Increasing Revenues for 2010 Driven by Existing Brands & New Private Label AgreementsÂ Â Â April 20, 2010 — Reed’s, Inc. (NASDAQ:REED – News) (OTC.BB:REEDP – News) (“Reed’s, or the “Company”), maker of the top-selling sodas in natural food stores nationwide, announced today that the Company anticipates strong first quarter sales following on record fourth quarter revenues, which increased 21% over the prior year.
“We are excited with our fourth quarter 2009 and first quarter 2010 revenue increases. Most of the revenue increases are a result of increases in our branded business. This year we should see continued growth from our core brands as well as significant growth from our new initiatives, including the ‘Reed’s Rx’ line for nausea relief and our growing roster of private label accounts. We expect these newer initiatives, particularly the private label business, to start contributing significantly to revenue growth later this year. There are long lead times associated with getting private label relationships going with the large national chains we are pursuing.” said Mr. Chris Reed, Founder, Chairman and CEO of Reed’s, Inc. Added Mr. Reed, “We anticipate a minimum of 20% increase in revenues for fiscal 2010.”
Mr. Jim Linesch, Chief Financial Officer of Reed’s, Inc., commented, “We have kept strong controls over our costs, significantly lowered our operating expenses, and have positioned ourselves for the economic recovery that is now clearly under way.” Â He added, “We have been picking up momentum coming out of the economic downturn and are continuing to expand and introduce new products into the market and explore new sales channels.”