Reed’s, Inc. (REED) Releases 3rd Quarter 2008 Financials
Tuesday (November 11th) brought the announcement of pleasing financial results for the quarter ended September 30th, 2008 from beverage maker, Reed's., Inc. Compared to the same period in 2007, the company enjoyed increased gross profits of $1.3 million; up over sixty percent. Additionally, Reed's observed a net sales increase of nine percent, while a positive Adjusted EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) of $131,983 was achieved. Net loss attributable to common stockholders was dramatically reduced to $174,000 from $1,526,000 the year prior. Also falling substantially were the company's operating expenses, which decreased to 32.5 percent of net sales,…