Thursday, June 9, 2011

Brick Brewing Announces Q1 Results, Including EBITDA(X) of $595,000

Waterloo, ON

Brick Brewing Co. Limited ("Brick" or the "Company") (TSX: BRB), Ontario's largest Canadian-owned and Canadian-based publicly held brewery, today released its financial results for the first quarter ended May 1, 2011. Annual meeting details are included in this press release to assist shareholders that may be affected by the rolling postal strike.

"Our beer portfolio continued to be very strong in Q1 after a tremendous finish to fiscal 2011. The Laker trademark, which is our largest brand family, is positioned as the best beer value in Ontario and grew 25.8% year over year," said George Croft, President and CEO.

"The Seagram Coolers acquisition was significant for Brick, and solidifies our foundation for future growth," said Croft. "Our team is hard at work with changes that celebrate the rich tradition of, and potential for the Seagram trademark."

Financial highlights are as follows:

- Net revenues for the first quarter of fiscal 2012 were $8.1 million
compared to $7.0 million in the first quarter of fiscal 2011.

- Sales volumes for Brick beer brands increased by 12.4% compared to
the first quarter of fiscal 2011. Brick drove this sales growth
despite unseasonably cool and rainy weather, which slowed sales for
the overall industry.

- Gross profit percentage declined slightly from 22.1% to 20.7%, due to
one-time costs related to Seagram trademark integration and
preparations for a Global Food Safety certification. These one-time
costs are expected to provide ongoing benefits to the company.

- EBITDA* for the period ended May 1, 2011 was $0.6 million, with a
net loss of $0.1 million.
*Net Earnings to Earnings Before Interest Taxes Depreciation and Amortization (EBITDA)


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