Reed’s, Inc. Announces Second Quarter 2018 Financial Results
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Reed's (REED) Misses Q2 EPS by 7c, Revenues Beat
August 13, 2018 4:12 PM EDTReed's (NYSE: REED) reported Q2 EPS of ($0.13), $0.07 worse than the analyst estimate of ($0.06). Revenue for the quarter came in at $9.39 million versus the consensus estimate of $9.21 million.
Net Sales increased 6% to $9.4 million from $8.9 million in the prior year, core brand gross sales increased 13%;Gross margin increased 1340 basis points to 32% from 19% in the prior year period. Sequentially, gross margin increased 460 basis points from the first quarter of 2018. Gross profit increased 81% to $3.0 million from $1.7 million in the prior year period;Operating loss was $2.8 million compared to $1.2 million in the... More
