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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): September 13, 2006
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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 September 13, 2006, National Beverage Corp. issued a press release announcing
its financial results for the first quarter ended July 29, 2006. This release is
furnished herewith as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits
(c) Exhibit 99.1 Press release dated September 13, 2006 announcing the
Company's earnings for the first quarter ended July 29,
2006.
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: September 13, 2006 /s/ Dean A. McCoy
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Dean A. McCoy
Senior Vice President -
Chief Accounting Officer
EXHIBIT INDEX
99.1 Press release dated September 13, 2006 announcing the Company's earnings
for the first quarter ended July 29, 2006.
Exhibit 99.1
National Beverage Corp. Rebounds with Strongest First Quarter
FORT LAUDERDALE, Fla.--(BUSINESS WIRE)--Sept. 13, 2006--National Beverage
Corp. (AMEX:FIZ) today reported financial results for its first quarter ended
July 29, 2006. Compared to the first quarter of the prior year and:
-- Notwithstanding war induced energy premiums and other related raw
material costs:
-- Revenues grew 5.5% to $150.1 million;
-- Excluding the sweetener settlement received in the prior year,
operating income increased 79% to $14.9 million;
-- Basic earnings per share were $.26 compared to $.14 for the prior
period ($.26 including the sweetener settlement):
Reconciliation for Comparability:
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First Qtr. First Qtr.
FY 2007 FY 2006
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Comparable Net Income Per Share - Basic $.26 $.14 (a)
Proceeds of Settlement -- .12
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Reported Net Income Per Share - Basic $.26 $.26
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"On the surface, what appears to be a good quarter was actually an
excellent one when you scrutinize the circumstances," stated Chairman and Chief
Executive Officer, Nick A. Caporella. "While no one should make direct
comparisons because last year's first quarter was impacted by the $7.2 million
sweetener settlement proceeds, record cost increases and war-related abnormal
charges, there is no question that the operating momentum of the last three
quarters has pushed forward to the first quarter of FY 2007. Led by the
triple-digit growth of Rip It energy beverage, the performance of our
higher-margin energy lines and portfolio of juice drinks more than offset the
industry-wide softer demand for traditional carbonated soft drinks," continued
Mr. Caporella.
"We are continuing to expand distribution of our unique Rip It and
PowerBlast energy powders and are focused on developing these and other distinct
methods to deliver exciting products to the 'alternative demanders'...such as
our NEW and FREEKY energy beverage -- Freek!! We are innovative and committed to
developing new ideas that taste good," concluded Mr. Caporella.
National Beverage is a UNIQUE BEVERAGE COMPANY that innovates and produces
energy drinks, powders, 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 and Vitality...the National Beverage Way
(chart)
(a) Comparable Net Income and Comparable Net Income Per Share are non-GAAP
measures which exclude the previously disclosed sweetener litigation
settlement of $7.162 million ($4.448 million after tax benefit, or $.12 per
share) which was received in the first quarter of the previous year. This
non-GAAP financial information is provided to assist investors in
understanding business trends and items that are not necessarily indicative
of ongoing results. Non-GAAP measures are used by management to evaluate
performance, but are supplements to, and not alternatives for, results
reported in accordance with GAAP.
National Beverage Corp.
Consolidated Results for the Three Months Ended
July 29, 2006 and July 30, 2005
(in thousands, except per share amounts)
Three Months Ended
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July 29, July 30,
2006 2005
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Net Sales $150,136 $142,363
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Net Income $9,759 $9,683
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Comparable Net Income $9,759 $5,235 (a)
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Net Income Per Share:
Basic $.26 $.26
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Diluted $.25 $.25
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Comparable Net Income Per Share:
Basic $.26 $.14 (a)
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Diluted $.25 $.14 (a)
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Average Common Shares Outstanding:
Basic 38,111 37,619
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Diluted 38,378 38,259
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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 and risk
factors described in the Company's Securities and Exchange Commission filings
and the Company undertakes no obligations to update the forward-looking
statements.
CONTACT: National Beverage Corp., Fort Lauderdale
Grace A. Keene, 954-581-0922