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): March 9, 2017

 

National Beverage Corp.

(Exact Name of Registrant as Specified in Its Charter)

Delaware

(State or Other Jurisdiction of Incorporation)

 

1-14170	59-2605822
(Commission File Number)	(IRS Employer Identification No.)
8100 SW Tenth Street, Suite 4000
Fort Lauderdale, Florida	33324
(Address of Principal Executive Offices)	(Zip Code)

 

(954) 581-0922

(Registrant’s Telephone Number, Including Area Code)

(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 March 9, 2017, National Beverage Corp. issued a press release announcing financial results for the periods ended January 28, 2017. This release is furnished herewith as Exhibit 99.1 hereto. 

 

 

Item 9.01 Financial Statements and Exhibits

 

(c) Exhibit 99.1

Press release dated March 9, 2017 announcing the Company’s financial results for the periods ended January 28, 2017.

 

 

 

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.

 

National Beverage Corp.

(Registrant)

 

 

By:	/s/ Gregory P. Cook
	Gregory P. Cook
	Vice President - Controller and Chief Accounting Officer

 

 

Date: March 10, 2017

 

 

 

EXHIBIT INDEX

 

99.1	Press release dated March 9, 2017 announcing the Company’s financial results for the periods ended January 28, 2017.

 

Exhibit 99.1 

EARNINGS DOUBLE

   IN WINTER QUARTER . . .

NATIONAL BEVERAGE CORP.

SHAREHOLDERS GAIN

 

 

FORT LAUDERDALE, FL, March 9, 2017 . . . National Beverage Corp. (NASDAQ: FIZZ) today announces results for the third quarter of its 2017 Fiscal Year.

 

Investor Conscience

 

●

Nine-month earnings surpassed results for entire year FY 2016 by 27%.

 

●

EPS for the trailing twelve months was $2.05, achieving a new milestone.

 

●

Third quarter Revenues grew over 20% to $195 million.

 

●

Third quarter EPS increased 117% to $ .52.

 

●

TTM January 28, 2017 operating margin growth climbs to 18.2%.

  

For the twelve months ended January 28, 2017 and January 30, 2016:

(Dollars in millions except EPS) 

 

		Revenues				Op. Income				Net Income				EPS				EBITDA*
FY 2017		$	794			$	145			$	95			$	2.05			$	157
YOY Growth			15	%			70	%			71	%			71	%			62	%
FY 2016		$	690			$	85			$	56			$	1.20			$	97

  

“In conventional times, great things happen if great choices, great strategies, great teams and great fortune all align! We are in the depth of this unique time. Simultaneously, a very rare phenomenon comprising consumers, aggressive retailers and a new Mindfulness here at National Beverage . . . ignited an innovativeness that is extremely compelling to observe,” stated Nick A. Caporella, Chairman and Chief Executive Officer.

 

-more-

 

 

 

“Consumers are stimulating a dynamic that I have never before witnessed and this has resulted in retailers converting more and more aisle space to healthier products. I feel we are very much at the forefront of this new dynamic,” continued Caporella, speaking at a recent management conference.

 

“I am extremely proud that we finished our third quarter with industry-leading performance and that we are on course for having our record-setting year. Those of you who are joyous relative to our products and shareholders that rejoice in their appreciation and distributions – we hold you all in high esteem. The future has never been as exciting,” smiled Caporella.

 

Solid

Facts

           

●

Greatest performing third quarter ever.

 

●

Cash balances of $106 million after January distribution payment of $70 million.

 

●

Soda pop crossover consumers hydrate nearly the same in winter and summer periods.

 

●

75% through FY2017 – results reflect a record year in the making.

 

●

Second cash distribution to be announced prior to FY2017 year end.

 

●

Special dividend based on length of time held – forthcoming announcement.

 

●

LaCroix + Shasta SDA (soft drink alternative) Brand Values reflect – Contrails!

  

 

 

FIZZ IS – HEALTHY SPARKLING, ALL-WAYS!

 

National Beverage’s iconic brands are the genuine essence . . . of America

 

“Patriotism” – If Only We Could Bottle It! 

 

 

 

 

-more-

 

  

 

National Beverage Corp.

Consolidated Results for the Periods Ended

January 28, 2017 and January 30, 2016

 

						(in thousands, except per share amounts)
Sparkling Performance						Three Months Ended								Nine Months Ended
						Jan. 28, 2017				Jan. 30, 2016				Jan. 28, 2017				Jan. 30, 2016
Bottled water consumption will
surpass carbonated soft drinks		Net Sales				$	194,564			$	161,687			$	614,852			$	525,751
this year as the largest beverage
category in the U.S. (1)		Net Income				$	24,285			$	11,236			$	77,884			$	43,661
LaCroix is the fastest growing			Earnings Per
natural sparkling water brand. (2)		Common Share
		Basic				$	.52			$	.24			$	1.67			$	.94
National Beverage innovates		Diluted				$	.52			$	.24			$	1.67			$	.93
as Natural as it Sparkles.
		Average Common Shares
		Outstanding
		Basic					46,566				46,448				46,561				46,420
		Diluted					46,763				46,707				46,764				46,648

  

---

This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve risks, uncertainties and other factors described in the Company's Securities and Exchange Commission filings which may cause actual results or achievements to differ from the results or achievements expressed or implied by such statements. The Company disclaims an obligation to update or announce revisions to any forward-looking statements.

 

*Although the Company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"), management believes that the disclosure of EBITDA, a non-GAAP financial measure, may provide users with additional insights into the operating performance of the business. EBITDA (in millions) of $157.0 and $96.7 for the 12 months ended January 28, 2017 and January 30, 2016, respectively, is calculated by adding the following expenses back to Net Income: Depreciation and Amortization of $12.6 and $11.8; Net Interest (Income) Expense of ($.3) and $.2; and Provision for Income Taxes of $49.3 and $29.0.

 

(1) Zenith International data - all channels

(2) SPINS (Specialty Products Industry Natural Stores) scan data 52 weeks ending January 22, 2017.