Cott Reports Third Quarter 2012 Results and Announces

Cott Reports Third Quarter 2012 Results and Announces Declaration of
Dividend 
(Unless stated otherwise, all information is in U.S. dollars and all
third quarter 2012 comparisons are relative to the third quarter of
2011. Certain terms used in this press release are defined below.) 
TORONTO and TAMPA, FL -- (Marketwire) -- 11/01/12 --  Cott
Corporation (NYSE: COT) (TSX: BCB) today announced its results for
the third quarter ended September 29, 2012, as well as the
declaration of a quarterly dividend of CAD$0.06 per share on common
shares, payable in cash on December 20, 2012 to shareowners of record
at the close of business on December 4, 2012.  
Third Quarter 2012 Results  


 
--  Revenue of $584 million was lower by 5% (4% excluding the impact of
    foreign exchange) compared to $611 million.
--  Gross profit as a percentage of revenue increased 140 basis points to
    12.5% compared to 11.1%.
--  Net income and earnings per diluted share were $15 million and $0.15,
    respectively, compared to $16 million and $0.17, respectively.
--  EBITDA increased 6% to $55 million compared to $52 million. Adjusted
    EBITDA increased 2% to $56 million compared to $55 million.
--  Free cash flow was $45 million from $58 million of net cash provided
    by operating activities less $13 million of capital expenditures.

  
Jerry Fowden, Cott's Chief Executive Officer, commented, "The third
quarter saw an increase in Adjusted EBITDA and higher gross margin of
140 basis points. I'm pleased with our gross margin restoration
strategy's progress and our consistent cash generation, which coupled
with our view of the future, allows me to take pleasure in announcing
a dividend to be paid later in 2012."  
THIRD QUARTER 2012 PERFORMANCE SUMMARY  


 
--  Total filled beverage case volume in 8 oz. equivalent (excluding
    concentrate sales) was 225 million cases compared to 250 million
    cases. The volume decline was due primarily to our decision to exit
    certain low gross margin business in North America and the United
    Kingdom / Europe ("U.K.") as well as a general decline in the North
    American CSD and juice categories. Including concentrate sales, volume
    was 328 million cases compared to 332 million cases. Concentrate case
    sales grew 26% due prima
rily to increased volume from a new customer
    in South America and the timing of shipments to a customer in Asia.
    
    
--  Revenue was lower by 5% (4% excluding the impact of foreign exchange)
    to $584 million. An overall increase in average price per case and
    favorable product mix in the U.K. was offset by lower volumes and a
    product mix shift into juice drinks and sports drinks from 100%
    shelf-stable juice in North America.
    
    
--  Gross profit as a percentage of revenue increased 140 basis points to
    12.5% compared to 11.1%. The margin improvement is due primarily to an
    increase in average price per case and our exit from certain low gross
    margin business.
    
    
--  Selling, general and administrative ("SG&A") expenses were $44
    million compared to $38 million. The increase in SG&A expenses was
    driven primarily by higher employee-related costs compared to a
    lowering of the annual incentive and long-term incentive accruals in
    the prior year.
    
    
--  Income before income taxes increased to $17 million compared to $13
    million.
    
    
--  EBITDA increased 6% to $55 million compared to $52 million. Adjusted
    EBITDA increased 2% to $56 million compared to $55 million.
    
    
--  Free cash flow was $45 million from $58 million of net cash provided
    by operating activities less $13 million of capital expenditures
   
 compared to $56 million of free cash flow from $64 million of net cash
    provided by operating activities less $8 million of capital
    expenditures.

  
THIRD QUARTER 2012 REPORTING SEGMENT HIGHLIGHTS  


 
--  North America filled beverage case volume was 167 million cases
    compared to 188 million cases. Revenue was lower by 6% to $439 million
    as an increase in average price per case was more than offset by our
    exit from certain low gross margin business alongside a general
    decline in the North American CSD and juice categories and a product
    mix shift into juice drinks and sports drinks from 100% shelf-stable
    juice.
    
    
--  U.K. filled beverage case volume was 51 million cases compared to 53
    million cases due primarily to our exit from certain low gross margin
    business. Revenue increased 1% (3% excluding the impact of foreign
    exchange) to $126 million as a result of an increase in average price
    per case and positive product mix, including growth in the energy and
    sports drinks categories.
    
    
--  Mexico filled beverage case volume was 6 million cases compared to 9
    million cases. Revenue was lower by 24% (16% excluding the impact of
    foreign exchange) to $10 million due primarily to the loss of a
    regional brand license at the end of its term, partially offset by
    increased contract manufacturing volume.
    
    
--  RCI concentrate volume was 78 million compared to 60 million. Revenue
    increased 55% to $9 million due primarily to increased volume from a
    new customer in South America and the timing of shipments to a
    customer in Asia.

  
Declaration of Dividend
 Cott announced today that it had declared a
dividend of CAD$0.06 per share on common shares. The dividend is
payable in cash on December 20, 2012 to shareowners of record at the
close of business on December 4, 2012. 
Mr. Fowden continued, "We have a track record of strong cash
generation for the past three years and this coupled with our
increased confidence in our business model allow us to allocate some
of our cash generation to shareholders in the form of a dividend. We
believe this will be well received by our shareholders." 
Cott intends to pay a regular quarterly dividend on its common shares
subject to, among other things, the best interests of its
shareholders, Cott's results of operations, cash balances and future
cash requirements, financial condition, statutory regulations and
covenants set forth in Cott's asset-based credit lending facility and
indentures governing the senior notes due in 2017 and senior notes
due in 2018, as well as other factors that the Board of Directors may
deem relevant from time to time. 
Third Quarter Results Conference Call
 Cott Corporation will host a
conference call today, November 1, 2012, at 10:00 a.m. EDT, to
discuss third quarter results, which can be accessed as follows:  
North America: (877) 407-8031
 International: (201) 689-8031 
A live audio webcast will be available through Cott's website at
http://www.cott.com. The earnings conference call will be recorded
and archived for playback on the investor relations section of the
website for a period of two weeks following the event. 
About Cott Corporation 
 Cott is one of the world's largest producers
of beverages on behalf of retailers, brand owners and distributors.
Cott produces multiple types of beverages in a variety of packaging
formats and sizes, including carbonated soft drinks, 100% shelf
stable juice and juice-based products, clear, still and sparkling
flavored waters, energy products, new age beverages, and
ready-to-drink teas, as well as alcoholic beverages for brand owners.
Cott's large manufacturing footprint, substantial research and
development capability and high-level of quality and customer service
enables Cott to offer its customers a strong value-added proposition
of low cost, high quality products. With approximately 4,000
employees, Cott operates manufacturing facilities in the United
States, Canada, the United Kingdom and Mexico. Cott also develops and
manufactures beverage concentrates which it exports to over 50
countries around the world. 
Defined Terms 
 Certain defined terms used in this press release
include the following. "GAAP" means U.S. generally accepted
accounting principles. "EBITDA" means GAAP earnings (loss) before
interest, taxes, depreciation and amortization. "Adjusted EBITDA"
means GAAP earnings (loss) before interest, taxes, depreciation and
amortization, excluding purchase accounting adjustments, integration
expenses, restructuring and asset impairments. "Free cash flow" means
GAAP net cash provided by operating activities less capital
expenditures. See the accompanying reconciliation of Cott's EBITDA
and Adjusted EBITDA to its GAAP net income, and Cott's free cash flow
to its GAAP net cash provided by operating activities, as well as the
"Non-GAAP Measures" paragraph below. 
Non-GAAP Measures
 To supplement its reporting of financial measures
determined in accordance with GAAP, Cott utilizes certain non-GAAP
financial measures. Cott excludes from GAAP revenue the impact of
foreign exchange to separate the impact of currency exchange rate
changes from Cott's results of operations. Cott utilizes EBITDA and
Adjusted EBITDA to separate the impact of certain items from the
underlying business. Because Cott uses these adjusted financial
results in the management of its business, management believes this
supplemental information is useful to investors for their independent
evaluation and understanding of Cott's underlying business
performance and the performance of its management. Additionally, Cott
supplements its reporting of net cash provided by operating
activities determined in accordance with GAAP by excluding capital
expenditures, which management believes provides useful information
to investors about the amount of cash generated by the business that,
after the acquisition of property and equipment, can be used for
strategic opportunities, including investing in our business, making
strategic acquisitions, and strengthening the balance sheet. The
non-GAAP financial measures described above are in addition to, and
not meant to be considered superior to, or a substitute for, Cott's
financial statements prepared in accordance with GAAP. In addition,
the non-GAAP financial measures included in this earnings
announcement reflect management's judgment of particular items, and
may be different from, and therefore may not be comparable to,
similarly titled measures reported by other companies.  
Safe Harbor Statements
 This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934 conveying
management's expectations as to the future based on plans, estimates
and projections at the time Cott makes the statements.
Forward-looking statements involve inherent risks and uncertainties
and Cott cautions you that a number of important factors could cause
actual results to differ materially from those contained in any such
forward-looking statement. The forward-looking statements contained
in this press release include, but are not limited to, statements
related to the declaration of future dividends, the amount of shares
that may be repurchased under the share repurchase program, future
financial operating results and related matters. The forward-looking
statements are based on assumptions regarding management's current
plans and estimates. Management believes these assumptions to be
reasonable but there is no assurance that they will prove to be
accurate.  
Factors that could cause actual results to differ materially from
those described in this press release include, among others: Cott's
ability to compete successfully; changes in consumer tastes and
preferences for existing products and Cott's ability to develop and
timely launch new products that appeal to such changing consumer
tastes and preferences; a loss of or reduction in business with key
customers, particularly Walmart; fluctuations in commodity prices and
Cott's ability to pass on increased co
sts to its customers, and the
impact of those increased prices on Cott's volumes; Cott's ability to
manage its operations successfully; currency fluctuations that
adversely affect the exchange between the U.S. dollar and the pound
sterling, the Euro, the Canadian dollar, the Mexican peso and other
currencies; Cott's ability to maintain favorable arrangements and
relationships with its suppliers; Cott's ability to realize the
expected benefits of the Cliffstar acquisition because of integration
difficulties and other challenges; risks associated with the asset
purchase agreement entered into in connection with the Cliffstar
acquisition; the significant amount of Cott's outstanding debt and
Cott's ability to meet its obligations under its debt agreements;
Cott's ability to maintain compliance with the covenants and
conditions under its debt agreements; fluctuations in interest rates;
credit rating changes; the impact of global financial events on
Cott's financial results; Cott's ability to fully realize the
expected cost savings and/or operating efficiencies from its
restructuring activities; any disruption to production at Cott's
beverage concentrates or other manufacturing facilities; Cott's
ability to protect its intellectual property; compliance with product
health and safety standards; liability for injury or illness caused
by the consumption of contaminated products; liability and damage to
Cott's reputation as a result of litigation or legal proceedings;
changes in the legal and regulatory environment in which Cott
operates; the impact of proposed taxes on soda and other sugary
drinks; enforcement of compliance with the Ontario Environmental
Protection Act; unseasonably cold or wet weather, which could reduce
the demand for Cott's beverages; the impact of national, regional and
global events, including those of a political, economic, business and
competitive nature; Cott's ability to recruit, retain, and integrate
new management and a new management structure; Cott's exposure to
intangible asset risk; Cott's ability to renew its collective
bargaining agreements on satisfactory terms; disruptions in Cott's
information systems; compliance with product health and safety
standards; the volatility of Cott's stock price; and Cott's ability
to maintain compliance with the listing requirements of the New York
Stock Exchange. 
The foregoing list of factors is not exhaustive. Readers are
cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date hereof. Readers are urged
to carefully review and consider the various disclosures, including
but not limited to risk factors contained in Cott's Annual Report on
Form 10-K for the fiscal year ended December 31, 2011 and its
quarterly reports on Form 10-Q, as well as other periodic reports
filed with the securities commissions. Cott does not undertake to
update or revise any of these statements in light of new information
or future events, except as expressly required by applicable law.  
Website: www.cott.com 


 
                                                                            
COTT CORPORATION                                                  EXHIBIT 1 
CONSOLIDATED STATEMENTS OF OPERATIONS    
                                   
(in millions of U.S. dollars, except share and per share                    
 amounts, U.S. GAAP)                                                        
Unaudited                                                                   
                                                                            
                     For the Three Months Ended   For the Nine Months Ended 
                     --------------------------  -------------------------- 
                     September 29,   October 1,  September 29,   October 1, 
                          2012          2011          2012          2011    
                     -------------  -----------  -------------  ----------- 
                                                                            
Revenue, net         $       583.8  $     611.3  $     1,733.4  $   1,785.4 
Cost of sales                510.6        543.7        1,504.5      1,560.2 
                     -------------  -----------  -------------  ----------- 
                                                                            
Gross profit                  73.2         67.6          228.9        225.2 
                                                                            
Selling, general and                                                        
 administrative                                                             
 expenses                     43.8         38.1          134.4        128.3 
Loss on disposal of                                                         
 property, plant &                                                          
 equipment                     0.8          0.5            1.7          0.5 
                     -------------  -----------  -------------  ----------- 
Operating income              28.6         29.0           92.8         96.4 
                                                                            
Other (income)                                                              
 expense, net                 (1.5)         1.3           (2.2)         2.1 
Interest expense,                                                           
 net                          13.1         14.4           40.6         43.4 
                     -------------  -----------  -------------  ----------- 
                                                                            
Income before income                                                        
 taxes                        17.0         13.3           54.4         50.9 
                                                                            
Income tax expense                                                          
 (benefit)                     1.2         (4.0)           5.5         (1.7)
                     -------------  -----------  -------------  ----------- 
                                                                            
Net income           $        15.8  $      17.3  $        48.9  $      52.6 
                                                                            
Less: Net income                                                            
 attributable to                                                            
 non-controlling                                                            
 interests                     1.3          1.1            3.4          3.1 
                     -------------  -----------  -------------  ----------- 
                                                                            
Net income                                                                  
 attributed to Cott                                                         
 Corporation         $        14.5  $      16.2  $        45.5  $      49.5 
                     =============  ===========  =============  =========== 
                                                                            
Net income per                                                              
 common share                                                               
 attributed to Cott                                                         
 Corporation                                                                
  Basic              $        0.15  $      0.17  $        0.48  $      0.53 
  Diluted            $        0.15  $      0.17  $        0.48  $      0.52 
                                                                            
Weighted average                                                            
 outstanding shares                                                         
 (millions
)                                                                 
 attributed to Cott                                                         
 Corporation                                                                
  Basic                       94.5         94.3           94.5         94.2 
  Diluted                     95.6         95.1           95.6         95.0 
                                                                            
                                                                            
                                                                            
COTT CORPORATION                                                  EXHIBIT 2 
CONSOLIDATED BALANCE SHEETS                                                 
(in millions of U.S. dollars, except share amounts, U.S.                    
 GAAP)                                                                      
Unaudited                                                                   
                                                                            
                                               -------------  ------------- 
                                               September 29,   December 31, 
                                                    2012           2011     
                                               -------------  ------------- 
ASSETS                                                                      
Current assets                                                              
Cash & cash equivalents                        $        88.1  $       100.9 
Accounts receivable, net of allowance of $7.0                               
 ($5.7 as of December 31, 2011)                        252.1          210.8 
Income taxes recoverable                                 2.9            9.9 
Inventories                                            219.1          210.0 
Prepaid expenses and other assets                       25.0           19.3 
                                               -------------  ------------- 
                                                                            
Total current assets                                   587.2          550.9 
                                                                            
Property, plant & equipment                            488.1          482.2 
Goodwill                                               130.8          129.6 
Intangibles and other assets                           324.1          341.1 
Deferred income taxes                                    2.8            4.1 
Other tax receivable                                     1.0            1.0 
                                               -------------  ------------- 
                                                                            
Total assets                                   $     1,534.0  $     1,508.9 
                                               =============  ============= 
                                                                            
LIABILITIES AND EQUITY                                                      
Current liabilities                                                         
Current maturities of long-term debt           $         1.8  $         3.4 
Accounts payable and accrued liabilities               247.1          281.1 
                                               -------------  ------------- 
                                                                            
Total current liabilities                              248.9          284.5 
                                                                            
Long-term debt                                         602.1          602.1 
Deferred income taxes                                   37.5           34.1 
Other long-term liabilities                             15.4           20.0 
                                               -------------  ------------- 
                                                                            
Total liabilities                                      903.9          940.7 
                                                                            
Equity                                                                      
Capital stock, no par - 95,161,968 (December                                
 31, 2011 - 95,101,230) shares issued                  395.7          395.9 
Treasury stock                                          (2.1)          (2.1)
Additional paid-in-capital                              46.1           42.6 
Retained earnings                                      189.5          144.1 
Accumulated other comprehensive loss                   (11.4)         (24.7)
                                               -------------  ------------- 
Total Cott Corporation equity                          617.8          555.8 
Non-controlling interests                               12.3           12.4 
                                               -------------  ------------- 
                                                                            
Total equity                                           630.1          568.2 
                                               -------------  ------------- 
                                                                            
Total liabilities and equity                   $     1,534.0  $     1,508.9 
                                               =============  ============= 
                                                                            
                     
                                                       
                                                                            
COTT CORPORATION                                                  EXHIBIT 3 
CONSOLIDATED STATEMENTS OF CASH FLOWS                                       
(in millions of U.S. dollars, U.S. GAAP)                                    
Unaudited                                                                   
                                                                            
                                                                            
                     For the Three Months Ended   For the Nine Months Ended 
                     --------------------------  -------------------------- 
                     September 29,   October 1,  September 29,   October 1, 
                          2012          2011          2012          2011    
                     -------------  -----------  -------------  ----------- 
                                                                            
Operating Activities                                                        
  Net income         $        15.8  $      17.3  $        48.9  $      52.6 
  Depreciation &                                                            
   amortization               24.7         24.0           72.2         71.4 
  Amortization of                                                           
   financing fees              0.8          1.1            2.9          2.9 
  Share-based                                                               
   compensation                                                             
   expense                     1.3         (1.6)           3.5          2.2 
  Increase                                                                  
   (decrease) in                                                            
   deferred income                                                          
   taxes                       0.6         (4.2)           4.6         (2.3)
  Gain on bargain                                                           
   purchase                      -            -           (0.9)           - 
  Loss on disposal                                                          
   of property,                                                             
   plant & equipment           0.8          0.5            1.7          0.5 
  Contract                                                                  
   termination                                                              
   payments                      -         (3.1)             -         (3.1)
  Other non-cash                                                            
   items                      (1.4)        (0.1)          (0.8)         1.7 
  Change in                                                                 
   operating assets                                                         
   and liabilities,                                                         
   net of                                                                   
   acquisition:                                                             
    Accounts                                                                
     receivable               15.0         29.5          (36.8)       (41.5)
    Inventories               17.1         23.1           (5.9)         0.4 
    Prepaid expenses                                                        
     and other                                                              
     assets                    0.4          2.1           (5.5)         0.9 
    Other assets              (0.2)         0.9            0.7          0.2 
    Accounts payable                                                        
     and accrued                                                            
     liabilities             (22.1)       (25.8)         (38.4)       (22.9)
    Income taxes                                                            
     recoverable               5.2          0.2            6.8         (3.4)
                     -------------  -----------  -------------  ----------- 
      Net cash                                                              
       provided by                                                          
       operating                                                            
       activities             58.0         63.9           53.0         59.6 
                     -------------  -----------  -------------  ----------- 
                                                                            
Investing Activities                                                        
  Acquisition                 (4.7)       (25.7)          (9.7)       (25.7)
  Additions to                                                              
   property, plant &                                                        
   equipment                 (13.2)        (8.1)         (50.6)       (31.4)
  Additions to                                                              
   intangibles and                                                          
   other assets               (1.0)        (1.4)          (4.7)        (3.9)
  Proceeds from sale                                                        
   of property,                                                             
   plant & equipment           1.3          0.1            2.3          0.1 
  Proceeds from                                                             
   insurance                                                                
   recoveries                  1.7            -            1.7            - 
  Other investing                                                           
   activities                    -         (0.1)             -         (1.8)
                     -------------  -----------  -------------  ----------- 
      Net cash used                                                         
       in investing                                                         
       activities            (15.9)       (35.2)         (61.0)       (62.7)
                     -------------  -----------  -------------  ----------- 
                                                                            
Financing Activities                                                        
  Payments of long-                                                         
   term debt                  (0.2)        (1.8)          (2.8)        (5.2)
  Borrowings under                                                          
   ABL                           -         80.7           24.5        224.1 
  Payments under ABL             -       (100.7)         (24.5)      (231.9)
  Distributions to                                                          
   non-controlling                                                          
   interests                  (1.9)        (1.7)          (3.3)        (4.2)
  Exercise of
                                                               
   options                       -          0.2              -          0.3 
  Common share                                                              
   repurchase                    -            -           (0.3)           - 
  Financing fees              (1.2)           -           (1.2)        (0.1)
                     -------------  -----------  -------------  ----------- 
      Net cash used                                                         
       in financing                                                         
       activities             (3.3)       (23.3)          (7.6)       (17.0)
                     -------------  -----------  -------------  ----------- 
                                                                            
Effect of exchange                                                          
 rate changes on                                                            
 cash                          2.2         (1.2)           2.8          0.1 
                                                                            
                     -------------  -----------  -------------  ----------- 
Net increase                                                                
 (decrease) in cash                                                         
 & cash equivalents           41.0          4.2          (12.8)       (20.0)
                                                                            
Cash & cash                                                                 
 equivalents,                                                               
 beginning of period          47.1         24.0          100.9         48.2 
                     -------------  -----------  -------------  ----------- 
                                                                            
Cash & cash                                                                 
 equivalents, end of                                                        
 period              $        88.1  $      28.2  $        88.1  $      28.2 
                     =============  ===========  =============  =========== 
                                                                            
                                                                            
                                                                            
COTT CORPORATION                                                  EXHIBIT 4 
SEGMENT INFORMATION                                                         
(in millions of U.S. dollars or 8 oz equivalent cases, U.S.                 
 GAAP)                                                                      
Unaudited                                                                   
                                                                            
                     For the Three Months Ended   For the Nine Months Ended 
                     --------------------------  -------------------------- 
                     September 29,   October 1,  September 29,   October 1, 
                          2012          2011          2012          2011    
                     -------------  -----------  -------------  ----------- 
                                                                            
Revenue                                                                     
  North America      $       439.3  $     468.1  $     1,323.1  $   1,388.2 
  United Kingdom             125.5        124.5          356.2        336.8 
  Mexico                       9.7         12.7           29.0         40.3 
  RCI                          9.3          6.0           25.1         20.1 
                     -------------  -----------  -------------  ----------- 
                     $       583.8  $     611.3  $     1,733.4  $   1,785.4 
                     =============  ===========  =============  =========== 
                                                                            
Operating income                                                            
 (loss)                                                                     
  North America      $        18.9  $      19.8  $        67.4  $      70.6 
  United Kingdom               7.8          8.3           21.5         22.7 
  Mexico                      (1.0)        (0.9)          (3.2)        (3.0)
  RCI                          2.9          1.8            7.1          6.1 
                     -------------  -----------  -------------  ----------- 
                     $        28.6  $      29.0  $        92.8  $      96.4 
                     =============  ===========  =============  =========== 
                                                                            
Volume - 8 oz                                                               
 equivalent cases -                                                         
 Total Beverage                                                             
 (including                                                                 
 concentrate)                                                               
  North America              190.1        207.5          573.9        620.3 
  United Kingdom              53.9         55.6          154.5        157.3 
  Mexico                       6.4          8.7           19.0         28.9 
  RCI                         77.5         60.2          220.2        204.3 
                     -------------  -----------  -------------  ----------- 
                             327.9        332.0          967.6      1,010.8 
                     =============  ===========  =============  =========== 
                                                                            
Volume - 8 oz                                                               
 equivalent cases -                                                         
 Filled Beverage                                                            
  North America              167.3        188.1          505.6        557.3 
  United Kingdom              50.5         53.0          143.1        145.8 
  Mexico                       6.4          8.7           19.0         28.9 
  RCI                          0.3            -            0.3            - 
                     -------------  -----------  -------------  ----------- 
                             224.5        249.8          668.0        732.0 
                     =============  ===========  =============  =========== 
                                                                            
                                                                            
                                                                            
                                                                    EXHIBIT 
COTT CORPORATION                                                          5 
SUPPLEMENTARY INFORMATION - NON-GAAP - Analysis of Revenue by               
 Reporting Segment                                                          
Unaudited                                                                   
                                                                            
                                        For the Three Months Ended          
                              --------------------------------------------- 
(in millions of U.S. dollars,                                               
 except percentage amounts)                 September 29, 2012              
                              --------------------------------------------- 
                                         North    United                    
                              Cott(1)   America   Kingdom   Mexico    RCI   
                              -------  --------  --------  -------  ------- 
Change in revenue             $ (27.5) $  (28.8) $    1.0  $  (3.0) $   3.3 
Impact of foreign exchange(2)     5.5       1.6       2.9      1.0        - 
               
               -------  --------  --------  -------  ------- 
Change excluding foreign                                                    
 exchange                     $ (22.0) $  (27.2) $    3.9  $  (2.0) $   3.3 
                              =======  ========  ========  =======  ======= 
Percentage change in revenue     -4.5%     -6.2%      0.8%   -23.6%    55.0%
                              =======  ========  ========  =======  ======= 
Percentage change in revenue                                                
 excluding foreign exchange      -3.6%     -5.8%      3.1%   -15.7%    55.0%
                              =======  ========  ========  =======  ======= 
                                                                            
                                                                            
                                        For the Nine Months Ended           
                              --------------------------------------------- 
(in millions of U.S. dollars,                                               
 except percentage amounts)                 September 29, 2012              
                              --------------------------------------------- 
                                         North    United                    
                              Cott(1)   America   Kingdom   Mexico    RCI   
                              -------  --------  --------  -------  ------- 
Change in revenue             $ (52.0) $  (65.1) $   19.4  $ (11.3) $   5.0 
Impact of foreign exchange(2)    17.2       5.0       8.3      3.9        - 
                              -------  --------  --------  -------  ------- 
Change excluding foreign                                                    
 exchange                     $ (34.8) $  (60.1) $   27.7  $  (7.4) $   5.0 
                              =======  ========  ========  =======  ======= 
Percentage change in revenue     -2.9%     -4.7%      5.8%   -28.0%    24.9%
                              =======  ========  ========  =======  ======= 
Percentage change in revenue                                                
 excluding foreign exchange      -1.9%     -4.3%      8.2%   -18.4%    24.9%
                              =======  ========  ========  =======  ======= 
                                                                            
(1) Cott includes the following reporting segments: North                   
 America, United Kingdom, Mexico and RCI.                                   
(2) Impact of foreign exchange is the difference between the current year's 
 revenue translated utilizing the current year's average foreign exchange   
 rates less the current year's revenue translated utilizing the prior       
 year's average foreign exchange rates.                                     
                                                                            
                                                                            
                                                                            
COTT CORPORATION                                                  EXHIBIT 6 
SUPPLEMENTARY INFORMATION - NON-GAAP - EARNINGS BEFORE                      
 INTEREST, TAXES, DEPRECIATION & AMORTIZATION                               
(EBITDA)                                                                    
(in millions of U.S. dollars)                                               
Unaudited                                                                   
                                                                            
                     For the Three Months Ended   For the Nine Months Ended 
                     --------------------------  -------------------------- 
                     September 29,  October 1,   September 29,  October 1,  
                          2012         2011           2012         2011     
                     ------------- ------------  ------------- ------------ 
                                                                            
Net income                                                                  
 attributed to Cott                                                         
 Corporation         $        14.5 $       16.2  $        45.5 $       49.5 
Interest expense,                                                           
 net                          13.1         14.4           40.6         43.4 
Income tax expense                                                          
 (benefit)                     1.2         (4.0)           5.5         (1.7)
Depreciation &                                                              
 amortization                 24.7         24.0           72.2         71.4 
Net income                                                                  
 attributable to                                                            
 non-controlling                                                            
 interests                     1.3          1.1            3.4          3.1 
                     ------------- ------------  ------------- ------------ 
EBITDA               $        54.8 $       51.7  $       167.2 $      165.7 
                                                                            
Acquisition                                                                 
 adjustments                                                                
  Earnout adjustment             -          0.9              -          0.9 
  Inventory step-up                                                         
   (step-down)                   -          0.3            0.1         (3.8)
  Integration costs            1.3          1.9            3.1          3.0 
                     ------------- ------------  ------------- ------------ 
Adjusted EBITDA      $        56.1 $       54.8  $       170.4 $      165.8 
                     ============= ============  ============= ============ 
                                                                            
                                                                            
                                                                            
COTT CORPORATION                                                  EXHIBIT 7 
SUPPLEMENTARY INFORMATION - NON-GAAP - FREE CASH FLOW                       
(in millions of U.S. dollars)                                               
Unaudited                                                                   
                                                                            
                                                For
 the Three Months Ended  
                                               ---------------------------- 
                                               September 29,    October 1,  
                                                    2012           2011     
                                               -------------  ------------- 
                                                                            
Net cash provided by operating activities      $        58.0  $        63.9 
  Less: Capital expenditures                           (13.2)          (8.1)
                                               -------------  ------------- 
Free Cash Flow                                 $        44.8  $        55.8 
                                               =============  ============= 

  
CONTACT:
Michael C. Massi 
Investor Relations
Tel: (813) 313-1786
Investor.relations@cott.com 
 
 
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