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Boston Beer profit beats consensus by 46.7% in fiscal Q1

Boston Beer Co. Inc. said its normalized net income for the fiscal first quarter ended March 28 came to 100 cents per share, compared with the S&P Capital IQ consensus estimate of 68 cents per share.

EPS increased 62.2% year over year from 62 cents.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $13.6 million, an increase of 64.6% from $8.3 million in the year-earlier period.

The normalized profit margin climbed to 6.8% from 4.5% in the year-earlier period.

Total revenue climbed 8.5% year over year to $199.5 million from $183.8 million, and total operating expenses rose on an annual basis to $177.4 million from $170.5 million.

Reported net income grew 65.4% year over year to $13.7 million, or $1.00 per share, from $8.3 million, or 62 cents per share.