Dr Pepper Snapple Group Inc's
The soft drink maker also forecast a full-year profit that could top analysts' estimates as its brands, which include 7UP, Dr Pepper and A&W, outperform the overall industry as cash-strapped consumers seek out value-priced drinks.
Our (carbonated soft drink) case volume contracted only slightly at a time when liquid refreshment beverages declined low single-digits, Chief Executive Larry Young said in a statement. Weak demand for our premium products, especially Snapple, continued during the fourth quarter and into 2009.
On a net basis, the company's lost $621 million, or $2.44 per share, in the fourth quarter, versus a net profit of $138 million, or 54 cents per share, a year ago.
Excluding impairment and restructuring charges, the company earned 39 cents per share, topping analysts' average estimate of 37 cents, according to Reuters Estimates.
Net sales were $1.38 billion, down slightly from $1.39 billion a year ago, hurt by the stronger U.S. dollar, which reduces the value of international sales.
Excluding the impact of losing U.S. distribution of vitaminwater and Monster Energy drinks to larger rival Coca-Cola Co
The company forecast full-year earnings of $1.59 to $1.67 per share, excluding a one-time gain of 12 cents per share related to the termination of a contract with Hansen Natural Corp
Analysts on average were expecting $1.60 per share for the full year, according to Reuters Estimates.
(Reporting by Martinne Geller; Editing by Steve Orlofsky)