Frederick Brewing's loss nearly doubles in 4th quarter Beverages

April 02, 1998|BY A SUN STAFF WRITER

Frederick Brewing Co., brewer of Blue Ridge, Hempen, Wild Goose and Brimstone beers, reported a fourth-quarter loss of $2.9 million yesterday, compared with $1.5 million a year earlier.

The company attributed the wider loss to higher operating costs and interest expense.

It also included a nonoperating charge of $1.3 million for dividends on preferred stock that did not apply in 1996.

Sales for the three months ended Dec. 31 were $1.1 million, a 123 percent increase over the 1996 quarter. The results do not include sales of the Wild Goose or Brimstone brands, which were acquired this year.

For the year, the company posted a loss of $8 million, compared with $2.6 million in 1996. Sales were $3.3 million, up from $1.9 million in the previous year.

Pub Date: 4/02/98

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