The Coca-Cola Company Reports Fourth Quarter and Full Year 2007 Results
Earnings per share for the year were $2.57, an increase of 19 percent versus the prior year on a reported basis, and $2.70 after considering items impacting comparability, an increase of 14 percent.
14/02/08 The Coca-Cola Company reported fourth quarter earnings per share of $0.52, an increase of 79 percent versus the prior year on a reported basis, and $0.58 after considering items impacting comparability, an increase of 12 percent. Earnings per share for the quarter included a net charge of $0.06 per share primarily related to restructuring charges and asset write-downs. Earnings per share for the fourth quarter of 2006 were $0.29 and included a net charge of $0.23 per share primarily related to a non-cash impairment charge at Coca-Cola Enterprises Inc. ("CCE"), an equity investee.
Earnings per share for the year were $2.57, an increase of 19 percent versus the prior year on a reported basis, and $2.70 after considering items impacting comparability, an increase of 14 percent. Earnings per share for the year included a net charge of $0.13 per share primarily related to restructuring charges and asset write-downs. Full year 2006 earnings per share were $2.16 and included a net charge of $0.21 per share primarily related to a non-cash impairment charge at CCE.
"This has been a year of significant accomplishment," said Neville Isdell, chairman and chief executive officer, The Coca-Cola Company. "We have delivered strong business results and increased value to our shareowners by expanding our consumer appeal across our beverage brands and connecting in very meaningful ways with the communities we serve. By successfully executing our clearly defined strategies with our bottling partners, we delivered 6 percent unit case volume growth for the year and four consecutive quarters of double-digit earnings per share growth.
"Importantly, this growth was balanced across our geographies and portfolio of brands. On a worldwide basis, sparkling beverage volume increased a solid 4 percent, and still beverages increased 12 percent. We remain focused on driving sustainable long-term growth and value for our shareowners, while delivering against our stakeholder needs each day. With our strategies in place, our expanded brand portfolio and our geographic balance, we are well prepared to respond to opportunities and challenges ahead and anticipate another good year in 2008."
President and Chief Operating Officer Muhtar Kent said, "Clearly, our strategies are right and our execution is working as 2007 was a successful year for The Coca-Cola Company . As evident from our results, we consistently delivered on our promise of executing against our growth agenda. Our international business, led by the emerging markets, continues to drive our overall growth, while stabilizing key markets like Japan , the Philippines and North America underscores our ability to re-energize major markets. Our three-cola strategy has revitalized the sparkling category, and we successfully expanded our still portfolio through key acquisitions like glacéau, Fuze and Jugos del Valle, while continuing to build our innovation pipeline. Additionally, our focus on effectiveness and efficiency has allowed us to reinvest in top-line growth. We continue to build a much more efficient, dynamic business in which our associates share an unyielding commitment to winning around the world.
"I am pleased with the progress we made against our 2007 priorities. We are now better positioned to capture the significant growth opportunities. As we look to 2008, the foundation is in place to deliver another successful year of balanced geographic and brand growth for The Coca-Cola Company."
