Craft Brew Alliance, an independent craft brewing company in the US, has registered net sales of $38.5m for the first quarter of 2012, up 19%, compared to $32.3m in the corresponding quarter of fiscal 2011.

Sales increased primarily due to rise in shipments to wholesalers, a drop in master distributor fees, price increases for its beers sold to wholesalers and a rise in revenues earned from its pubs.

For the first quarter of fiscal 2012, the company reported a net income of $0.7m, compared to break-even net income in Q1 2011.

Total shipments for the first quarter ended 31 March 2012 were 169,900 barrels, up 22,000 barrels, or 15%, from 147,900 barrels for the same quarter of 2011 fiscal.

Selling, general and administrative expense of $10.4m for the first quarter of 2012 increased $1.1m, or 12%, from $9.3m for the same period of 2011.

The company registered a non-contract shipment growth of 10% and depletion growth of 8% for the first quarter.

Craft Brew Alliance CEO Terry Michaelson said the first quarter of 2012 continued to demonstrate the success of their investments in their portfolio of beers and their marketing and sales capabilities, resulting in growth and positive net income.

"We remain dedicated to being true to our customers through delivery of the most diverse portfolio of high quality craft beers and brands in the industry, which provide unique beer experiences for multiple occasions," Michaelson said.

For full year 2012, the company anticipates a sales growth of about 10-12%.