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
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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 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 December 5, 2019, National Beverage Corp. issued a press release announcing financial results for the three month period ended October 26, 2019. The information in Item 2.02 of this report, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under that Section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01 Financial Statements and Exhibits
(d) Exhibit 99.1 Press release dated December 5, 2019 announcing the Company’s financial results for the three-month period ended October 26, 2019.
Exhibit 104 Cover Page Interactive Data File (formatted as Inline XBRL)
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: December 9, 2019
EXHIBIT INDEX
99.1 Press release dated December 5, 2019 announcing the Company’s financial results for the three-month period ended October 26, 2019.
104 Cover Page Interactive Data File (formatted as Inline XBRL)
Exhibit 99.1
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NASDAQ: FIZZ For Immediate Release Contact: Office of the Chairman, Grace Keene |
NATIONAL BEVERAGE CORP. REPORTS
SOLID SECOND QUARTER RESULTS
WITH CONFIDENT ENTHUSIASM
FORT LAUDERDALE, FL, December 5, 2019 . . . National Beverage Corp. (NASDAQ: FIZZ) today announced results for its second quarter ended October 26, 2019:
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Net sales were $252 million; |
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Gross margin was 36.9% of sales, a continued stair-step improvement; |
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Earnings per share were $ .70 vs. $ .74 for the prior sequential quarter; and |
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Cash was $234 million. |
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November orders were ahead of last year’s pace. |
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“One of the most profound occurrences in a company is when key indicators significantly create an atmosphere that motivates the entire team . . . we are at this place. Our November orders were ahead of last year’s pace and our recently introduced Hi-Biscus is expanding across the country and has been met with enthusiastic responses from both consumers and retailers,” stated a company spokesperson. “With European finesse and unique flavor innovation, our exciting new LimonCello and Pastèque are joining the LaCroix family of flavors and will be launched nationally in early 2020. Consumer engagement with LaCroix is strong and we are seeing steadfast social media support from the legions of loyal LaCroix fans.” |
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National Beverage Corp.
Page 2
“In the past, the carbonated soft drink business in the U.S. and throughout the world needed combating brands to convince consumers and retailers that no one entity or brand could control the cola business. Today, the sparkling water category is totally different with the primary difference being the changing lifestyle of the health-conscious consumer. Therefore, it is not how many sparkling waters that exist nor the competitive difference between them, but which brand remains within the mindset and health barometer of its consumer base.
| LaCroix will remain the leading sparkling water brand of the core health-conscious consumer phenomenon. It’s not what LaCroix is going to do in the future that makes it different, it’s what LaCroix has been doing all along. LaCroix is the leading domestic premium sparkling water brand and plans to stay that way!” concluded the spokesperson. |
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We love our LaCroix . . .
We are passionate about our LaCroix . . .
We are crazy about our LaCroix . . .
We #LIVE LaCroix!! |
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National Beverage Corp.
Page 3
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National Beverage Corp. |
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Consolidated Results for the Periods Ended |
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October 26, 2019 and October 27, 2018 |
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| Three Months Ended | Six Months Ended | |||||||||||||||
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Oct. 26, 2019 |
Oct. 27, 2018 |
Oct. 26, 2019 |
Oct. 27, 2018 |
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Net Sales |
$ | 251,611 | $ | 260,709 | $ | 515,179 | $ | 553,299 | ||||||||
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Net Income |
$ | 32,654 | $ | 41,078 | $ | 67,196 | $ | 89,908 | ||||||||
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Earnings Per Common Share |
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Basic |
$ | .70 | $ | .88 | $ | 1.44 | $ | 1.93 | ||||||||
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Diluted |
$ | .70 | $ | .88 | $ | 1.43 | $ | 1.92 | ||||||||
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Average Common Shares Outstanding |
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Basic |
46,653 | 46,628 | 46,650 | 46,623 | ||||||||||||
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Diluted |
46,877 | 46,928 | 46,879 | 46,923 | ||||||||||||
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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. |