Company Plans New Product Launches Beginning in First Quarter
Los Angeles, California, Jan. 20, 2011 —Reed’s, Inc. (NASDAQ:REED – News) (OTC.BB:REEDP – News), maker of the top-selling sodas in natural food stores nationwide, announced today that it anticipates minimum top line growth of 30% in 2011 as it expands revenue opportunities for its brands and its private label initiative.
“We’re probably entering 2011 with more momentum and prospects than what we had at the beginning of 2010. We’re anticipating solid growth in 2011 with sales of both our branded and private label products expected to increase,” stated Mr. Chris Reed, Founder, Chairman and CEO of Reed’s, Inc. “Our core Reed’s and Virgil’s brands are performing very well and we expect our recently re-launched Virgil’s Zero line of no calorie Stevia-sweetened beverages to contribute significantly. We have a number of new launches for 2011 that will be very exciting. These new product launches will start in the first quarter of this year. We have a very healthy queue of potential private label customers and expect to bring on at least four or five new customers in 2011 to add to our current four national chains customers. Â Operating expenses are not growing as fast as gross profits so we should continue to move into profitability. 2011 will see acceleration of consumer exposure campaigns around our brands. We should be able to continue our healthy expansion without the need for additional capital raises.”