Brown-Forman reports 10 percent net income growth

Published December 5, 2012 4:32pm ET



LOUISVILLE, Ky. (AP) — Liquor producer Brown-Forman Corp.’s second-quarter net income rose 10 percent as a revenue spike from recent price increases for many of its premium brands helped offset slower sales due to prior stocking up by distributors and retailers.

Buoyed by strong international demand and improving U.S. sales in the first half of its fiscal year, the company also on Wednesday raised its full-year earnings outlook to a range of $2.58 to $2.70 per share, up from its prior forecast of $2.40 to $2.67 per share.

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