The Boston Beer Company, Inc. (NYSE: SAM) reported second quarter 2018 net revenue of $273.1 million, an increase of $25.2 million or 10.2%, from the same period last year. Net income for the second quarter was $23.5 million, or $1.98 per diluted share, a decrease of $5.6 million or $0.37 per diluted share, from the second quarter of 2017. This decrease was primarily due to increased advertising, promotional and selling expenses and lower gross margins that were partially offset by increases in net revenue and lower income taxes.

Net revenue for the 26-week period ended June 30, 2018 was $463.6 million, an increase of $53.9 million, or 13.2%, from the comparable 26-week period in 2017. Earnings per diluted share for the 26-week period ended June 30, 2018 were $2.76, a decrease of $0.03 from the comparable 26-week period in 2017.

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