Redhook Loses $939K


Craft brewers are struggling and this week, Redhook announced a $939,486 loss in 2007. That's a precipitous 282 percent drop from the $516,165 profit they made in 2006. The company attributes it to several factors including a high per barrel excise tax, the increased costs of raw materials, and more competition in the wine and spirits market. They're still in the process of completing a merger with Portland-based Widmer Bros. (makers of the hefeweizen you liked so much in college). Stock holders are still leery--after hovering just under the $5 mark last week, it's now trading around $4.50.

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