date:Jun 06, 2014
Brown-Forman Corporation (NYSE:BFA, BFB) reported financial results for its fourth quarter and fiscal year ended April 30, 2014.
For the full year, reported net sales increased 4% to $3,946 million (+6% on an underlying basis2), reported operating income increased 8% to $971 million (+11% on an underlying basis), and diluted earnings per share increased 11% to $3.06 compared to $2.75 in the prior year period.
Reported earnings per share were negatively impacted by a reduction in inventory leve