CBA Depletions Flat for year, Down 3% for Q4; Kona Still Ripping

Dear Client:Fourth quarter and full year results for Craft Brew Alliance just hit.Q4 OVERALL DEPLETIONS DOWN 3%, BUT KONA UP 12%. Overall depletions for the brewer were down 3% in the fourth quarter, but CBA highlighted the fact that Kona grew depletions by 12% in the fourth quarter.Depletions were flat for the year. That was on the strength of Kona up 17% and "increasing contributions from international and partnerships, compared to last year."QUARTERLY SHIPMENT DECLINE OF 13%. In Q4, CBA