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): August 24, 2016

 

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)

 

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 August 24, 2016, National Beverage Corp. issued a press release announcing financial results for the period ended July 30, 2016. This release is furnished herewith as Exhibit 99.1 hereto.

 

  

Item 9.01 Financial Statements and Exhibits

 

(c) Exhibit 99.1

Press release dated August 24, 2016 announcing the Company’s financial results for the period ended July 30, 2016.

 

 

 

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/ Gregory P. Cook
	Gregory P. Cook
	Vice President - Controller and Chief Accounting Officer

 

 

Date: August 25, 2016          

 

 

EXHIBIT INDEX

 

99.1

Press release dated August 24, 2016 announcing the Company’s financial results for the period ended July 30, 2016.

Exhibit 99.1

 

 

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

---

 

NATIONAL BEVERAGE CORP.  

CONFIRMS PREDICTED 

HISTORIC FIRST QUARTER 

 

FORT LAUDERDALE, FL, August 24, 2016 . . . National Beverage Corp. (NASDAQ: FIZZ) today confirmed a triumphant first quarter of its Fiscal Year 2017.

 

“When does authenticity stop being a trait and become a stalwart description?” was the question posed to Nick A. Caporella, Chairman and Chief Executive Officer. “When absolute performance demands it,” was his answer!

 

(in millions except EPS)

For the first quarter ended July 30, 2016 -

 

						Op.				Net
		Revenues				Income				Income				EPS				EBITDA *				Cash
FY 2017		$	217			$	44			$	29			$	0.62			$	47			$	133
Growth			17	%			69	%			69	%			68	%			62	%			100	%

 

Over the past couple of years, National Beverage has indicated that the industry was evolving and the company was heavily engaged in a metamorphic transformation. Well, FY2016 and first quarter FY2017 definitely confirms this – leaving no doubt that National Beverage is leading this healthy revolution.

 

“Much is happening to us, for us and with us that point to and test our authenticity. From our founding through our last preview press release dated August 10, 2016, we have strived to be genuine and extremely straightforward in our views with our consumers and shareholders. When questioned about the value of our brands or our specific new course within the industry, we articulated with exceptional results,” emphasized Caporella.

 

-more-

 

 

 

“We coined the term ‘Innocent’ and placed it on our packages. We continue to develop and design as though we are stimulated directly by our consumers. We are generous and rewarding to our employees, consumers, community and shareholders because we want to be! We manage National Beverage like we own it, because we do. We work to provide such an exciting future as though we were the only shareholders of this wonderful enterprise, because we nearly are! We are the future of America because we offer better choices for better health. Our brands, LaCroix and Shasta Sparkling Water SDA (soft drink alternative), are improving lives while smartly stimulating consumer self-esteem. Additional capacity and expanding distribution are intensifying our future revenues.

 

While some play Truth or Dare, we play . . . Authentic and Healthy,” concluded a proud Caporella. 

 

National Beverage’s iconic brands are the genuine essence . . . of America.

 

“Patriotism” – If Only We Could Bottle It!

 

Fun, Flavor and Vitality . . . the National Beverage Way

 

 

 

-more-

 

 

National Beverage Corp.

Consolidated Results for the Periods Ended

July 30, 2016 and August 1, 2015

 

Balance Sheet Statistics						Three Months Ended
July 30, 2016 vs. August 1, 2015						July 30, 2016				August 1, 2015
						(in thousands, except per share amounts)
Cash		Net Sales			$	217,108			$	185,386
$132.6 million - Up 100%
		Net Income			$	28,995			$	17,113
Working Capital
$176.7 million - Up 57%		Earnings Per
		Common Share
Total Assets		Basic			$	.62			$	.37
$350.3 million - Up 30%		Diluted			$	.62			$	.37
		Average Common Shares
		Outstanding
		Basic				46,556				46,397
		Diluted				46,767				46,591

 

 

 

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. The Company disclaims an obligation to update any such factors or to publicly announce the results of any revisions to any forward-looking statements contained herein to reflect future events or developments.

 

*Although the Company reports its financial results in accordance with accounting principles generally accepted in the United States ("GAAP"), management believes that the disclosure of EBITDA, a non-GAAP financial measure, may provide users with additional insights into the operating performance of the business. EBITDA (in millions) for the quarter ended July 30, 2016 of $47.1 is calculated by adding the following expenses back to Net Income: Depreciation and Amortization of $3.1; Net Interest Expense of $0; and Provision for Income Taxes of $15.1.