News Release
THE COCA-COLA COMPANY REPORTS FIRST QUARTER 2005 RESULTS
- Reported earnings per share of $0.42 for the first quarter 2005 after a net reduction of $0.05 for items impacting comparability.
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- Worldwide unit case volume growth of 3 percent in the quarter.
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- Cash from operations for the quarter increased 18 percent to $1.4 billion.
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- During the quarter, the Company increased its dividend per share by 12 percent.
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Atlanta,
April
19, 2005 -
The Coca-Cola Company today reported first quarter earnings per share of $0.42, compared with $0.46 for the prior year first quarter. First quarter earnings per share include a net reduction of $0.05 per share due to an accrual for taxes of $0.06 per share related to the repatriation of foreign earnings and a charge for accelerated amortization of stock-based compensation of $0.02 per share, offset by favorable tax resolutions of $0.02 per share and a gain on the issuance of stock by an equity investee of $0.01 per share.
Neville Isdell, chairman and chief executive officer, commented, "These results reflect our stated intent to step up our investments in marketing, innovation and organizational capability building while effectively managing our portfolio of countries. We are taking the actions necessary to position the Company for future growth. We have now completed a major review of our operational framework under the umbrella of our new Manifesto for Growth. A solid foundation has been laid from which future growth paths will continue to emerge. Our recently announced operational and geographic alignment will reinvigorate our marketing, stimulate innovation and lead to enhanced execution at a local level. We have also put behind us the investigations by the Securities and Exchange Commission and the Department of Justice. We still have much work ahead of us, but I am very confident that we are doing the right things, making good progress, and that our continued emphasis on execution will bring about long-term benefit."
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