Brown-Forman posts 9 percent rise in 1Q net income as international sales offset US weakness

Brown-Forman posts 9 percent rise in 1Q net income

LOUISVILLE, Ky. — Liquor company Brown-Forman Corp. posted a 9 percent rise in first-quarter net income as strong international sales in countries such as Australia and Germany offset sluggish U.S. sales.

The maker of Jack Daniel’s Tennessee Whiskey and Finlandia vodka says it earned $121.4 million, or 81 cents per share, in the three months ending July 31. That’s up from $111.4 million, or 76 cents per share last year.

Revenue rose 1 percent to $744.9 million.

Analysts expected the company to earn 83 cents per share on revenue of $758.4 million.

The company has been hurting as people limit their trips out to bars in the down economy.

The company reaffirmed its guidance for the fiscal year of mid-single digit growth in operating income.