Cott Corp. on Thursday posted a quarterly profit that missed market estimates, hurt by deep discounting over the holidays, the Canadian soft-drinks maker said.
The company, which makes private-label soft drinks for retailers like Wal-Mart Stores Inc and Safeway , said its fourth-quarter earnings were $16.2-million, or 16 cents a share, compared with $15.1-million, or 17 cents, a share, a year ago. The number of weighted average outstanding shares rose 18 percent in the period.
On an adjusted basis, its profit was 8 cents a share, trailing the average estimate of analysts of 11 cents a share.
Revenue rose 37 per cent to $528.8-million. Analysts on average were looking $503.2-million, according to Thomson Reuters I/B/E/S.