This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Reed’s, Inc. Announces First Quarter 2010 Financial Results

Reed's, Inc. (NASDAQ: REED) (OTCBB: REEDP), maker of the top-selling sodas in natural food stores nationwide, today announced its financial results for the first quarter ended March 31, 2010.

First Quarter 2010 Highlights:

  • First quarter sales increased 17% to a record $4.0 million.
  • Gross profit in the first quarter increased 26% to $1.1 million.
  • Gross margin in the first quarter increased by 200 basis points to 27%.
  • Operating expenses in the first quarter decreased by $86,000, or 7% to $1.2 million.
  • EBITDA for the first quarter was $172,000, as compared to an EBITDA loss of $159,000 in the first quarter of 2009 (See EBITDA table at end of this release for further non-GAAP information).
  • Cash plus revolving LOC availability was $1.3 million at March 31, 2010, as compared to $1.5 million at December 31, 2009.
  • Working capital increased by approximately $500,000 during the quarter, to $2.5 million
  • Ramped up private label business with the addition of third private label customer.
  • Began production/shipment of new ‘Reed’s Rx’ Remedy for Nausea and Motion Sickness.
  • ‘Reed’s Rx’ Natural Ginger Nausea Relief gained placements in over 7,000 CVS/Pharmacy locations nationwide.
  • Expanded relationship with Kroger’s and Woodman’s Food Market; and established new relationship with Associated Wholesale Grocers (AWG).

“The first quarter is usually the weakest, but the fact that the Company was EBITDA positive makes it clear to us that we have moved into profitability,” said Chris Reed, Founder and CEO of Reed’s, Inc. “Our strategic plans are unfolding and are boosted by the improving economy. In the first quarter, revenues from our existing brands provided a solid base while our new branded products and private label sales took us to a 17% sales increase over last year, with higher margins. As we go into the second quarter, sales of all of our brands continue to outpace last year, and we anticipate substantial increases in private-label product sales throughout 2010. Gross profits from private-label sales will fuel our promotions of branded products. We project 20%-plus overall revenue increases for 2010.”

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
REED $5.21 -1.33%
AAPL $124.75 -1.13%
FB $80.78 -1.86%
GOOG $524.05 -1.83%
TSLA $206.79 0.04%

Markets

DOW 17,826.30 -279.47 -1.54%
S&P 500 2,081.18 -23.81 -1.13%
NASDAQ 4,931.8150 -75.9760 -1.52%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs