Reed’s, Inc. (REED.OB) Enjoys Prosperous Second Quarter
QualityStocks (August 20th, 2008) Writes:
With products selling in over ten thousand natural foods outlets, award-winning Reed’s, Inc. is one of the leading producers of specialty sodas. Financial results for the second quarter/first half of 2008 came Tuesday, and contained some impressive numbers.
Growth of both Reed’s and Virgil’s product lines for the quarter ended June 30th, 2008, boosted net sales more than 31 percent, achieving a figure of $4,570,816 and besting second quarter 2007 results by $1,098,456. This increase was driven by improved sales by existing retailers, as well as the addition of several new mainstream distributors. Coupled with positive strides in sales was a decrease in interest expense, affected by significant payments into the company’s long-term debt.
In reference to his company’s exceptional performance thus far in 2008, founder and CEO Chris Reed stated, “We are pleased with our strong start to the first half of 2008 and we expect our positive momentum to carry
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