THE COCA-COLA COMPANY REPORTS SECOND QUARTER AND HALF YEAR 2008 RESULTS
>Second quarter EPS of $0.61; and $1.01 after considering items impacting comparability, an increase of 19 percent.
>Second quarter net revenue growth of 17 percent.
>Worldwide unit case volume increased 3 percent in the quarter, led by 5 percent growth in International while maintaining unit case volume in North America in a difficult operating environment.
>Operating income up 18 percent on a reported basis in the quarter; increased 20 percent after considering items impacting comparability.
>$400 to $500 million of annualized savings targeted by year-end 2011 from productivity initiatives.
ATLANTA, July 17, 2008 -- The Coca-Cola Company today reported second quarter earnings per share of $0.61, a decrease of 24 percent versus the prior year on a reported basis, and $1.01 after considering items impacting comparability, an increase of 19 percent. Earnings per share for the quarter included a net charge of $0.40 per share primarily related to a non-cash impairment charge at Coca-Cola Enterprises Inc. ("CCE"), an equity investee. Earnings per share for the second quarter of 2007 were $0.80 and included a net charge of $0.05 per share, primarily related to restructuring charges and a non-cash impairment charge at an equity investee.
>Second quarter EPS of $0.61; and $1.01 after considering items impacting comparability, an increase of 19 percent.
>Second quarter net revenue growth of 17 percent.
>Worldwide unit case volume increased 3 percent in the quarter, led by 5 percent growth in International while maintaining unit case volume in North America in a difficult operating environment.
>Operating income up 18 percent on a reported basis in the quarter; increased 20 percent after considering items impacting comparability.
>$400 to $500 million of annualized savings targeted by year-end 2011 from productivity initiatives.
ATLANTA, July 17, 2008 -- The Coca-Cola Company today reported second quarter earnings per share of $0.61, a decrease of 24 percent versus the prior year on a reported basis, and $1.01 after considering items impacting comparability, an increase of 19 percent. Earnings per share for the quarter included a net charge of $0.40 per share primarily related to a non-cash impairment charge at Coca-Cola Enterprises Inc. ("CCE"), an equity investee. Earnings per share for the second quarter of 2007 were $0.80 and included a net charge of $0.05 per share, primarily related to restructuring charges and a non-cash impairment charge at an equity investee.
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