CHARLOTTE, N.C.--(BUSINESS WIRE)--Coca-Cola Bottling Co. Consolidated today announced it earned $59.0 million, or basic net income per share of $6.35, on net sales of $2.3 billion for the fiscal year ended January 3, 2016 (“fiscal 2015”), compared to net income of $31.4 million, or basic net income per share of $3.38, on net sales of $1.7 billion for the fiscal year ended December 28, 2014 (“fiscal 2014”).
The results for fiscal 2015 and fiscal 2014 include certain items which are either events that are not expected to recur or are recurring items that have changed materially period-to-period. Certain of these items relate to the Company’s expanded distribution territory and to significant work by the Company on further expanding its distribution territory and preparing to purchase manufacturing assets from The Coca-Cola Company.
On a comparable basis, the Company earned $47.3 million in fiscal 2015, or comparable basic net income per share of $5.09, versus $35.6 million in fiscal 2014, or comparable basic net income per share of $3.84.
The Company earned $4.3 million, or basic net income per share of $0.46, on net sales of $619.7 million for the fourth quarter of fiscal 2015, compared to net income of $3.0 million, or basic net income per share of $0.32, on net sales of $440.6 million for the fourth quarter of fiscal 2014.
The results for the fourth quarters of fiscal 2015 and fiscal 2014 include certain items which are either events that are not expected to recur or are recurring items that have changed materially period-to-period. Certain of these items relate to the Company’s expanded distribution territory and to significant work by the Company on further expanding its distribution territory and preparing to purchase manufacturing assets from The Coca-Cola Company.
On a comparable basis, the Company earned $7.0 million in the fourth quarter of fiscal 2015, or comparable basic net income per share of $0.75, versus $5.4 million in the fourth quarter of fiscal 2014, or comparable basic net income per share of $0.58.
“We are very thankful for our dedicated employees and their great accomplishments in 2015, which was another transformative year for the Company,” said Frank Harrison, Chairman and CEO. “Our financial results reflect solid performance across our business while we continued to expand our geographic footprint through the acquisition of several new distribution territories. We are excited about 2016 as we further expand our distribution territory and acquire additional production centers as part of The Coca-Cola Company’s System of the Future refranchising. Our growing footprint enables us to serve more consumers, employees, customers, and the communities in which they live.”
Hank Flint, President and COO, added, “Our strong 2015 performance reflects the dynamic growth we are experiencing due to territory expansion and organic growth in our legacy territories. Our total revenues on a comparable basis grew by 10.0% in large part due to strong performance in our energy and still beverage portfolios. We are pleased with the integration of our new distribution territories and particularly thank employees in our new territories for their leadership and outstanding commitment and contributions to our overall success.”
