Jack Daniels parent posts rise in fourth quarter net income9:11 am | June 5, 2013
LOUISVILLE, Ky. — Liquor producer Brown-Forman Corp. says its fourth-quarter net income rose 8 percent with broad sales growth in its spirits lineup, led by its flagship Jack Daniel’s brand.
The company on Wednesday reported strong U.S. sales and says its international sales were bolstered by the rollout of Jack Daniel’s Tennessee Honey in several key markets.
Company CEO Paul Varga says he’s “cautiously optimistic” about growth in the coming year, due largely to the popularity of North American whiskeys and premium brands.
Brown-Forman reported net income of $113 million, or 52 cents per share, for the three months ended April 30, up 8 percent from a year ago. Quarterly net sales rose to $866 million.
Analysts surveyed by FactSet expected earnings of 46 cents per share on net sales of $801.7 million