Coca-Cola Bottling Swings To Profit

(RTTNews) - Coca-Cola Bottling Co. Consolidated (COKE) on Wednesday reported fourth-quarter net earnings of $3 million or $0.32 per share compared with a loss of $4.6 million or $0.50 per share last year.

Results for the recent quarter included $3.2 million of after-tax expenses related to franchise territory expansion, while the prior year had $7.3 million of after-tax losses due to early settlement of certain pension obligations.

On a comparable basis, earnings for the quarter totaled $0.64 per share compared with $0.45 per share a year ago.

Analysts polled by Thomson Reuters estimated earnings of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter were $440.6 million compared with $394.3 million in the prior year.

CEO Frank Harrison said, "We are very pleased with our accomplishments in 2014, which was a transformational year for the Company. We completed the transitions of the refranchised territory in Tennessee from The Coca-Cola Company and have reached final definitive agreements covering all of the additional territory in Tennessee, Kentucky and Indiana."