Central European Distribution's Q2 net sales up 57%

Tue. August 05, 2008; Posted: 09:00 AM

Aug 05, 2008 (Datamonitor via COMTEX) -- CEDC | Quote | Chart | News | PowerRating -- Central European Distribution, a distributor of alcoholic beverages, has reported net sales of $421.3 million for the second quarter ended June 30, 2008, a 57% rise compared to $268.6 million for the same period of 2007.

Net income (on a US GAAP basis) for the second quarter was $46.8 million, or $1.08 per fully diluted share, compared to $19.9 million, or $0.49 per fully diluted share, for the same period of 2007. Gross profit was $103.73 million, compared to $55.55 million for the second quarter of 2007.

The company reported a net income of $65.33 million, or $1.54 per fully diluted share, for the first six months ended June 30, 2008, compared to $14.79 million, or $0.37 per fully diluted share, for the same period of 2007.

Net sales were $734.9 million for the first six months of 2008, compared to $496.85 million for the same period of 2007. Gross profit was $169.9 million, compared to $101.87 million for the first six months of 2007.

William Carey, president and CEO of Central European Distribution, said: "With the first full quarter of consolidation of our Parliament business and approximately one month of earnings from our Whitehall operations we are pleased to see continuing strong underlying growth trends in our overall business."

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For full details on Central European Dist (CEDC) click here. Central European Dist (CEDC) has Short Term PowerRatings of 6. Details on Central European Dist (CEDC) Short Term PowerRatings is available at This Link.

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