UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT PURSUANT
TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported): July 18, 2014
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National Beverage Corp. | |
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(Exact Name of Registrant as Specified in Its Charter) | |
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Delaware | |
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(State or Other Jurisdiction of Incorporation) | |
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1-14170 |
59-2605822 |
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(Commission File Number) |
(IRS Employer Identification No.) |
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| 8100 SW Tenth Street, Suite 4000 | |
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Fort Lauderdale, Florida |
33324 |
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(Address of Principal Executive Offices) |
(Zip Code) |
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(954) 581-0922 | |
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(Registrant’s Telephone Number, Including Area Code) | |
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(Former Name or Former Address, if Changed Since Last Report) | |
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition
On July 18, 2014, National Beverage Corp. issued a press release announcing financial results for the fiscal year ended May 3, 2014. This release is furnished herewith as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
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(c) Exhibit 99.1 |
Press release dated July 18, 2014 announcing the Company’s financial results for the fiscal year ended May 3, 2014. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
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National Beverage Corp. |
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(Registrant) |
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| Date: July 18, 2014 | |||
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/s/ Gregory P. Cook |
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| Gregory P. Cook | |||
| Vice President - Controller and Chief Accounting Officer | |||
EXHIBIT INDEX
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99.1 |
Press release dated July 18, 2014 announcing the Company’s financial results for the fiscal year ended May 3, 2014. |
Exhibit 99.1
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NASDAQ: FIZZ For Immediate Release Contact: Office of the Chairman, Grace Keene |
NATIONAL BEVERAGE CORP.
‘REFRESHES ITS’
MOMENTUM
FORT LAUDERDALE, FL, July 18, 2014 . . . National Beverage Corp. (NASDAQ:FIZZ) today reported results for Fiscal 2014.
“While we exhausted vigorous efforts to overcome much repeated industry challenges, our Fiscal 2014 results were skewed,” stated Nick A. Caporella, Chairman and Chief Executive Officer.
“Painful, Yes – Resilient and Resourceful, we excitingly begin Fiscal 2015,” continued Caporella.
For the fiscal year ended May 3, 2014 ‒
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Revenues decreased to $641.1 million |
off 3.2% |
| ● | Net income decreased to $43.6 million | off 7.0% | |
| ● | Earnings per share decreased to $ .93 | off 7.9% |
“National Beverage is a quality Company, led by its passion to innovate. Vigorous attempts are simultaneously underway to lead the soft drink industry through its evolution to comply with the outcry of regulators and consumers alike. We are and plan to continue leading the way. All areas of our business, including carbonated soft drinks, are growing! Yes, the size of our smile is magnified by our Power+ Sparkling Waters. Our new dynamic creative has resulted in exciting consumer appeal. Keep a watchful eye for LaCroix’s Cúrate with its one-of-a-kind packaging and unique taste! Also, our distinctive change to the new flavors of brand LaCroix are a ‘must’ see and taste,” stated Caporella.
-more-
National Beverage Corp.
Page 2
“First quarter is more than on track – May and June have given Fiscal 2015 a passionate start. That’s a YES!!
A lesson worth sharing: silver linings usually accompany challenges, microscopic and often missed. Ours is a vivid confirmation that we own a philosophy that provokes our agility to change direction quickly – while a dynamic metamorphosis is underway in the soft drink industry. Our silver lining places us magnificently in the forefront of it! Indeed, our shareholder value will reflect these opportunistic elements.
Muhammad Ali once said, ‘Taking a punch at certain times . . . may be far better than giving one!’” concluded Caporella.
P.S. We asked on September 5, 2013 to have you judge our results –
“trailing twelve months ending July 2014” . . . Well, we are about to see!
National Beverage’s iconic brands are the genuine essence . . . of America.
“Patriotism” – If Only We Could Bottle It!
Fun, Flavor and Vitality . . . the National Beverage Way
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National Beverage Corp.
Page 3
National Beverage Corp.
Consolidated Results for the Fiscal Year Ended
May 3, 2014 and April 27, 2013
(in thousands, except per share amounts)
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Fiscal Year Ended |
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May 3, 2014 |
April 27, 2013 |
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Net Sales |
$ | 641,135 | $ | 662,007 | ||||
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Net Income |
$ | 43,635 | $ | 46,920 | ||||
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Earnings Per Common Share |
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Basic |
$ | .93 | $ | 1.01 | ||||
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Diluted |
$ | .92 | $ | 1.01 | ||||
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Average Common Shares Outstanding |
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Basic |
46,331 | 46,310 | ||||||
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Diluted |
46,519 | 46,482 | ||||||
The fiscal year ended May 3, 2014 consisted of 53 weeks.
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include fluctuations in costs, changes in consumer preferences and other items and risk factors described in the Company's Securities and Exchange Commission filings. The Company disclaims an obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained herein to reflect future events or developments.