Boston Beer Co Inc (SAM.N), which makes Samuel Adams beers, posted lower-than-expected quarterly results, as it sold fewer barrels, and forecast full-year earnings that could miss market estimates, sending its shares down 4 percent.

The company cut its expectations for revenue per barrel increases in 2010, citing a competitive pricing environment. It sees revenue per barrel rise of 1 percent to 2 percent, down from its previous view of a rise of 2 percent.

The company posted fourth-quarter net income of $7.5 million, or 52 cents a share, compared with $3.6 million, or 25 cents a share, a year ago.

Net revenue rose 3 percent to $107.2 million. It sold 533 barrels compared with 618 barrels, a year ago.

Analysts on average were expecting earnings of 58 cents a share, before special items, on revenue of $110.8 million, according to Thomson Reuters I/B/E/S.

Boston Beer, which also sells flavored malt beverages under the Twisted Tea brand, and cider products under the HardCore Cider brands, expects 2010 earnings of $2.35 to $2.65 a share. Analysts were looking for $2.47 a share.

Shares of the company were down $2.24 at $49.50 after the bell. They closed at $51.74 Tuesday on the New York Stock Exchange.

(from:reuters.com)