Reed's Inc. Announces Net Revenues Up 10 Percent, First Quarter 2014

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:

Financial Highlights:

  • 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.

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