Cott swings to Q1 loss
Canada-based beverage maker Cott Corp. (NYSE:COT) announced early Monday that it swung to a first-quarter net loss of $20.7 million, or $0.29 per share, versus earnings of $4.8 million, or $0.07 per share, a year earlier. Wall Street analysts anticipated earnings of $0.03 per share. The company, which provides retailer-branded soft drinks, said its quarterly eight-ounce case volume declined 15% to 271.1 million, compared to 317.8 million a year earlier. Selling, general and administrative expenses rose 41% to $53 million, from $37.7 million a year earlier.
In Friday morning trading, COT shares are down 2.66%, or $0.07, at $2.56. For detailed price information and recent news stories about Cott, click COT.
About the Author
Reporter Will Atkinson is based in SmallCapInvestor.com's Washington, D.C. bureau.
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