Brown-Forman posts higher 1Q profit

LOUISVILLE, Ky. (AP) ? Brown-Forman Corp.'s first-quarter profit rose by 6 percent as its flagship Jack Daniel's lineup posted double-digit revenue growth and the liquor company posted continued strong sales overseas.

The Louisville-based company also reported higher volumes Wednesday for its Chambord vodka, Herradura, Sonoma-Cutrer and Woodford Reserve brands, as well as sales gains from the introduction of Jack Daniel's Tennessee Honey.

The company says those gains were somewhat offset by declines in Southern Comfort, el Jimador and Korbel.

For the three months ended July 31, the company reported net income of $118.1 million, or 81 cents per share. That's up from $111.4 million, or 76 cents per share, a year ago.

Net sales rose 13 percent to $840.3 million.

Analysts expected earnings of 83 cents per share on revenue of $767.2 million.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/f70471f764144b2fab526d39972d37b3/Article_2011-08-31-Earns-Brown-Forman/id-f664e50545414005a51720bbd23858a9

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