Craft Brew Alliance (CBA), an Oregon-based independent craft brewing company, has posted net sales of $44.3m for the second quarter (Q2) ended 30 June 2012, an increase of $2.8m or 7% against net sales of $41.5m for the same quarter the previous year.

The increase in net sales was primarily due to decrease in master distributor fees, price increase for beers sold to wholesalers and an increase in revenues earned from pubs.

Net income was $0.6m, or $0.03 per diluted share, a decrease of $7.6m from net income of $8.2m, or $0.43 per diluted share, for the same quarter in 2011.

The decrease in net income was primarily due to $6.5m net-of-tax gain, or $0.34 per diluted share, on the sale of equity interest in Fulton Street Brewery.

Operating income was decreased from $2,788 in second quarter of 2011 to $1,116 during the reported quarter.

CBA CEO Terry Michaelson said while the company would have preferred second quarter depletion growth above 3%, the result was in keeping with its expectations of quarterly volatility as they grow on a geographic and brand basis.

"We have a model that is unique to the craft beer segment and provides unparalleled benefits that include four distinct authentic craft-beer brands, bi-coastal brewing capabilities, an established national sales and marketing footprint with seamless distribution, and pubs to interact intimately with customers," Michaelson added.

"As we continue to grow our brands on a national basis, we expect to experience volatility in our results from quarter-to-quarter.

"We are confident that we will deliver long-term profit growth for our shareholders by continuing to invest in the underlying strengths of our brands."