CBA Shipments up 12%  

May 17, 2011 CBA Shipments up 12%  Dear Client: Craft Brewers Alliance reported strong first quarter shipments, up 12%, and STRs were up 7%.  Contract brewing shipments were up 73%, reflecting strong Goose Island sales.  Net revenues increased $4.8 million, or 18%, to $32.3 million compared with the first quarter of 2010.  But increased costs pushed them to a slight operating loss. "Top-line growth was ahead of our expectations, reflecting early successes on the sales and execution fronts," says chief Terry Michaelson, who