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Constellation Brands reports first quarter fiscal 2015 results
date:Jul 04, 2014
estees totaled $1 million compared to $67 million for the prior year first quarter. The decrease was due primarily to the timing of the close of the beer business acquisition.

Interest expense totaled $86 million, an increase of 58 percent. The increase was primarily due to higher average borrowings driven by the financing for the beer business acquisition, partially offset by lower average interest rates.

The effective tax rate for first quarter 2015 was 33 percent which reflected the benefit

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