LOS ANGELES, CA--(Marketwire - Nov 9, 2012) - Reed's, Inc. ( NASDAQ : REED ), maker of the top-selling sodas in natural food stores nationwide, today announced its revenues for its third quarter ended September 30, 2012, and its earnings release date of November 14, 2012.
Revenues for the third quarter of 2012 increased 23% to $7.9 million. Year to date revenues were $22.3 million, an increase of 26% from 2011.
"The third quarter continues to see our top line growth expand at over 20% per quarter for the last three years. In addition, we launched Reed's Culture Club Kombucha, which has become one of our most successful product launches in company history. We spent aggressively on the Kombucha launch and the start up costs have resulted in minimal net income this quarter, however, we have still maintained profitability. In 2012, our two big growth drivers for the company were our branded and private label business. We have now created a third, and possibly the strongest, growth driver in our new line of Kombucha," stated Chris Reed, Founder and CEO.
The Company will conduct a conference call @ 4:15PM EST on November 14th to discuss its 2012 third quarter results and outlook for the future. To participate in the call, please dial the following number 5 to 10 minutes prior to the scheduled call time (866) 240-5139. International callers should dial (713) 481-0091.
Reed's, Inc. makes the top-selling natural sodas in the natural foods industry sold in over 13,000 natural food markets and supermarkets nationwide. Its six award-winning non-alcoholic Ginger Brews are unique in the beverage industry, being brewed, not manufactured and using fresh ginger, spices and fruits in a brewing process that predates commercial soft drinks. The Company owns the top-selling root beer line in natural foods, the Virgil's Root Beer product line, and the top-selling cola line in natural foods, the China Cola product line. In 2012, the Company launched Reed's Culture Club Kombucha line of organic live beverages. Other product lines include: Reed's Ginger Candies and Reed's Ginger Ice Creams. In 2009, Reed's started producing private label natural beverages for select national chains. Reed's products are sold through specialty gourmet and natural food stores, mainstream supermarket chains, retail stores and restaurants nationwide, and in Canada, as well as through private label relationships with major supermarket chains.
For more information about Reed's, please visit the Company's website at: http://www.reedsinc.com or call 800-99-REEDS.