Clearly Canadian Beverage Corp. (CCBEF.OB), a marketer of premium alternative beverages, including Clearly Canadian® sparkling flavored waters and Clearly Canadian dailyEnergy, dailyVitamin and dailyHydration Natural Enhanced Waters, recently reported the company’s second quarter financial results for the period ending June 30, 2008.
Clearly Canadian reported quarterly revenues of $2.53 million compared to revenues totaling $3.0 million during the same period one-year earlier. The company’s net loss totaled $0.07 per share, compared to a loss of $0.25 per share during the second quarter of 2007.
The company also announced an agreement with Cott Corporation, the largest private bottling group in the world, to bottle Clearly Canadian Beverages in 20 ounce and 1 liter sizes. Under the terms of the agreement, Cott Corporation will bottle Clearly Canadian sparkling flavored waters for distribution throughout North America. This agreement, along with the launch of a new phase of Clearly Canadian products, is expected to deliver significantly greater revenue and margins in the coming quarters.
During a recent conference call, David Reingold, the president of Clearly Canadian, stated, “We have greatly reduced our expense structure in the U.S. during the second quarter, as we transition down our beverage operation to prepare for new product launches. Mr. Reingold concluded, “I am pleased with our performance and remain very optimistic about the third and fourth quarters, which are normally very busy times for us, and we will also be launching most of our new business into the marketplace during this time. Our team is working very hard to bring Clearly Canadian back to EBITDA profitability in 2009.”
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