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Craft Brew Alliance Q2 profit climbs 65.0% YOY

Craft Brew Alliance Inc. said its normalized net income for the second quarter came to 12 cents per share, compared with the S&P Capital IQ consensus estimate of 13 cents per share.

EPS climbed 64.5% year over year from 7 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $2.4 million, a gain of 65.0% from $1.4 million in the year-earlier period.

The normalized profit margin climbed to 3.8% from 2.4% in the year-earlier period.

Total revenue rose 6.4% year over year to $62.3 million from $58.5 million, and total operating expenses grew from the prior-year period to $58.3 million from $56.1 million.

Reported net income grew 71.9% from the prior-year period to $2.3 million, or 12 cents per share, from $1.3 million, or 7 cents per share.