Molson Coors' splashy finish to 2006 is making investors forget the company's recent troubles.

The Denver-and-Montreal- based brewer, aided in part by an extra week in the fourth quarter, reported a 10.6 percent gain in sales, to $1.53 billion, and a near-quadrupling of profits. Net income of $99.2 million, or $1.14 per diluted share, compared with $22.4 million, or 26 cents per share, in 2005's fourth quarter.

The company's stock hit an all-time high of $88.06 during Thursday's trading before settling in at $87.03, a record closing price. It finished up 5.5 percent, buoyed in part by a report in the Brazilian media that InBev and Anheuser- Busch are in merger talks to create a global brewer worth more than $80 billion.

Molson Coors had disappointed investors with negative earnings surprises throughout 2005, often reporting declining sales volume. Thursday's report was the opposite - beating expectations and reporting top-line growth.

"We finished 2006 with stronger brands, positive pricing, cost savings that exceeded our goals for the year, double-digit earnings growth and strong cash generation," CEO Leo Kiely said.

For the full year, sales increased 6.1 percent to $5.84 billion. Net income was $361.0 million, or $4.17 per diluted share, compared with $134.9 million, or $1.69 per share, in 2005.

The 2005 results include some discontinued operations but do not include results before -Adolph Coors Co. and Molson merged Feb. 9. On a pro forma basis, the company said, sales increased 4.1 percent, and net income increased 287 percent.

The additional week in the fourth quarter and full year added about 6 percent to fourth- quarter sales volume and 1.5 percent to the full-year figure, the company said.

Molson Coors

TAP: NYSE

$87.03

+ $4.56

David Milstead is finance editor of the Rocky Mountain News. He can be reached at milstead@RockyMountainNews.com or 303-954-2648. Rocky wire services contributed to this report.