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The Coca-Cola Company Message Board

  • goordo goordo Apr 22, 1998 5:59 AM Flag

    lost its fizz

    Apr 21, 1998 (6:46 PM ET) - The Motley Fool Evening News

    Atlanta-based beverage bottler Coca-Cola Enterprises (NYSE:CCE - news) fell slightly, losing $1 1/8 to $40 after reporting a
    first quarter loss of $0.13 per share compared with a pro forma Q1 1997 loss of $0.18 per share and ahead of analysts' estimates.
    The company was helped by its $50 million buyback of 1.5 million shares. Coca-Cola's (NYSE:KO - news) anchor bottler and
    distributor (44% owned by Coke) was unable to grow sales per case due to competitor-driven discounting, though consolidated bottle and
    can volume rose 8%. The company's cash operating profit (defined as earnings before deducting interest, taxes, depreciation,
    amortization, and other nonoperating items) increased about 7% year-on-year, adjusting for acquisitions, currency changes, and the
    additional four selling days in Q1 1998. Still, the company said it is "on track" to meet 10% cash operating profit growth for the
    year. Although the company expects Q2 cash operating profit to grow more slowly than in Q1 due to continued infrastructure
    spending and unusually strong prior-year results, it anticipates the growth rate will exceed 10% in the second half of t

42.05-0.69(-1.61%)Sep 26 4:01 PMEDT