This Day On The Street
Continue to site
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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
REED $4.99 0.00%
AAPL $111.31 0.00%
FB $92.80 0.00%
GOOG $645.44 0.00%
TSLA $241.46 0.00%


Chart of I:DJI
DOW 16,790.19 +13.76 0.08%
S&P 500 1,979.92 -7.13 -0.36%
NASDAQ 4,748.3610 -32.9030 -0.69%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs