Clearly Canadian Beverage (fka CCBEF)

[copytech]

Clearly Canadian Announces Second Quarter 2008 Financial Results, Conference Call and Web-Cast
Wednesday August 27, 4:05 pm ET


TORONTO--(BUSINESS WIRE)--CLEARLY CANADIAN BRANDS (OTCBB:CCBEF - News) (the “Company”) today announced revenue results for the second quarter 2008.
ADVERTISEMENT


Total revenues for the three months ended June 30, 2008 were down 15% year-over-year to $2.53 million compared to $2.99 million for the same period in 2007. Total revenues for the six months ended June 30, 2008 were up 9.7% year-over-year to $4.94 million compared to $4.46 million for the same period in 2007. The six month year-over-year revenue growth is attributable to growth in the Company’s healthy snack divisions and organic baby food divisions while the 2nd quarter decline in revenues is due to the Company’s active redevelopment of its beverage division from reliance on selling its well known brand of Clearly Canadian sparkling flavored waters in single serve glass format to selling it in various PET packages using strategically located beverage production partners, such as the Cott Corporation. The company also reported cash on hand of $2,664,000.

Bobby Genovese, CEO of Clearly Canadian Brands, stated, “We are very pleased to announce that we continue to grow top line revenues through the first half of 2008. We are particularly encouraged to have accomplished this growth while undergoing a transformation of our sparkling flavored water beverage business, which has necessitated a reduction in inventory and sales. With our recent announcement that the Cott Corporation will now be producing our sparkling flavored waters in various PET formats, we are set to launch a new phase for Clearly Canadian beverages which we believe will bring in significantly greater revenue and margins.”

Mr. Genovese further stated, “Despite ongoing cost challenges faced by all food and beverage companies, we are extremely pleased with our progress towards building a sustainably profitable company. We are confident that we are on target to meet our projections of annualized revenue in the range of $16 million for 2008. And as we continue to achieve efficiencies with our selling, general and administration expenses, we believe the company will be profitable on an EBITDA basis in 2009.”

Conference Call and Web-Cast

The Company will hold a conference call to discuss its financial results on August 27, 2008 at 4:15 p.m. EST. The live phone call-in number is 800-909-4798. The conference will also be web-cast live and can be accessed on the Company's website at www.clearly.ca. A replay of the web-cast will be available on the site for the following 90 days.