Slide 10 of 24
Notes:
- We’re encouraged by our results in the September quarter
- Steps taken last year after 9-11 are paying off:
- Decreased our debt
- Reduced capital expenditures
- Improved cost structure
- Implemented several sales and consumer initiatives that I’ll discuss shortly
- Wholesale depletions grew 3.5%
- Wholesale inventories declined to 45 days from 50 LY
- Q1 shipments rose 25%, and revenues 22%
- Regained earnings growth momentum with $0.58 in EPS and net income of $9.5M. Although $0.07 of EPS was due to favorable timing
