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Coca-Cola Bottling Co Consolidated posts sales decrease
Coca-Cola Bottling Co Consolidated has earned $38.1m, or basic net income per share of $4.16, on net sales of $1.44bn for fiscal 2009, compared to net income of $9.1m, or basic net income per share of $.99, on net sales of $1.46bn for fiscal 2008.
The results for fiscal 2009 included $8.0m of mark-to-market after-tax gains ($13.2m on a pre-tax basis) due to the company’s fuel and aluminium hedging programmes and $1.1m on an after-tax basis ($1.9m on a pre-tax basis) of additional income from the 53rd week of fiscal 2009 (2009 was a 53-week year).
Fiscal 2009 results also included $7.1m in tax benefits which reduced the company’s effective tax rate to 30.3%. The results for fiscal 2008 included $10.1m of after-tax charges impacting comparability ($19.4m on a pre-tax basis) which were due to pension exit and strike settlement costs, restructuring expenses and fuel hedging losses.
Source: Coca-Cola Bottling Co Consolidated
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