LOS ANGELES, CA--(Marketwired - May 14, 2014) - Reed's, Inc. (NYSE MKT: REED), maker of the top-selling sodas in natural food stores nationwide, announces the financial results for its fiscal first quarter ended March 31, 2014.
First Quarter 2014 Compared to First Quarter 2013:
- Net revenues increased 10% to $8,950,000.
- Gross profit increased 15% to $2,903,000.
- Gross profit margin increased to 32.4% from 31.2%.
- Plant Idle Capacity costs was reduced from 8.4% of net sales in the first quarter of 2013 to 5.3% of net sales in the first quarter of 2014 -- a savings of $216,000.
- Loss from Operations improved by $207,000, to a loss from operations in the first quarter of 2014 of $32,000 from a loss from operations in the same period last year of $239,000.
- Modified EBITDA improved by $223,000, to a Modified EBITDA of $248,000, from $25,000 in the same period last year.
- Cash at the end of the quarter remained flat at $1,104,000. Full report.