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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): July 29, 2005
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National Beverage Corp.
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(Exact Name of Registrant as Specified in Its Charter)
Delaware
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(State or Other Jurisdiction of Incorporation)
1-14170 59-2605822
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(Commission File Number) (IRS Employer Identification No.)
One North University Drive
Fort Lauderdale, Florida 33324
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(Address of Principal Executive Offices) (Zip Code)
(954) 581-0922
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(Registrant's Telephone Number, Including Area Code)
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(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 July 29, 2005, National Beverage Corp. issued a press release announcing its
financial results for the fiscal year ended April 30, 2005. This release is
furnished herewith as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(c) Exhibit 99.1 Press release dated July 29, 2005 announcing the
Company's earnings for the fiscal year ended April
30, 2005.
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.
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(Registrant)
Date: July 29, 2005 By: /s/ Dean A. McCoy
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Dean A. McCoy
Senior Vice President -
Chief Accounting Officer
EXHIBIT INDEX
99.1 Press release dated July 29, 2005 announcing the Company's earnings for
the fiscal year ended April 30, 2005.
Exhibit 99.1
National Beverage Corp. Presents Synoptic Review
FT. LAUDERDALE, Fla.--(BUSINESS WIRE)--July 29, 2005--National
Beverage Corp. (AMEX:FIZ) issued the following announcement.
As the company is about to conclude the first quarter of FY 2006
(the beginning of our 20th year), the lessons of the past and current
facts concerning the soft drink industry and our business are quite
paradoxical. Therefore, we have decided to break from our traditional
reporting format.
These are the more commanding facts about the state of National
Beverage Corp. and its business -
-- Team National is the best at developing and producing the
finest flavored soft drinks.
-- National Beverage Corp. owns most of its manufacturing
facilities and distributes through a multi-faceted hybrid
system to its retail partners.
-- On April 28, 2005, National Beverage Corp. received notice
confirming that, as a class member in the HFCS litigation, a
portion of our claim had been approved. On June 30, 2005,
payment of $7.7 million was received. While a part of these
funds represents a reimbursement for amounts paid in FY 2005,
all of the $7.7 million and any other funds forthcoming will
be recorded as a cost of sales reduction in FY 2006.
-- As of this writing, cash balances are approximately $70
million with virtually 'zero' debt.
-- National Beverage Corp.'s balance sheet has strengthened to
nearly surpass the one-time dividend payout of $38.4 million
on April 30, 2004.
-- National Beverage Corp.'s revenues for FY 2005 were $495.6
million as compared to revenues of $512.1 million for the like
period of FY 2004.
-- National Beverage Corp.'s earnings for FY 2005 were $16.9
million or $.45 per share as compared to $18.7 million or $.51
per share for the prior year.
-- National Beverage Corp.'s financial results were affected by
extraordinary events, including reduced consumption of
carbonated soft drinks due to the "sticker shock" effect of
increased pricing resulting from industry efforts to offset
rising costs of raw materials. In addition, changing
lifestyles and tastes are affecting the soft drink market
resulting in a general softness in carbonated soft drinks.
First quarter is reflecting some reversing of the previous
declines in FY 2004 - 2005.
-- National Beverage Corp. has introduced two new soft drink
alternatives and has strengthened its line of juice, juice
drinks and flavored waters. Plans to further engage in
soft-drink innovations are presently in trials and will go to
market soon.
-- Raw materials, with the exception of energy costs, are
beginning to stabilize and non-carbonated, energy-related
alternative drinks are surpassing expectations in the first
quarter of FY 2006.
-- Envisioning the refreshing times that our beverages help to
create or celebrate . . . and knowing that the diligent energy
expended on behalf of the business is to reward our investors
... is fun!
-- We of Team National who manage our public company servicing
the soft-drink industry during the past couple of years ...
not fun!
While a bit lengthy - these are the pertinent facts relative to
the business and condition of our wonderful company - National
Beverage Corp!
National Beverage produces soft drinks, bottled waters, juices and
juice products and is highly recognized for a line of refreshing
flavors through its popular brands: Shasta(R), Faygo(R), Ritz(R),
Everfresh(R), Mr. Pure(R), LaCroix(R) and Rip It(R).
Fun & Flavor . . . the National Beverage Way
National Beverage Corp.
Consolidated Results for the Fiscal Year Ended
April 30, 2005 and May 1, 2004
(in thousands, except per share amounts)
Fiscal Year Ended
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April 30, May 1,
2005 2004
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Net Sales $495,572 $512,061
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Net Income $16,886 $18,691
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Net Income Per Share:
Basic $.45 $.51
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Diluted $.44 $.49
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Average Common Shares Outstanding:
Basic 37,579 36,937
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Diluted 38,254 38,166
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This press release includes forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995. Such
forward-looking statements involve known and unknown risks,
uncertainties and other factors which may cause actual results,
performance or achievements of the Company to be materially different
from any future results, performance or achievements expressed or
implied by such forward-looking statements. Such factors include
fluctuations in costs, changes in consumer preferences and other items
described in the Company's Securities and Exchange Commission filings
and the Company undertakes no obligation to update the forward-looking
statements.
CONTACT: National Beverage Corp., Fort Lauderdale
Grace A. Keene, 954-581-0922