National Beverage Corp. (NASDAQ: FIZZ) today reported ‘Break-Out'
results, as previously committed, with revenues and net income
surpassing expectations.
FY '16 Financial Highlights (Graphic: Business Wire)
"When one looks at growth potential combined with quality of earnings
and unprecedented consumer demand, the question is not one of value . .
. but one of indeterminable potential!!" stated Nick A. Caporella,
Chairman and Chief Executive Officer, at a recent Michigan executive
meeting.
"Indeterminable potential is not only the result of excellent
fundamentals . . . but, more profoundly – Genius Innovation! We are on
the right side of novel . . . where dynamics such as product
development, packaging, Innocent ingredients, millennial
optics and shelf marketing are uniquely synthesized. The Result = Indeterminable
Potential!" smiled Caporella.
"Good fortune absolutely, but also highly-essenced strategies and
impressive brand assets – clearly at work. We have first place,
the leadership role in the healthy, sparkling water category. LaCroix is
blessed with a cult following. What does that really mean? It
means that our consumer base promotes others to follow and favor
LaCroix while creating ‘Buzz' and promoting the healthy benefits
of our mutually ‘owned' LaLa LaCroix brand.
"This year witnessed ‘proven' predictions relative to many works
in progress. The ongoing success of LaCroix's Cúrate ‘theme' continues
its unparalleled growth. TangerEEN is proving to be the most
dynamic LaCroix launch thus far and LaCroix NiCola is refreshingly
satisfying cola converts at every new location," exclaimed Caporella.
"Shasta Sparkling Water SDA (soft drink alternative), with its
eloquent design, has been introduced within Shasta's demographic areas
where carbonated soft drink consumers who want their nostalgic Shasta
flavors – now have a choice of entirely ‘Innocent' and exciting
healthy alternatives. While our shareholders are enjoying ‘more than
healthy' increases, our innovation and creativity are generating
untethered consumer demand.
"Our normally strong first quarter of a new year usually predicts a good
year-over-year growth probability. This first quarter will see revenues
exceed $200 million for the very first time – another respectable
milestone . . . Yes!
"Anxious America wants to be more
than healthy – we are doing more
than our part!" concluded Caporella.
National Beverage's iconic brands are the genuine essence . . . of
America.
"Patriotism" – If Only We Could Bottle It!
Fun, Flavor and Vitality . . . the National Beverage Way
FIZZ Achievements
MILESTONES
Launch of Shasta Sparkling (SDA) Clean Label – Industry First
LaCroix TangerEEN Sets New Launch Records
FIZZ Surpassed $2.5 Billion Market Cap1
1st Qtr. FY '17 Revenues Will Exceed $200 million – New
Milestone
TTM STATISTICS1
EBITDA* UP 34% to $118 million
FIZZ UP 168% to $61.37
Operating Margin (% of sales) Advanced Additional10%
over FY '16 to 14.5%
1 Trailing Twelve Months ended July 2, 2016
National Beverage Corp.
Consolidated Results for the Periods Ended
April 30, 2016 and May 2, 2015
Fourth Quarter Statistics
Fiscal Year Ended
April 30, 2016 vs. May 2, 2015
April 30, 2016
May 2, 2015
(in thousands, except per share amounts)
Gross Profit -
Net Sales
$ 704,785
$ 645,825
Up 280 bps to 36.5% of Net Sales
Net Income
$ 61,198
$ 49,311
Operating Income -
Up 43% to $26.5 million
Earnings Per
Common Share
Net Income -
Basic
$ 1.31
$ 1.06
Up 44% to $17.5 million
Diluted
$ 1.31
$ 1.05
EBITDA* -
Average Common Shares
Up 38% to $29.3 million
Outstanding
Basic
46,452
46,353
Diluted
46,671
46,559
This press release includes forward-looking statements within the
meaning of the Private Securities
Litigation Reform Act of 1995. Such forward-looking statements
involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements of the Company
to be materially different from any future results, performance or
achievements expressed or implied by
such forward-looking statements. Such factors include fluctuations
in costs, changes in consumer
preferences and other items and risk factors described in the
Company's Securities and Exchange Commission
filings. The Company disclaims an obligation to update any such
factors or to publicly announce the results
of any revisions to any forward-looking statements contained herein
to reflect future events or
developments.
*Although the Company reports its financial results in accordance
with accounting principles generally
accepted in the United States ("GAAP"), management believes that the
disclosure of EBITDA, a non-GAAP
financial measure, may provide users of this financial information
with additional insights into the
operating performance of the business. EBITDA (in millions) for the
fourth quarter and fiscal year ended
April 30, 2016, and for the trailing twelve months ended July 2,
2016, of $29.3 and $104.9, and $117.8,
respectively, is calculated by adding the following expenses back to
Net Income for each of the periods:
Depreciation and Amortization of $3.0, $12.1 and $12.0; Net Interest
Expense of $0, $.1 and $.1; and
Provision for Income Taxes of $8.8, $31.5 and $35.9.
