Spirits company Beam (NYS: BEAM) reported its 3Q results today. According to the company's official press release, its net sales totaled $627.5 million, with net income of $76.5 million ($0.47 per share). Those figures were 8% higher and 82% lower, respectively, on a year-over-year basis. However, 3Q 2011's net income was distorted by a nearly $500 million gain from discontinued operations, without which the company would have posted a loss.
Analysts polled by Thomson Reuters had anticipated sales of $607 million, and an EPS of $0.55 per share. The company pointed out in its press release that diluted EPS from continuing operations came in at $0.57 for the quarter.
Beam's signature product is Jim Beam whiskey. The company has a range of liquor brands across all categories. This portfolio includes Maker's Mark whisky, Curvoisier cognac, and Sauza tequila.
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Eric Volkman has no positions in Beam. The Motley Fool owns shares of Beam. Motley Fool newsletter services recommend Beam. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.