NewAge Inc (fka NBEVQ) (NBEVQ)

[Timetravelerdos]

New Age Beverages Corporation Announces 1st Quarter 2019 Net Revenue Growth of 404%

Outstanding Highlights
Gross revenue reached $60.5 million, up $47.7 million vs. prior year. Net Revenue increased to $58.3 million, up 404%.
Balance sheet significantly strengthened with $110.0 million in cash versus $42.5 million at year-end, and total assets of $349.5 million versus $286.9 million on December 31, 2018
Positive Operating Cash Flow of $11.4 million and EBITDA of $0.6 million
New credit facility emplaced with East West Bank totaling $25.0 million at ˜6% annual interest.
Brent Willis, Chief Executive Officer of New Age stated, ''We are pleased with our first quarter operating results, especially in light of the fact that we were in the midst of integrating Morinda into New Age. With our strengthened balance sheet and financial flexibility, we look to accelerate our business in the second half of 2019, buttressing our organic growth coming from the launch of our CBD portfolio, our brands now entering national distribution in the US, and a number of other initiatives launching in the second quarter and throughout the rest of the year.''



https://finance.yahoo.com/news/age-beverages-corporation-announces-1st-110000705.html