Cott Corporation (COT), which makes soft drinks, Wednesday reported breakeven earnings for the first quarter. Revenue for the three-month period declined from last year. The company said soft volumes and fall in demand of he carbonated soft drink category hurt its profitability.
For the latest quarter, the firm reported earnings of $0.00 per share, compared with $6 million or $0.06 per share during the comparable period last year.
On average, eight analysts polled by Thomson Reuters expected earnings per share of $0.09 for the quarter. Analysts' estimates typically exclude one-time items.
Revenue for the period was recorded at $505 million for the quarter, down from $524 million generated during the same period prior year. The Street expected the company to generate revenues of $508.53 million.
The company has declared a dividend of CAD$0.06 per common share, payable in cash on June 12 to shareowners of record at the close of business on May 30.
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