LOS ANGELES, Aug. 13, 2015 (GLOBE NEWSWIRE) -- Reed's, Inc., maker of the top-selling sodas in natural food stores nationwide, today announced the financial results for its fiscal second quarter ending June 30, 2015.
Financial Overview: Second Quarter 2015 Compared to Second Quarter 2014
- Net revenue increased 9% to a record $12.2 million
- Promotional spend decreased from 9.5% to 7.5% of gross sales
- Gross profit decreased slightly to $3.6 million
- Gross profit margin decreased 300 basis points to 30%
- Company had a net loss of ($691,000) or ($0.05) per diluted share
- Modified EBITDA was $94,000 during the 2015 second quarter (See EBITDA table at end of this release for further non-GAAP information).
- Reed's Ginger Brew sales increased by 22%
- Reed's Culture Club Kombucha sales increased by 15%
- Successful launch of private label Kombucha offering
