New Age Beverages Reports Q1 2017 Earnings And Progress Against Major Strategic Priorities
Source New Age Beverages Corporation
Revenues up 1,842% for the quarter on record sales for the Company
Gross Profit up 2,627% reflecting the initial capture of cost synergies and improvements in COG
Integration of the Marley Beverage Company and Coco-Libre acquisitions in Q1 on track to deliver substantial additional scale and profit
DENVER, CO--(Marketwired - May 16, 2017) - New Age Beverages Corporation (NASDAQ: NBEV) the Colorado-based leading all-natural tea and healthy functional beverage company whose brands include XingTea®, XingEnergy®, Aspen Pure®, Búcha® Live Kombucha, Marley One Drop®, Marley Mellow Mood®, and CocoLibre® today announced earnings for its first quarter ended March 31, 2017.
In Q1 2017 New Age delivered $11.4 million in gross revenue, up $1,842% versus prior year actuals and up 7.2% organically on a pro-forma basis, not including the results of the Marley or Coco-Libre acquisitions. Brent Willis, Chief Executive Officer of New Age Beverages commented, "The first quarter of 2017 continued at the pace we established in 2016. Just one of the accomplishments in Q1 was the uplist onto the NASDAQ -- but on top of that we are operationally executing, growing organically, integrating new companies, and developing new products leveraging our R&D expertise. The impact of these will begin to be seen in Q2 as the new companies and brands are integrated and fully consolidated in our financial results."
