November 02, 2012 18:31 ET
CALGARY, ALBERTA--(Marketwire - Nov. 2, 2012) - Big Rock Brewery Inc. (TSX:BR) ("Big Rock") announced its financial results today for the quarter ended September 30, 2012.
Net income for the quarter ended September 30, 2012 was $1.7 million compared to $1.1 million in the quarter ended September 30, 2011. Operating profit was $2.4 million compared to $1.4 million for the third quarter of 2011. The improvement in operating profit resulted from lower selling expenses as well as higher margins per hectolitre ("hl") attributable to both an increase in average selling prices and a decrease in production costs.
The improved operating profit was achieved despite a ten per cent decrease in the total volume of Big Rock's sales in the third quarter of 2012 as compared to the prior year. Sales volumes for the quarter ended September 30, 2012 were 62,276 hl as compared to 69,540 hl for the same quarter in 2011. Volume-driven price promotions utilized in the third quarter of 2011 were scaled back significantly for the third quarter of 2012, resulting in comparatively lower sales volumes but higher profit margins.
The Financial Statements and Management Discussion and Analysis dated November 2, 2012 can be viewed on Big Rock's website at bigrockbeer.com/corporate and on SEDAR at sedar.com under Big Rock Brewery Inc.
About Big Rock Brewery Inc.
Big Rock Brewery - headquartered in Calgary, Alberta - produces premium, all-natural craft beers. As Canada's leading craft brewer, Big Rock boasts a family of nine exceptional ales and lagers, Rock Creek dry cider, an ongoing selection of seasonal beers released through the Brewmaster's Edition and cutting-edge, limited-run brews released through the Alchemist Edition. Big Rock products are sold in nine provinces and two territories in Canada, and are also available in Korea.
For more information on Big Rock Brewery visit bigrockbeer.com.
Big Rock Brewery Inc.Robert SartorPresident and Chief Executive Officer403.720.3239403.720.3641 (FAX)Big Rock Brewery Inc.Barbara FeitChief Financial Officer403.720.3239403.720.3641 (FAX)email@example.com
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