Reeds, Inc. (REED) Posts 2007 Forecast, Increase in Sales for the Year
Reeds, Inc. (NASDAQ: REED) recently announced its estimates for fiscal 2007, based on an increased sales force, expanded marketing effort and public guidance issued by management. The company anticipates sales for 2007 at $13.901 million, up from a prior 2007 estimate of $13.630 million, and a jump from $10.484 million reported in 2006. Though Reed’s gross margin of 18.98% was lower than that reported in 2006, it was an increase from a prior forecast of 17.97%; this is primarily because the company’s main co-pack production facility increased its prices. Reed’s also recently announced the expansion of its California facility which…