Molson Q1 losses larger than stated

Modern Brewery Age, May 9, 2005

Molson Coors said Monday its loss for the first quarter is deeper than it originally reported last week. In a filing with the U.S. Securities and Exchange Commission, the company said it had an after-tax loss of $8.4 million US excluding special items, rather than the $5.1 million US reported on April 28. Molson Coors also said that excluding special charges, the company had a pro forma after-tax loss of $7 million US (9 cents per share) rather than the $4 million (4 cents per share) it reported on last week's earnings call with analysts.

The company did not change its overall bottom-line results. The brewer reported a net loss of $46.5 million US.