Beam Inc. Doing Fine On Its Own
By Chris Katje: On Thursday, Beam Incorporated (BEAM) reported first quarter earnings. Net sales for the quarter came in at $533.8 million, which was a 2% increase from 2011's first quarter. Operating income for the quarter was $131 million, which saw a 17% increase. Income from continued operations was $78.4 million. Earnings per share on a diluted basis were $0.49. Excluding charges and one-time items, Beam earned $0.53 per share.The company remains on track to hit three organic growth goals:
- Creating Famous Brands
- Building Winning Markets
- Fueling Our Growth
The Power Brands segment for the company continues to perform well and saw great growth numbers thanks to innovative new products. The Jim Beam brand has seen Devil's Cut and Red Stag flavors added to the original white label bourbon. Maker's Mark (Maker's 46), Courvoisier (Courvoisier Z) and Knob Creek (Single Barrel Reserve) have also sold well as their portfolio of flavor offeringsComplete Story »
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