Brown-Forman 4Q Net Falls, Growth Slows

Brown-Forman Corp.'s BF BF fourth-quarter earnings fell 37% from the year-earlier period and fell 5% excluding the gain from the sale of a business in the year-earlier period. The company also posted guidance of $3.60-$4 for the fiscal year, whereas analysts expect about $3.98 for the period.

The wine and liquor company, famous for brands such as Jack Daniel's whiskey Finlandia vodka, and Korbel sparkling wine, has seen sales growth in international markets. While the company's US business has seen a slowuggish growth, there have been some bright spots. The company's introduction of flavored whiskeys, such as Jack Daniel's Tennessee Honey and Southern Comfort Fiery Pepper.

For the quarter ended April 30, the company earned $104.5 million, or $.73 per share, on $801.3 million in sales, compared to $165.4 million, or $1.13 a year earlier, but this period included a one-time gain of $.36 from a business sale. Analysts were expecting $.76 per share on revenue of $805 million.