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Coca-Cola Finishes 2010 On A High Note

Posted On: 2/17/2011

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Coca-Cola, Coca-Cola Zero, Coca-Cola Enterprises, beverage, non-soda drinks, energy drinks, enhanced water, soda, vending, vending machine business, Coca-Cola fourth quarter

ATLANTA -- Coca-Cola Co.'s fourth-quarter net income more than tripled, boosted by the acquisition of its largest North American bottler and stronger sales of its drinks worldwide.

The beverage giant earned $5.77 billion, or $2.46 a share, for the quarter, up from $1.54 billion, or 66¢ per share, in the same period of 2009. Revenue rose 40% to $10.49 billion for the quarter.

Excluding a $5 billion gain from the buyout of Coca-Cola Enterprises' North American operations and other items, the company earned 72¢ a share, compared with 66¢ last year. Coca-Cola completed its purchase of the North American assets of Coca-Cola Enterprises last fall for $3.4 billion.

Worldwide beverage volume climbed 6% during the quarter and 8% in North America. Coca-Cola said domestic sales got a boost from its increased emphasis on non-soda drinks and strong sales of energy drinks and enhanced water, among other products. The company also sold more soda, with Coca-Cola Zero posting double-digit volume growth for the 19th straight quarter. Coca-Cola brand volume ticked up 1% in North America, Sprite rose 4% and Fanta 3%.

For the year, net income surged 73% to $11.81 billion, or $5.06 a share, compared with $6.82 billion, or $2.93 per share, the prior year. Revenue improved to $35.12 billion from $31 billion.