Reed's, Inc. announced its revenues for its third quarter ended Sept. 30, 2012, and its earnings release date of Nov. 14, 2012.
Revenues for the third quarter of 2012 increased 23 percent to $7.9 million. Year to date revenues were $22.3 million, an increase of 26 percent from 2011.
"The third quarter continues to see our top line growth expand at over 20 percent per quarter for the last three years. In addition, we launched Reed's Culture Club Kombucha, which has become one of our most successful product launches in company history. We spent aggressively on the Kombucha launch and the start-up costs have resulted in minimal net income this quarter, however, we have still maintained profitability. In 2012, our two big growth drivers for the company were our branded and private label business. We have now created a third, and possibly the strongest, growth driver in our new line of Kombucha," stated Chris Reed, founder and CEO, in a prepared statement.