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fizz20220310_8k.htm
false 0000069891 0000069891 2022-03-10 2022-03-10
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 10, 2022
 
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)
 
Securities registered pursuant to Section 12(b) of the Act:
 
Title of each Class Trading Symbol Name of each exchange on which registered
Common Stock, par value $.01 per share FIZZ The NASDAQ Global Select Market
 
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 10, 2022, National Beverage Corp. issued a press release announcing financial results for its third quarter ended January 29, 2022. 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 March 10, 2022 announcing the Company’s financial results for the third quarter ended January 29, 2022.
   
      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)
 
 
By:      /s/ George R. Bracken
George R. Bracken
Executive Vice President – Finance
(Principal Financial Officer)
 
 
 
Date: March 11, 2022
 
 
 
EXHIBIT INDEX
 
99.1         Press release dated March 10, 2022 announcing the Company’s financial results for the third quarter ended January 29, 2022.
 
104          Cover Page Interactive Data File (formatted as Inline XBRL)
 
 
ex_346011.htm

Exhibit 99.1

 

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NASDAQ: FIZZ
For Immediate Release
Contact:  Office of the Chairman, Grace Keene

 

 

RECORD THIRD QUARTER REVENUES

ON GROWTH IN VELOCITY

REPORTS NATIONAL BEVERAGE CORP.

 

 

FORT LAUDERDALE, FL, March 10, 2022 . . . National Beverage Corp. (NASDAQ: FIZZ) today announced results for its third quarter ended January 29, 2022:

 

 

●

Net sales were $259 million, a third-quarter sales record;

 

 

●

Brand Pricing Power:

 

 

o

Pricing per case increased 10.1% compared to the prior year’s quarter and 6.1% on a trailing-twelve-month basis;

 

 

●

Gross profit was $94 million for the third quarter, the second highest in our history; and

 

 

●

Earnings per share was $.33

 

“Our results for the third quarter demonstrate the sustainability of healthy innovative brands with dynamic consumer appeal,” stated a company spokesperson. “By necessity, we have led the industry in increased pricing to recover rising packaging, ingredient and transportation costs. Case volume for the quarter was slightly below a year ago, but increased 6.4% compared to pre-pandemic levels. These times are stressful and some of us that gave this unique company its uniqueness are also expert at making lemonade . . . LimonCello!”

 

 

 

 

-more-

 

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National Beverage Corp.

Page 2

 

 

“Innovation and creativity are key at National Beverage, and we alone have continued to bring distinctive taste and stunning packaging to consumers from coast to coast. Our uniqueness is why our velocity per point of distribution exceeds major competitors. We recently announced our newest, innovative flavor – Cherry Blossom – representing freshness, splendor and delicate beauty. LaCroix Cherry Blossom will be available at select retailers nationwide later this month.”

 

“All-time inflation deterrents such as our iconic sodas, Shasta Mountain and Faygo Motown, have continuously proven themselves and have brand loyalty that is undeniable. LaCroix also has a new undeniable tagline – LaCroix . . . Our Difference Makes All The Difference!! Yes”, concluded a company spokesperson.

 

 

 

 

 

“Patriotism” – If Only We Could Bottle It!

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

-more-

 

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National Beverage Corp.

Page 3

 

National Beverage Corp.

Consolidated Results for the Periods Ended

January 29, 2022 and January 30, 2021 

 

 

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

Jan. 29, 2022

    

Jan. 30, 2021

    

Jan. 29, 2022

    

Jan. 30, 2021

  
                                 

Net Sales

   $ 258,923     $ 245,931     $ 853,793     $ 811,107  
                                 

Net Income

   $ 31,068     $ 36,687     $ 124,168     $ 135,015  
                                 

Earnings Per Common Share

                                

Basic

   $ .33     $ .39     $ 1.33     $ 1.45  

Diluted

   $ .33     $ .39     $ 1.33     $ 1.44  
                                 

Average Common Shares Outstanding

                                

Basic

     93,329       93,296       93,319       93,273  

Diluted

     93,611       93,610       93,608       93,624  

 

 

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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