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Brown-Forman Quarterly Profit Climbs 17% on Strong Jack Daniels Sales

The maker of Jack Daniels and other premium whiskeys saw its profits climb double digits in the latest quarter, up 17% thanks to increased sales. The Kentucky based producer posted profits of $132 million, or $0.62 a share. That's $0.04 better than Wall Street expectations. Sales climbed 3% to $893 million. The other bright spot is the improved margins - both operating margin and gross margin saw improvements. Looking ahead, management expects the earnings for its 2015 fiscal year to come in between $3.25 and $3.45 a share, and analysts believe the company will have no problem delivering on such a promise. Brown-Forman is also in a position to benefit from the growing demand for whiskey.