ATLANTA, Aug. 8, 2014 /PRNewswire/ -- DS Services Holdings, Inc. ("DS Services"), a leading national direct-to-consumer provider of bottled water, office coffee and water filtration services, today announced financial results for its second quarter and six month periods ended June 27, 2014 and certain leverage information.
Unaudited Second Quarter 2014 and Six Months Ended June 27, 2014 ("year-to-date") Financial Results (comparisons are to our second quarter 2013 or our six month period ended June 28, 2013, as applicable, and all results are approximates)
- Net revenue increased 6.6% to $251.4 million in the second quarter and 5.2% to $481.9 million year-to-date. This increase was primarily driven by an increase in sales of returnable products of 9.2% second quarter and 9.6% year-to-date which is a result of growth in our average water customer base of 1.4% in the second quarter and 1.7% year-to-date and in average customer consumption of bottled water of 8.2% in the second quarter and 7.5% year-to-date.
- Adjusted EBITDA increased 8.2% to $46.5 million in the second quarter and 4.8% to $79.4 million year-to-date. This increase was principally impacted by our net revenue which was driven by the growth in our average water customer base, growth in our average price per bottle and heightened control of our selling, general and administrative costs.
- Net loss was $0.5 million in the second quarter and $10.1 million year-to-date.
"We are pleased with the strong financial performance we have delivered year-to-date, driven by our growing customer base which is attributable to our successful strategic relationships and our Customer for Life initiatives. Our Customer for Life initiatives are being executed to enable us to achieve our mission of becoming America's favorite water, coffee and tea service provider where consumers live, work and play," said Tom Harrington, President and Chief Executive Officer. "We are optimistic about the future of our business as we see favorable trends in our average customer base and consumption per customer. As we begin a new chapter in our company's history as a public reporting company, we remain focused on the work required to achieve the goals and strategic initiatives we and our investors expect." Full report.
