(CHARLOTTE) -- Coca-Cola Bottling Co. Consolidated reported earning $10.7 million in the second quarter. The Charlotte-based company had net sales in the period of $430.7 million.  This compared to net income of $11.1 million on net sales of $422.9 million for the second quarter of 2011.

“We are pleased with our revenue and gross margin growth in the second quarter and first half of 2012. Our revenue and gross margin growth was driven by slightly higher volume, increased pricing, and lower than expected cost increases in certain raw materials," said Chairman and CEO J. Frank Harrison.

The results for the second quarter of 2012 included a $0.4 million increase in income tax expense due to recording of a valuation allowance for certain deferred tax assets and other income tax changes. The results for the second quarter of 2011 included $1.2 million of after-tax losses, $1.7 million on a pre-tax basis, due to mark-to-market adjustments on fuel and aluminum hedges and other income tax changes.