We would like to highlight Clearly Canadian Beverage Corp. (OTCBB: CCBEF). The company markets premium alternative beverages, including Clearly Canadian(R) sparkling flavored waters and Clearly Canadian dailyEnergy, dailyVitamin and dailyHydration Natural Enhanced Waters which are distributed in the United States, Canada and various other countries. Clearly Canadian's recent acquisition of DMR Food Corporation and My Organic Baby Inc. marks the Company's debut into organic and natural products with a full line of organic baby and toddler foods.
In the company’s recent news,
Clearly Canadian Beverage Corp. (CCBEF.OB) reported the company’s second quarter financial results for the period ending June 30, 2008. Clearly Canadian reported quarterly revenues of $2.53 million compared to revenues totaling $3.0 million during the same period one-year earlier. The company’s net loss totaled $0.07 per share, compared to a loss of $0.25 per share during the second quarter of 2007.
The company also announced an agreement with Cott Corporation, the largest private bottling group in the world, to bottle Clearly Canadian Beverages in 20 ounce and 1 liter sizes. Under the terms of the agreement, Cott Corporation will bottle Clearly Canadian sparkling flavored waters for distribution throughout North America. This agreement, along with the launch of a new phase of Clearly Canadian products, is expected to deliver significantly greater revenue and margins in the coming quarters.
During a recent conference call, David Reingold, the president of Clearly Canadian, stated, “We have greatly reduced our expense structure in the U.S. during the second quarter, as we transition down our beverage operation to prepare for new product launches. Mr. Reingold concluded, “I am pleased with our performance and remain very optimistic about the third and fourth quarters, which are normally very busy times for us, and we will also be launching most of our new business into the marketplace during this time. Our team is working very hard to bring Clearly Canadian back to EBITDA profitability in 2009.”
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
