false 0000069891 0000069891 2020-09-10 2020-09-10
Washington, DC 20549
to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of report (Date of earliest event reported): September 10, 2020
National Beverage Corp.

(Exact Name of Registrant as Specified in Its Charter)

(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)
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 September 10, 2020, National Beverage Corp. issued a press release announcing financial results for the first quarter ended August 1, 2020. 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
      Exhibit 104 Cover Page Interactive Data File (formatted as Inline XBRL)
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.
/s/ George R. Bracken
George R. Bracken
Executive Vice President – Finance
(Principal Financial Officer)
Date: September 11, 2020
Press release dated September 10, 2020 announcing the Company’s financial results for the first quarter ended August 1, 2020
Cover Page Interactive Data File (formatted as Inline XBRL)

Exhibit 99.1


For Immediate Release

Contact: Office of the Chairman, Grace Keene






FORT LAUDERDALE, FL, September 10, 2020 . . . National Beverage Corp. (NASDAQ:FIZZ) today announced impressive results for its first quarter ended August 1, 2020:




Net sales were $293 million – the highest quarterly sales figure in the company’s history, an 11.3% increase from last year;



Gross profit was a record $117 million, a 21.4% increase from the prior year;



Net income increased $17 million to $51 million;



Earnings per share increased 49% to $1.10; and



Cash was $353 million at quarter-end, an increase of $150 million for the last twelve months.


Our balance sheet continued to strengthen with quarter-end cash plus shareholders’ equity of $509 million both reaching all-time highs. With cash now representing 50% of assets and total liabilities less than half of equity, our financial strength will allow us to invest in future brand innovations and capacity expansion while maintaining capital deployment flexibility.


National Beverage results were driven by a 16% volume increase in Power+ brands, the result of strong consumer commitment to health, trust and authenticity. The LaCroix brand led growth and outpaced the category in tracked channels throughout the quarter with market share reflecting sequential growth. Our new LaCroix offerings, LimonCello, Pastèque and Hi-Biscus, bring consumers iconic innovation with extraordinary tastes and unique essences, establishing record volume movement.










National Beverage Corp.

Page 2



Highlights from a Recent Strategy Meeting



Our brands, management philosophy, sustainable cash generation and innovative mastery have positioned National Beverage to successfully challenge competitive pressures in today’s health-conscious environment.



We are developing flavors new to the category that are far reaching in sensory, elegant in name, extraordinary in taste and capture the very soul of the consumer.



All variables came together as though meant to be; moving the innovative needle high on the scale. We have proven that palate preference defines the ultimate choice.



Others try to outsmart us, overtake us, and outspend us by millions trying to unseat LaCroix – with its iconic innovation in flavors and packaging, extraordinary taste and essences and its dedicated, loyal following yet LaCroix is and will remain the leader.


In conclusion, as we stated in our recently mailed shareholder letter, “We begin fiscal 2021 with more purpose, more passion and more determination . . . Our indomitable spirit and our steadfast philosophy protect our balance sheet, cash flow and the equity of our devoted shareholders.”






National Beverage Corp.

Page 3


National Beverage Corp.


Consolidated Results for the Periods Ended


August 1, 2020 and July 27, 2019


(in thousands, except per share amounts)


Three Months Ended


August 1, 2020


July 27, 2019


Net Sales

  $ 293,367     $ 263,568  

Net Income

  $ 51,164     $ 34,542  

Earnings Per Common Share



  $ 1.10     $ .74  


  $ 1.09     $ .74  

Average Common Shares Outstanding



    46,624       46,646  


    46,754       46,880  



  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.