News / Business
QualityStock's Smallcap Stock Clients - Reed's, Inc. (REED.OB)
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Reed's, Inc. is one of our highlighted companies this month. The company engages in the development, manufacture, marketing, and sale of New Age beverages, as well as candies and ice creams. Its New Age beverages category includes natural soda, fruit juices and fruit drinks, ready-to-drink teas, sports drinks, and water.
In our client’s news today,
Chris Reed, Founder and Chief Executive Officer of Reed’s, stated that the company is very pleased with the first quarter results after breaking a new record in excess of 50%. Net Sales increased 52.2% and Gross Profit reached $540,000, an increase of 85.8%. The Gross Profit Margin also increased greatly from 3.2% to 17.9%.
The company’s core growth strategy lays in broadening their brand recognition through additional points of distribution. Their recently announced exclusive distribution agreements with Manhattan Beer Distributors, Columbia Distribution and Great State Beverages will enable them to distribute to the mainstream marketplace and generate additional brand awareness.
In conclusion, Mr. Reed stated, “Throughout the remainder of 2007 we will continue to build upon our leadership position within the high-growth ‘New Age’ beverage category. We are excited to launch our Virgil’s diet soda line during the second quarter of 2007 which will allow us to reach a larger audience and further expand our distribution network. Additionally, we see opportunity to further expand and enhance our product offering through specialty packaging and co-branding marketing opportunities. As a result, we believe we are well-positioned for growth for the remainder of 2007 and beyond.”
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