up 21%
Pyramid Breweries Inc. announced gross sales for the third quarter ended September 30, 2006 were $15.8 million, representing a 10% increase over gross sales for the third quarter of 2005.
This growth resulted primarily from increased shipment volume of 16% in the core Pyramid brand family, comprised mainly of Hefe Weizen and Apricot Weizen beers.
"Our Pyramid brand family volume increase of 16% for the third quarter compared to the third quarter a year ago, and 21% volume growth year-to-date over the last year is especially encouraging since we exceeded a very strong year in 2005," stated Scott Barnum, CEO.
Other non-core beer brand shipments were down 20% to 8,800 barrels. The brewery has eliminated a number of underperforming product styles in the past year, primarily relating to the MacTarnahan's line and non-core beer brands, which accounted for over 1,100 barrels in the third quarter of 2005, or 56% of the non-core brand shipment decrease. Soda shipments increased 11% to 14,700 barrels.
In the company’s alehouse division, gross margin increased 33% to $407,000 and gross sales decreased 1% to $4.1 million. The Seattle and Walnut Creek alehouses contributed to the increase in gross margin offset by declines at the Berkeley, Portland and Sacramento alehouses due to fewer guest visits.
Pyramid Breweries Inc. announced gross sales for the third quarter ended September 30, 2006 were $15.8 million, representing a 10% increase over gross sales for the third quarter of 2005.
This growth resulted primarily from increased shipment volume of 16% in the core Pyramid brand family, comprised mainly of Hefe Weizen and Apricot Weizen beers.
"Our Pyramid brand family volume increase of 16% for the third quarter compared to the third quarter a year ago, and 21% volume growth year-to-date over the last year is especially encouraging since we exceeded a very strong year in 2005," stated Scott Barnum, CEO.
Other non-core beer brand shipments were down 20% to 8,800 barrels. The brewery has eliminated a number of underperforming product styles in the past year, primarily relating to the MacTarnahan's line and non-core beer brands, which accounted for over 1,100 barrels in the third quarter of 2005, or 56% of the non-core brand shipment decrease. Soda shipments increased 11% to 14,700 barrels.
In the company’s alehouse division, gross margin increased 33% to $407,000 and gross sales decreased 1% to $4.1 million. The Seattle and Walnut Creek alehouses contributed to the increase in gross margin offset by declines at the Berkeley, Portland and Sacramento alehouses due to fewer guest visits.