UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

October 26, 2007

COCA-COLA BOTTLING CO. CONSOLIDATED

(Exact name of registrant as specified in its charter)

Delaware		0-9286		56-0950585
(State or other jurisdiction		(Commission File Number)		(IRS Employer Identification No.)
of incorporation)

4100 Coca-Cola Plaza, Charlotte, North Carolina 28211
(Address of principal executive offices)            (Zip Code)

(704) 557-4400
(Registrant’s telephone number, including area code)

     Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

     o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

     o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

     o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

     o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 2.02. Results of Operations and Financial Condition.

On October 26, 2007, Coca-Cola Bottling Co. Consolidated (the “Company”) issued a news release announcing its financial results for the quarter ended September 30, 2007. A copy of the news release is furnished as Exhibit 99.1 hereto.

Item 9.01. Financial Statements and Exhibits.

(d)     Exhibits.

99.1

News release issued on October 26, 2007, reporting the Company’s financial results for the quarter ended September 30, 2007.

Signature

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

				COCA-COLA BOTTLING CO. CONSOLIDATED
				(REGISTRANT)
Date: October 30, 2007		BY:		/s/ Steven D. Westphal
				Steven D. Westphal Principal Financial Officer of the Registrant and Senior Vice President and Chief Financial Officer

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC

EXHIBITS

CURRENT REPORT
ON
FORM 8-K

Date of Event Reported:		Commission File No:
October 26, 2007		0-9286

COCA-COLA BOTTLING CO. CONSOLIDATED

EXHIBIT INDEX

Exhibit No.		Exhibit Description
99.1		News release issued on October 26, 2007, reporting the Company’s financial results for the quarter ended September 30, 2007.

Exhibit 99.1

Coca-Cola Bottling Co. Consolidated, 4100 Coca-Cola Plaza, Charlotte, NC 28211

		News Release
		Media Contact:		Lauren C. Steele VP – Corporate Affairs 704-557-4551
		Investor Contact:		Steven D. Westphal Senior VP – CFO 704-557-4456
FOR IMMEDIATE RELEASE		Symbol: COKE
October 26, 2007		Quoted: The NASDAQ Stock Market (Global Market)

Coca-Cola Bottling Co. Consolidated Reports Third Quarter 2007 Results

CHARLOTTE, NC — Coca-Cola Bottling Co. Consolidated (NASDAQ: COKE) today announced it earned $5.3 million, or basic net income per share of $.58, in the third quarter of 2007 compared to net income of $4.9 million, or basic net income per share of $.54, in the third quarter of 2006. For the first nine months of 2007, the Company earned $21.6 million, or basic net income per share of $2.37, compared to net income of $14.6 million, or basic net income per share of $1.61, for the first nine months of 2006. The results for the first nine months of 2007 included after-tax expense of $1.6 million, or basic net income per share of $.18, related to the previously announced restructuring in the first quarter of this year.

J. Frank Harrison, III, Chairman and CEO, said, “Given the unprecedented increases in packaging and sweetener costs in 2007, we restructured our operations and focused on resource efficiency to drive down operating costs and to improve income from operations. Operating expenses decreased 0.4% in the third quarter of 2007 and 0.8% during the first nine months of 2007 as compared to the same periods in 2006. Operating expenses in the third quarter of 2007 and first nine months of 2007 included restructuring expenses of $.2 million and $2.6 million, respectively. This focus on operating expenses led to an improvement in income from operations of 12.4% in the first nine months of 2007 compared to the same period of 2006.”

William B. Elmore, President and COO, said, “In addition to our focus on resource efficiency, we introduced new products in the first nine months of 2007 and expect to introduce others in the fourth quarter, which should improve our overall competitive position in 2007 and beyond. In the energy drink category, we added BooKoo products from BooKoo Beverages in the second quarter and NOS^® products from Fuze, a subsidiary of The Coca-Cola Company, in the third quarter. In the juice drink category, we added juice products from Fuze and V8 juice products from Campbell’s during the third quarter. In the enhanced water category, we added Dasani Plus earlier this year and anticipate adding glaceau’s Vitaminwater products to our portfolio beginning in early November. Finally, in the fast growing tea category, our gross margin increased by approximately 50% during the first nine months of 2007 as compared to the same period in 2006 as a result of significant growth of the Gold Peak and

Nestea product lines. We believe these additions considerably enhance our current portfolio of still beverages and will continue to improve our overall competitive position in the marketplace, especially in the convenience store channel.”

Cautionary Information Regarding Forward-Looking Statements

Included in this news release and other information that we make publicly available from time to time are forward-looking management comments and other statements that reflect management’s current outlook for future periods. These statements include, among others, statements about the Company’s expectations related to the introduction of new products, including Vitaminwater, and the Company’s improved competitive position in the marketplace, especially in the convenience store channel.

These statements and expectations are based on currently available competitive, financial and economic data along with our operating plans, and are subject to future events and uncertainties that could cause anticipated events not to occur or actual results to differ materially from historical or anticipated results. Among the events or uncertainties which could adversely affect future periods are: lower than expected selling pricing resulting from increased marketplace competition; changes in how significant customers market or promote our products; changes in public and consumer preferences related to nonalcoholic beverages; our inability to meet requirements under bottling contracts; material changes in the performance requirements for marketing funding support or our inability to meet such requirements; decreases from historic levels of marketing funding support; changes in The Coca-Cola Company’s and other beverage companies’ levels of advertising, marketing and spending on brand innovation; the inability of our aluminum can or plastic bottle suppliers to meet our purchase requirements; our inability to offset higher raw material costs with higher selling prices, increased bottle/can sales volume or reduced expenses; sustained increases in fuel costs or our inability to secure adequate supplies of fuel; sustained increases in workers’ compensation, employment practices and vehicle accident costs; sustained increases in the cost of employee benefits; changes in interest rates; adverse changes in our credit rating (whether as a result of our operations or prospects or as a result of those of The Coca-Cola Company or other bottlers in the Coca-Cola system); changes in legal contingencies; additional taxes resulting from tax audits; natural disasters and unfavorable weather; issues surrounding labor relations; our use of estimates and assumptions; public policy challenges regarding the sale of soft drinks in schools; and the concentration of our capital stock ownership. The forward-looking statements in this news release should be read in conjunction with the more detailed descriptions of the above factors located in our Annual Report on Form 10-K for the year ended December 31, 2006 under Part I, Item 1A “Risk Factors.” The Company undertakes no obligation to update or revise any forward-looking statements contained in this release as a result of new information or future events or developments.

—Enjoy Coca-Cola—

Coca-Cola Bottling Co. Consolidated
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
In Thousands (Except Per Share Data)

		Third Quarter								First Nine Months
		2007				2006				2007				2006
Net sales		$	367,360			$	370,626			$	1,095,359			$	1,090,429
Cost of sales			212,148				213,237				619,366				619,325
Gross margin			155,212				157,389				475,993				471,104
Selling, delivery and administrative expenses			134,861				135,421				402,376				405,459
Amortization of intangibles			111				136				334				426
Income from operations			20,240				21,832				73,283				65,219
Interest expense			12,135				12,745				36,647				37,808
Minority interest			110				841				1,960				2,546
Income before income taxes			7,995				8,246				34,676				24,865
Income taxes			2,722				3,305				13,061				10,222
Net income		$	5,273			$	4,941			$	21,615			$	14,643
Basic net income per share:
Common Stock		$	.58			$	.54			$	2.37			$	1.61
Weighted average number of Common Stock shares outstanding			6,644				6,643				6,644				6,643
Class B Common Stock		$	.58			$	.54			$	2.37			$	1.61
Weighted average number of Class B Common Stock shares outstanding			2,480				2,460				2,480				2,460
Diluted net income per share:
Common Stock		$	.58			$	.54			$	2.36			$	1.61
Weighted average number of Common Stock shares outstanding — assuming dilution			9,144				9,123				9,140				9,120
Class B Common Stock		$	.58			$	.54			$	2.36			$	1.60
Weighted average number of Class B Common Stock shares outstanding — assuming dilution			2,500				2,480				2,496				2,476