Exhibit 99.1
 
 FOR IMMEDIATE RELEASE
 CRAFT BREWERS ALLIANCE
REPORTS THIRD QUARTER 2010 RESULTS
 Reports Revenue Growth of 15 Percent;
Completes Merger with Kona Brewing Co., Inc.
 Portland, Ore. (November 12, 2010)  Craft Brewers Alliance, Inc. (CBA)
 Significant financial highlights for the third quarter of 2010 and recent developments include:
 
    
    Net revenues increased by 15 percent over the same quarter a year ago
    
    Total shipments increased by 11 percent to 165,400 barrels
    
    Year-to-date cash flow from operations grew 50 percent, driving a 37 percent reduction
in total debt
    
    On October 1, 2010, the company closed its acquisition
of Kona Brewing Co., Inc.
    
    Favorable modifications to CBAs primary loan agreement
were negotiated, providing
available liquidity to close the merger
    
    We entered in to a contract brewing agreement with Fulton Street Brewing (Goose Island) to support
growth in our affiliates product demand
  Operating Results




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Craft Brewers Alliance Reports Third Quarter 2010 Results
    
    Page 2 of 3
     Cash Flow and Liquidity
  Merger with Kona Brewing Co., Inc.




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Craft Brewers Alliance Reports Third Quarter 2010 Results
    
    Page 3 of 3
  Modification to Loan Agreement
  Forward-Looking Statements
 www.craftbrewers.com
 About Craft Brewers Alliance
 www.craftbrewers.com
 Media Contact:
    
    Investor Contact:Ted Lane
LANE PR
(503) 546-7891
Ted@lanepr.com
    
    Patrick Green
(503) 331-7275
Patrick.green@craftbrewers.com




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Craft Brewers Alliance, Inc.
Condensed Consolidated Statements of Operations
(in thousands, except per share amounts)
(Unaudited)
 Three Months Ended
    
    
    Nine Months EndedSeptember 30,
    
    
    September 30,2010
    
    
    2009
    
    
    2010
    
    
    2009Sales
    
    $
    39,097
    
    
    $
    34,255
    
    
    $
    108,064
    
    
    $
    101,935Less excise taxes
    
    
    2,379
    
    
    
    2,216
    
    
    
    6,655
    
    
    
    6,522Net sales
    
    
    36,718
    
    
    
    32,039
    
    
    
    101,409
    
    
    
    95,413Cost of sales
    
    
    28,090
    
    
    
    24,714
    
    
    
    75,536
    
    
    
    73,961Gross profit
    
    
    8,628
    
    
    
    7,325
    
    
    
    25,873
    
    
    
    21,45223.5
    %
    
    
    22.9
    %
    
    
    25.5
    %
    
    
    22.5
    %Selling, general and administrative expenses
    
    
    7,717
    
    
    
    6,737
    
    
    
    21,467
    
    
    
    18,763Merger-related expenses
    
    
    353
    
    
    
    
    
    
    
    353
    
    
    
    225Operating income
    
    
    558
    
    
    
    588
    
    
    
    4,053
    
    
    
    2,464Interest expense
    
    
    (357
    )
    
    
    (531
    )
    
    
    (1,165
    )
    
    
    (1,668
    )Income from equity investments, interest and other, net
    
    
    338
    
    
    
    284
    
    
    
    889
    
    
    
    582Income before income taxes
    
    
    539
    
    
    
    341
    
    
    
    3,777
    
    
    
    1,378Income tax provision
    
    
    163
    
    
    
    247
    
    
    
    1,458
    
    
    
    620Net income
    
    $
    376
    
    
    $
    94
    
    
    $
    2,319
    
    
    $
    758Earnings per share:Basic and diluted earnings per share
    
    $
    0.02
    
    
    $
    0.01
    
    
    $
    0.14
    
    
    $
    0.04Weighted average shares outstanding:Basic
    
    
    17,119
    
    
    
    17,026
    
    
    
    17,093
    
    
    
    16,981Diluted
    
    
    17,232
    
    
    
    17,102
    
    
    
    17,153
    
    
    
    17,014
 Craft Brewers Alliance, Inc.
Condensed Consolidated Balance Sheets
(in thousands)
(Unaudited)
 September 30,2010
    
    
    2009Current assets:Cash and cash equivalents
    
    $
    13
    
    
    $
    723Accounts receivable, net
    
    
    13,065
    
    
    
    9,937Inventories
    
    
    9,065
    
    
    
    10,203Deferred income tax asset, net
    
    
    843
    
    
    
    931Other current assets and income tax receivables
    
    
    2,044
    
    
    
    3,870Total current assets
    
    
    25,030
    
    
    
    25,664Property, equipment and leasehold improvements, net
    
    
    94,216
    
    
    
    98,891Intangible and other non-current assets, net
    
    
    19,002
    
    
    
    18,700Total assets
    
    $
    138,248
    
    
    $
    143,255Current liabilities:Accounts payable
    
    $
    16,564
    
    
    $
    12,532Accrued salaries, wages, severance and payroll taxes
    
    
    2,992
    
    
    
    3,994Refundable deposits
    
    
    6,361
    
    
    
    6,575Other accrued expenses
    
    
    1,131
    
    
    
    1,248Current portion of long-term debt and capital lease obligations
    
    
    1,550
    
    
    
    1,460Total current liabilities
    
    
    28,598
    
    
    
    25,809Long-term debt and capital lease obligations, net
    
    
    17,056
    
    
    
    28,182Other long-term liabilities
    
    
    9,581
    
    
    
    8,818Total common stockholders equity
    
    
    83,013
    
    
    
    80,446Total liabilities and common stockholders equity
    
    $
    138,248
    
    
    $
    143,255




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Craft Brewers Alliance, Inc.
Condensed Consolidated Statements of Cash Flows
(in thousands)
(Unaudited)
 Nine Months EndedSeptember 30,2010
    
    
    2009Cash Flows From Operating Activities:Net income
    
    $
    2,319
    
    
    $
    758Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization
    
    
    5,230
    
    
    
    5,528Income from equity investments
    
    
    (686
    )
    
    
    (324
    )Deferred income taxes
    
    
    1,400
    
    
    
    601Other, including provision for inventory obsolescence
    
    
    (4
    )
    
    
    (2
    )Changes in operating assets and liabilities:Accounts receivable
    
    
    (1,918
    )
    
    
    2,527Inventories
    
    
    204
    
    
    
    (849
    )Income tax receivable and other current assets
    
    
    1,743
    
    
    
    931Other assets
    
    
    25
    
    
    
    (15
    )Accounts payable and other accrued expenses
    
    
    1,978
    
    
    
    (3,613
    )Accrued salaries, wages, severance and payroll
taxes
    
    
    (1,440
    )
    
    
    597Refundable deposits
    
    
    (99
    )
    
    
    (293
    )Net cash provided by operating activities
    
    
    8,752
    
    
    
    5,846Cash Flows from Investing Activities:Expenditures for property, equipment and leasehold improvements
    
    
    (1,611
    )
    
    
    (1,867
    )Proceeds from sale of property, equipment and leasehold improvements and other
    
    
    297
    
    
    
    61Net cash used in investing activities
    
    
    (1,314
    )
    
    
    (1,806
    )Cash Flows from Financing Activities:Principal payments on debt and capital lease obligations
    
    
    (1,102
    )
    
    
    (1,036
    )Net repayments under revolving line of credit
    
    
    (6,400
    )
    
    
    (2,500
    )Issuance of common stock and other
    
    
    66
    
    
    
    208Net cash used in financing activities
    
    
    (7,436
    )
    
    
    (3,328
    )Increase in cash and cash equivalents
    
    
    2
    
    
    
    712Cash and cash equivalents,
beginning of period
    
    
    11
    
    
    
    11Cash and cash equivalents, end of period
    
    $
    13
    
    
    $
    723