NORWALK, Conn., Jan. 13, 2021 (World NEWSWIRE) — Reed’s Inc. (Nasdaq: REED), proprietor of the nation’s leading portfolio of handcrafted, all-organic drinks, now declared preliminary unaudited earnings results for the fiscal fourth quarter and full 12 months 2020 ended December 31, 2020.
Reed anticipates nets gross sales for the fourth quarter of 2020 to be close to $10.3 million, representing expansion of 44% calendar year-above-calendar year and 22% sequentially around the previous quarter. For the full year of 2020, Reed’s anticipates web income to be about $41.3 million, a enhance of 22% in comparison to $33.8 million for the comprehensive calendar year of 2019. These figures are preliminary and unaudited, and precise revenues may differ.
“We are happy to report ongoing internet revenue progress representing positive momentum throughout all channels,” said Norman E. Snyder, Chief Executive Officer of Reed’s, Inc. “Despite the difficulties we have navigated in the facial area of the pandemic this calendar year, these success reveal the continued assistance for the Reed’s brand name and the foreseeable future possibilities that lie forward.”
About Reed’s, Inc.
Recognized in 1989, Reed’s® is America’s selection 1 title in Ginger and America’s best-marketing Ginger Beer brand name and innovator for decades. Virgil’s™ is America’s best-selling independent, comprehensive line of pure craft sodas. The Reed’s® portfolio is marketed in more than 40,000 retail doorways nationwide. Reed’s core product line of First, Excess and Strongest Craft Ginger Beers, along with the Certified Ketogenic Zero Sugar More Ginger Beer are exclusive because of to the proprietary approach of using clean ginger root put together with a Jamaican inspired recipe of normal spices and fruit juices. The enterprise works by using this similar handcrafted solution in its award-winning Virgil’s™ line of terrific tasting, daring flavored craft sodas and Certified Ketogenic Zero Sugar Varieties.
For extra facts about Reed’s, you should check out the Company’s web site at: http://www.drinkreeds.com or phone 800-99-REEDS. Follow Reed’s on Twitter, Instagram, and Facebook @drinkreeds.
For additional details about Virgil’s, please pay a visit to Virgil’s web site at: http://www.virgils.com. Stick to Virgil’s on Twitter and Instagram @drinkvirgils and on Fb @drinkvirgilssoda.
Ahead-Seeking Statements
Some portions of this push launch, specifically people describing Reed’s targets and tactics, comprise “forward-on the lookout statements.” These forward-wanting statements can generally be identified as this kind of mainly because the context of the statement will consist of phrases, these as “expects,” “should,” “believes,” “anticipates” or phrases of similar import. Equally, statements that describe foreseeable future options, goals or targets are also forward-looking statements. While Reed’s is functioning to reach those people ambitions and techniques, precise outcomes could differ materially from people projected in the forward-on the lookout statements as a result of a quantity of threats and uncertainties. These threats and uncertainties contain issues in promoting its products and providers, protecting and preserving brand name recognition, the want for considerable funds, dependence on 3rd occasion distributors, dependence on 3rd celebration brewers, expanding expenditures of gas and freight, safety of intellectual residence, competition and other factors, any of which could have an adverse effect on the enterprise ideas of Reed’s, its standing in the industry or its predicted money return from functions and effects of functions. In mild of substantial challenges and uncertainties inherent in forward-on the lookout statements included herein, the inclusion of these kinds of statements ought to not be regarded as a illustration by Reed’s that they will reach these ahead-on the lookout statements. For further aspects, you should see our most the latest studies on Kind 10-K and Type 10-Q, as filed with the Securities and Exchange Fee, as they may well be amended from time to time. Reed’s undertakes no obligation to publicly update any ahead-seeking statement, whether or not as a consequence of new info, potential activities, or usually.
Cautionary Notice About Preliminary Economic Info, Economical Guidance and Advancement
Preliminary financial info, financial steering and development disclosure should not be viewed as a substitute for comprehensive monetary statements geared up in accordance with GAAP. Estimated preliminary outcomes are subject matter to completion of our customary quarterly and annual economic closing and audit and assessment methods and are not detailed statements of our fiscal results for the a few months and fiscal calendar year ended December 31, 2020 and are subject to changes as a result of this kind of strategies. In addition, preliminary economical information and accelerated advancement disclosure is not automatically indicative of the benefits to be reached in any future interval. Our economical statements and relevant notes as of and for the fiscal year finished December 31, 2020 is envisioned to be submitted with the SEC throughout March of 2021.
CONTACTS:
Investor Relations
Scott Van Winkle, ICR
(800) 997-3337 Ext 2
Or (617) 956-6736
E-mail: ir@reedsinc.com
www.reedsinc.com