Washington, DC 20549





to Section 13 or 15(d) of the

Securities Exchange Act of 1934


Date of report (Date of earliest event reported):    March 8, 2018


National Beverage Corp.

(Exact Name of Registrant as Specified in Its Charter)



(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))


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).


Emerging growth company


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.





Item 2.02 Results of Operations and Financial Condition


On March 8, 2018, National Beverage Corp. issued a press release announcing financial results for the periods ended January 27, 2018. 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 8, 2018 announcing the Company’s financial results for the periods ended January 27, 2018.




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.





/s/ Gregory P. Cook

 Gregory P. Cook

 Vice President - Controller and Chief Accounting Officer



Date: March 9, 2018








Press release dated March 8, 2018 announcing the Company’s financial results for the periods ended January 27, 2018.


Exhibit 99.1



For Immediate Release

Contact: Office of the Chairman, Grace Keene






FORT LAUDERDALE, FL, March 8, 2018 . . . National Beverage Corp. (NASDAQ: FIZZ) today announced results for its third quarter and nine months ended January 27, 2018. Compared to the prior year:



For the nine months ended January 27, 2018



Revenues grew to $731 million, up 19%


Gross Profit and Operating Profit grew 22% and 31%, respectively


Net Income and EPS increased 46% from prior year


For the Trailing Twelve Months ended January 27, 2018:


(Dollars in millions except EPS)















FY 2018

  $ 943     $ 199     $ 142     $ 3.06     $ 212  

YOY Growth

    19 %     37 %     49 %     49 %     35 %

FY 2017

  $ 794     $ 145     $ 95     $ 2.05     $ 157  

 • Cash was $155 million net of $140 million dividend distributions from January 27, 2017


Despite severe weather conditions which temporarily disrupted deliveries in certain markets, our third quarter top-line and bottom-line growth again led the industry,” stated Chairman and CEO Nick A Caporella. “The third quarter marked our 15th consecutive quarter of year-over-year earnings growth, and the 11th consecutive quarter of double-digit earnings growth. While we are compelled by regulations to record a one-time adjustment to previous deferred tax liabilities by $4.3 million, and adjust prior year-to-date income tax to the estimated effective tax rate for the full year resulting in a $7 million reduction in tax expense; after these adjustments the third quarter produced after-tax earnings of $41.1 million or earnings per share of $.88.” 







National Beverage Corp.


Page 2



“While I certainly believe that the new tax code is beneficial for American enterprise, I may have desired alternative methods to report our stated results. We manage our consumer products and our investor business with focused dedication and passion. We believe in our philosophy and its proven results and continuously modify our business plan . . . to adjust for this tax modification was more than uncomfortable.


Throughout these past five years, we have repeatedly identified all of the authentic circumstances pertaining to the sustainability of our brand growth and performance . . . most especially, brand LaCroix. Due to its phenomenal prospects, we are questioned constantly about sustainability. The results included in this report further confirm our operating logic,” continued Caporella.


Over the years, I have witnessed most major players in the carbonated soft drink (CSD) business educate retailers on ‘How to make less – Profits!’ These same players are now trying to do the same in the true sparkling water segment. But, today, the concerned retailers are rebuking these harmful efforts to destroy their opportunity to continue sustaining the high growth/better margin of the sparkling water segment. Additionally, they have resisted compromising this authentic, healthy segment of their business – with rigorous diligence . . . Advantage LaCroix!” concluded Caporella.





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


Patriotism” – If Only We Could Bottle It!








National Beverage Corp.


Page 3


National Beverage Corp.

Consolidated Results for the Periods Ended

January 27, 2018 and January 28, 2017


    (in thousands, except per share amounts)  
    Three Months Ended     Nine Months Ended  

Jan. 27, 2018


Jan. 28, 2017


Jan. 27, 2018


Jan. 28, 2017


Net Sales

  $ 227,477     $ 194,564     $ 731,428     $ 614,852  

Net Income

  $ 41,080     $ 24,285     $ 113,332     $ 77,884  

Earnings Per Common Share



  $ .88     $ .52     $ 2.43     $ 1.67  


  $ .88     $ .52     $ 2.42     $ 1.67  

Common Shares Outstanding



    46,603       46,566       46,594       46,561  


    46,923       46,763       46,921       46,764  





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 $212 and $157 for the twelve months ended January 27, 2018 and January 28, 2017, respectively, is calculated by adding the following expenses back to Net Income: Depreciation and Amortization of $13.5 and $12.6; Net Interest (Income) of ($1.0) and ($.3); and Provision for Income Taxes of $57.0 and $49.3.