Georgia-based, worldâ€™s largest soft-drink maker, Coca-Cola Co. (NYSE: KO) reported results for the third quarter of 2012 ended Sep 28, 2012.
KOâ€™s Revenues increased 1% to $12,340 million in the third quarter of 2012. Operating Income also increased 1% to $2,793 million in the third quarter. Net income for the quarter rose 4% to $2,311 million. Net cash from operations for the nine months ended Sep 2012 was $7,840 million.
Coca-Cola reported volume growth of 4% worldwide. KOâ€™s unit case volume increased in all geographic regions including emerging and developed markets. The companyâ€™s Eurasia and Africa segment reported volume growth of 11%.
In spite of higher volume growth, net revenues increased only by 1%, mainly due to lower unit price and a 23% decrease in segmental revenues from â€˜Corporateâ€™.
KOâ€™s adjusted gross margin was 60.3% slightly higher than the 60.2% reported for the same period in the prior year. Operating expenses increased more than revenues. This was due to companyâ€™s various productivity and reinvestment program as well as other restructuring initiatives.
Though the companyâ€™s interest income decreased by 16%, it was offset by a decrease of 12% in net interest expenses and a 40% increase in equity income. This led the income before taxes to rise by 5%. Â Net income grew only by 4% due to increase in income taxes by 11%.
As on Sep 28, 2012, KO had total assets of $86,654 million including $9,615 million worth of cash and its equivalents. Total liabilities were $53,064 million, among which 51% were current and the remaining was long term. Total Stockholdersâ€™ equity was $33,590 million.
KOâ€™s shares have been quite volatile today. It has been trading so far today in the range of $37.44 and $38.22. At the last check, the stock was trading 0.43% lower at $37.9650 on volume of 14.52 million.