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TAMPA — A fourth quarter boost in both revenue and the bottom line pushed shares of Cott Corp. to its highest prices in nearly two years.
Shares for the Tampa-based beverage manufacturer closed Tuesday at $9.31, up 17% from the day before. More than 4.2 million shares changed hands, eight times its normal volume.
The interest in Cott came after the company reported revenue of $543.5 million for the quarter ended Jan. 3, compared to $481.6 million the year before, according to its filings with the U.S. Securities and Exchange Commission. That translated into a profit of $18.7 million, or 20 cents per share. That turned around a posted loss of $11.2 million, or 12 cents a share, the year before.
Cott credited the gains from its acquisition of two companies in the past year — Aimia Foods and DS Services — as well as the inclusion of a 53rd week in the year, which boosted revenues by $29 million. The company trades on the New York Stock Exchange under the symbol COT.
Cott finished the year with a $10 million, or 11 cents per share, profit on revenue of $2.1 billion. In 2014, Cott reported a $17 million, or 18 cents per share, profit on revenue of just under $2.1 billion.
Shares for Cott, which had fallen into the $6 range last November, last saw a peak like this in April 2013 when its share value climbed to $11.13.
Cott employs 9,500 people in 60 manufacturing facilities and 180 distribution facilities in the United States, Canada, the United Kingdom and Mexico.
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