Cott Posts Loss In Q1 - Quick Facts

(RTTNews) - Cott Corp. (COT, BCB.TO) reported a first-quarter net loss attributed to company of $3.9 million or $0.04 per share, compared to breakeven results, prior year. Adjusted net loss attributed to company was $2.5 million or $0.03 per share, for the quarter.

On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $0.02 for the quarter. Analysts' estimates typically exclude special items.

Net revenue decreased to $475.1 million from $505.4 million. Analysts expected revenue of $490.48 million for the quarter. The company said the revenue decline was due primarily to lower North American volumes.

Cott's Board has declared a dividend of $0.06 per common share now denominated in US currency, payable in cash on June 18, 2014 to shareowners of record at the close of business on June 6, 2014.

Cott's Board has approved the renewal of its share repurchase program, which gives management the authority to opportunistically repurchase up to 5% of Cott's outstanding common shares over a 12-month period commencing upon the expiration of Cott's currently effective share repurchase program on May 21, 2014.

The company said it expects to return up to 50% of its free cash flows to shareowners over the next 12 months via ongoing dividend and an increase in share repurchases.