Los Angeles, California, Dec. 7, 2010 — 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 projects 2010 year-over-year revenue growth to exceed 30% as sales continue to increase across all product categories.
“Sales continue to accelerate coming out of a record third quarter,” stated Chris Reed, Founder, Chairman and CEO of Reed’s, Inc. “Sales continue to increase across all areas of our business. We predicted an acceleration of private label business in the second half of 2010 and that has in fact occurred. Also, our branded business continues to experience strong growth. Our guidance for 2010 revenue growth was for a minimum of 20% revenue growth. We are pleased to see even with the threat of an economic double dip that revenue growth has come in as predicted. Our opinion is that 2011 will be even stronger as our branded and private label business continue to grow.”