UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT Pursuant
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported):
| National Beverage Corp. |
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Securities registered pursuant to Section 12(b) of the Act:
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Name of each exchange on which registered |
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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):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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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 June 26, 2019, National Beverage Corp. issued a press release announcing financial results for the fiscal year ended April 27, 2019. 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 |
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)
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By: |
/s/ George R. Bracken |
George R. Bracken
Executive Vice President – Finance
(Principal Financial Officer)
Date: June 27, 2019
EXHIBIT INDEX
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99.1 |
Press release dated June 26, 2019 announcing the Company’s financial results for the fiscal year ended April 27, 2019. |
Exhibit 99.1
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NASDAQ: FIZZ For Immediate Release Contact: Office of the Chairman, Grace Keene |
NATIONAL BEVERAGE CORP.
UPDATES SHAREHOLDERS AND CONSUMERS
FORT LAUDERDALE, FL, June 26, 2019 . . . National Beverage Corp. (NASDAQ: FIZZ) today announced results for its Fiscal Year Ended April 27, 2019.
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In thousands except EPS |
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Net Sales |
Net Income |
EPS |
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Fiscal Year Ended April 27, 2019 |
$ | 1,014,105 | $ | 140,853 | $ | 3.02 | |||||||
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Fiscal Year Ended April 28, 2018 |
975,734 | 149,774 | 3.21 | ||||||||||
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Fiscal Year Ended April 29, 2017 |
826,918 | 107,045 | 2.30 | ||||||||||
Key Facts - FY 2019
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Net Sales of branded products grew 6.2% in Fiscal Year 2019. |
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Power+ Brands volume increased 8.9%. |
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LaCroix is the #1 brand of Sparkling Water in the United States and is the #1 brand in 41 of 52 Nielsen Metropolitan Statistical Areas. |
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LaCroix innovation continued with: |
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Three inspiring new additions to the LaCroix NiCola theme; |
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Expanded variety pack offerings for distribution to the club store channel; and |
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Expansion of LaCroix products in Canada. |
-more-
National Beverage Corp.
Page 2
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Joy Bauer, MS, RDN, one of the nation’s leading health authorities, was named the national dietitian representing LaCroix Sparkling Water. |
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Net income for FY 2019 was impacted by: |
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Increased aluminum costs primarily due to tariffs; |
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Increased manufacturing costs; |
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Shipping and marketing spending increases; and |
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A $4.3 million ($.09 per share) one-time reduction of FY 2018 income tax expense resulting from the 2017 Tax Cuts and Jobs Act. |
Key Themes – Early FY 2020
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The new and innovative LaCroix flavor, Hi-Biscus, is now being launched from coast-to-coast. |
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LaCroix is introduced into the United Kingdom. |
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LaCroix summer marketing campaign is underway in cities across the entire U.S. |
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LaCroix is launching new social media and consumer experience programs. |
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Nutrition panels on LaCroix labels are changing to comply with new federal regulations - indicating that LaCroix is Whole30, non-GMO, and produced without BPA liners. |
LaCroix uniquely defined the Sparkling Water category to improve consumers’ health consciousness. LaCroix’s commitment to improved beverage health resulted in an expansion of significant retail space for the category – bringing more choice to consumers. LaCroix was the original beneficiary of such expansion with many less-nimble competitors recently gaining distribution. LaCroix is the category leader bringing consumers a feeling of joy, natural zest and delightful gratification. We will always remain true to these virtues.
-more-
National Beverage Corp.
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National Beverage Corp. |
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Consolidated Results for the Fiscal Years Ended |
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April 27, 2019, April 28, 2018 and April 29, 2017 |
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Fiscal Year Ended |
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April 27, 2019 |
April 28, 2018 |
April 29, 2017 |
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Net Sales |
$ | 1,014,105 | $ | 975,734 | $ | 826,918 | |||||||||
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Net Income |
$ | 140,853 | $ | 149,774 | $ | 107,045 | |||||||||
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Earnings Per Common Share |
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Basic |
$ | 3.02 | $ | 3.21 | $ | 2.30 | |||||||||
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Diluted |
$ | 3.00 | $ | 3.19 | $ | 2.29 | |||||||||
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Avg. Common Shares Outstanding |
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Basic |
46,633 | 46,598 | 46,564 | ||||||||||||
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Diluted |
46,917 | 46,921 | 46,770 | ||||||||||||
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See the Company's Annual Report on Form 10K filed June 26, 2019 for complete financial statements. |
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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. |
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