The Boston Beer Company has reported net revenue of $147.5m for the second quarter of 2012, an increase of $13.5m or 10%, compared the same period last year, primarily due to core shipment growth of 7%.

Net income for the latest quarter was $14.4m, or $1.06 per diluted share, a decrease of $13.7m, or $0.95 per diluted share, from the second quarter of 2011.

Core shipment volume was increased by 7% to approximately 690,000 barrels, compared to the same period in the previous year.

Boston’s gross margin was decreased from 57% in the second quarter of 2011 to 54.5% in the latest quarter.

Boston Beer chairman and founder Jim Koch said the company was happy with the overall depletions growth of 7% for the quarter and 9% for the first half of the year.

"We believe that craft beer will continue to grow and that we are well positioned to share in that growth through the quality of our beers, our innovation capability and our sales execution, coupled with our strong financial position that gives us ability to invest in our brand," Koch added.

"During the quarter, we introduced several exciting new beers including Porch Rocker, small batch brews Samuel Adams Verloren and Samuel Adams Norse Legend, and our Hopology, a unique twelve pack of six distinctly different IPA styles.

"As we enter the third quarter, we are updating our packaging for all Samuel Adams styles and have introduced the next evolution of our brand communication which builds on our previous messaging."

Boston Beer president and CEO Martin Roper said the company is prepared to bear some losses in the short-term as it is investing in improving its brewing and packaging sectors and subsequently gain efficiently in the long run.