- Fort Lauderdale-based National Beverage Corporation, manufacturer of beverage brands including LaCroix, Everfresh, Shasta, and Rip It, reported financial results for the nine months ending Jan. 25. The sales were approximately $476.8 million.
- The company’s Chairman and Chief Executive Officer Nick A. Caporella blamed declines on the severe weather this past season. Raw material arrival delays and finished goods delivery delays impeded performance, causing a 3.6% decrease in sales compared with the previous year for the same period.
- Net income for the period was approximately $31.7 million, with operating income at approximately $48 million.
As Carporella observed, “This phenomenal winter, with temperatures and conditions not witnessed in over 50 years, created several first-time circumstances for us at National Beverage Corp.” The winter also wreaked havoc on the California citrus crop. As more financial results pertaining to sales over the winter months come in, we'll likely see more reports of declining numbers for a range of industries that were affected by the weather.