Boston Q2 Depletions up 7%, estimated between 8%-%12 full year

Dear Client:Boston Beer Co. has just reported core shipment growth of 7% at 690,000 barrels for Q2 and depletions growth of 7% for the quarter, 9% for the first half of the year. Full year 2012 depletions growth are now estimated to be between 8% - 12%, up from the previously communicated 6% - 9%, partially on the strength of recent rollouts. The Freshest Beer Program was attributable for reduced inventory at participating wholesalers of an estimated 619,000 cases as