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Anheuser meets Street
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February 7, 2001: 3:41 p.m. ET
Brewer says strong beer sales in 4Q helped boost full-year results
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NEW YORK (CNNfn) - Anheuser-Busch Cos. reported a fourth-quarter profit Wednesday that was in line with Wall Street's expectations as the world's largest brewer capped off a year in which it shipped record 105 million barrels of beer.
The St. Louis-based company, which also operates several U.S. theme
parks, logged fourth-quarter net income of $209.1 million, or 23 cents a share. That's up from $191 million, or 20 cents per share, during the same period a year earlier and is in line with analysts' projections, according to earnings tracker First Call.
Fourth-quarter net sales rose to $2.79 billion from $2.72 billion a year ago. Gross sales totaled $3.26 billion, up from $3.2 billion in the fourth quarter of 1999.
For all of 2000, Anheuser-Busch posted net income of $1.6 billion, or $1.69 per share, on total revenue of $14.3 billion. That compares with earnings of $1.4 billion, or $1.47 per share, on $13.7 billion in sales during 1999.
"Anheuser-Busch had an outstanding year in 2000, selling over 105 million barrels of its beer brands worldwide and delivering 15 percent earnings per share growth," Chairman and President August A. Busch III said. 
On Jan. 8, Anheuser-Busch estimated that its domestic beer shipments had risen 2.7 percent in 2000 from a year earlier to 98.3 million barrels, helped by sales of Budweiser and Bud Light.
The company said beer sales in the fourth quarter were stronger than expected, with domestic revenue per barrel rising over 2.6 percent from a year earlier.
Domestic beer sales to wholesalers increased 2.7 percent for the year, led by the Bud brands, with Bud Light registering its ninth consecutive year of double-digit growth, Anheuser-Busch said.
In January, the company agreed to sell SeaWorld Ohio to Six Flags Inc. for $110 million cash. Anheuser-Busch said the park will cease operations as SeaWorld later this month and reopen this spring under Six Flags ownership.
Executives said profit from the sale will not significantly impact the company's earnings per share in 2001.
Anheuser-Busch (BUD: Research, Estimates) shares were up $1.50 at $42.03 in late afternoon trade Tuesday. 
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