New York (CNN Business) The company that makes the popular flavored sparkling water LaCroix reported a drop in sales and profit in its latest quarter. And the CEO is quite angry about it, saying that "much of this was the result of injustice!"

National Beverage chairman and CEO Nick Caporella, who typically writes the company's earnings releases as an off-the-cuff letter to shareholders, made the comment in the company's report after the closing bell Thursday.

National Beverage FIZZ Shares ofplunged nearly 20% Friday on the poor results. But Caporella was defiant.

Although he began the report with an apology for the weak numbers, the headline on the press release was "'We Just Love Our LaCroix' Consumers Chant."

"We are truly sorry for these results stated above. Negligence nor mismanagement nor woeful acts of God were not the reasons — much of this was the result of injustice!" Caporella wrote.

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