Reed’s, Inc. (REED.OB), reported their financial results for the first quarter ended March 31, 2007. Net Sales increased 52.2% to approximately $3.0 million compared to the same period last year. Gross Profit increased 85.8% to approximately $540,000 while
Gross Profit Margin increased 3.2% to 17.9%.
Record Sales Growth In Excess of 50% is a Huge Gain for the Company.
“We are very pleased with our first quarter results as we achieved record sales growth in excess of 50% over the prior year period validating the strong demand for our product offering within the mainstream marketplace,” commented Chris Reed, Founder and Chief Executive Officer.
“During the first quarter, we benefited from the utilization of our IPO proceeds which enabled us to establish the necessary infrastructure to meet the significant demand for our product offering.
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