Reeds Inc. (REED): Not really. Q2 2012 the company had net...

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bluestem1

Re: gumbie05 post# 660

Tuesday, 08/15/2017 11:27:43 AM

Tuesday, August 15, 2017 11:27:43 AM

Not really. Q2 2012 the company had net income of 444,000 and Q2 2014 it had net income of 633,000. But it has not made an annual profit for as long as I have been tracking (going back to 2003). I tried to post the spreadsheet, but with the formatting it looked terrible.

I'm not sure what happens now. Kombucha is being written off as non-core. Just last quarter they talked about rebooting the line in the Fall and having new packaging that appeals to millennials. Fountain wasn't even mentioned on the call and looks to be DOA. Now the company is focusing on its low calorie line. So naturally brewed soda with fresh ginger and spring water with some kind of new lab created blend of artificial sweeteners. It sounds like it will appeal to no one.

The plant equipment upgrades it has been touting for the past three years appear to be a waste. It is now looking at pivoting to an asset-light model.