BRIEF: Vodka company changes financial forecast

Mon. October 12, 2009; Posted: 06:02 PM

Oct 12, 2009 (The Philadelphia Inquirer - McClatchy-Tribune Information Services via COMTEX) -- CEDC | Quote | Chart | News | PowerRating -- Central European Distribution Corp. today raised its 2009 sales forecast but lowered its earnings projection.

The Bala Cynwyd maker and distributor of vodka said it was making the changes because of its recent acquisition of additional stakes in two Russian producers, Parliament and the Russian Alcohol Group, a July public sale of more of the company's stock, and foreign currency rate changes.

Sales for the year now are forecast at $1.58 billion to $1.70 billion instead of a range of $1.55 billion to $1.68 billion.

Earnings will be $2.35 to $2.50 per share instead of the previously forecast $2.40 to $2.65 per share, Central European Distributors said.

It is focusing on boosting its market share and the profit margin on its products, and lowering its debt, said William Carey, company president and chief executive officer.

The company also projected its 2010 sales at $1.8 billion at $2 billion, and its earnings at $3 to $3.15 per share.

Central European Distributors produces vodka in Poland and distributes it worldwide. It also makes vodka in Hungary and Russia.

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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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