Reed's Inc. Announces Year-End 2014 Results

March 27, 2015

LOS ANGELES, CA–(Marketwired – Mar 26, 2015) – Reed’s, Inc., maker of the top-selling sodas in natural food stores nationwide, today announced the financial results for its fiscal year ending December 31, 2014.

Financial highlights for full year 2014 versus 2013:

  • Net sales increased 16% to a record $43.4 million driven by:

           20% gross sales growth of Reed’s Ginger Brews

           16.5% gross sales growth in Virgil’s Craft Soda

           38% gross sales growth in Kombucha

           Partially offset by 25% decline in Private Label business

  • Topline promotional activity decreased to 9.6% of sales versus 12.0% in the prior full year
  • Gross profit dollars increased 20% to $13 million – an increase $2.2 million
  • Plant efficiency improved by $521,000 to 5% of net sales versus 7% of net sales in 2013
  • Gross margin improved from 29% in 2013 to 30% in 2014
  • Operating expenses decreased as a percent of sales from 31% in 2013 to 30% in 2014
  • Renegotiated credit facility and decreased effective interest rate from 13.5% to 9%
  • Operating income for 2014 was $41,000 versus a loss of ($869,000) in 2013
  • EBITDA improved to $1.2 million in 2014 versus $13,000 in 2013. View full report here.

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Beverage

Reed's Inc.

July 15, 2009