No Suds For You (SAM)

Shares of The Boston Beer Company, Inc. SAM are plunging today after the company reported lower than expected quarterly earnings.

The company said it expects to earn $3.45-$3.95 a share for 2011, sharply lower than the $3.91 per share Wall Street was expecting.

The company reported earnings of 87 cents per share on revenues of $115.7 million, compared to Wall Street estimates of 90 cents per share on revenues of $118.5 million.

Advertising, promotional and selling expenses rose 16 percent to $36.9 million.

At last check, shares were off $6.55 to $87.46, a loss of nearly 7%.