Petit deviendra grand !First Quarter 2010 Highlights:
First quarter sales increased 17% to a record $4.0 million.
Gross profit in the first quarter increased 26% to $1.1 million.
Gross margin in the first quarter increased by 200 basis points to 27%.
Operating expenses in the first quarter decreased by $86,000, or 7% to $1.2 million.
EBITDA for the first quarter was $172,000, as compared to an EBITDA loss of $159,000 in the first quarter of 2009 (See EBITDA table at end of this release for further non-GAAP information).
Cash plus revolving LOC availability was $1.3 million at March 31, 2010, as compared to $1.5 million at December 31, 2009.
Working capital increased by approximately $500,000 during the quarter, to $2.5 million
Ramped up private label business with the addition of third private label customer.
Began production/shipment of new ‘Reed’s Rx’ Remedy for Nausea and Motion Sickness.
‘Reed’s Rx’ Natural Ginger Nausea Relief gained placements in over 7,000 CVS/Pharmacy locations nationwide.
Expanded relationship with Kroger’s and Woodman’s Food Market; and established new relationship with Associated Wholesale Grocers (AWG).
First quarter sales increased 17% to a record $4.0 million.
Gross profit in the first quarter increased 26% to $1.1 million.
Gross margin in the first quarter increased by 200 basis points to 27%.
Operating expenses in the first quarter decreased by $86,000, or 7% to $1.2 million.
EBITDA for the first quarter was $172,000, as compared to an EBITDA loss of $159,000 in the first quarter of 2009 (See EBITDA table at end of this release for further non-GAAP information).
Cash plus revolving LOC availability was $1.3 million at March 31, 2010, as compared to $1.5 million at December 31, 2009.
Working capital increased by approximately $500,000 during the quarter, to $2.5 million
Ramped up private label business with the addition of third private label customer.
Began production/shipment of new ‘Reed’s Rx’ Remedy for Nausea and Motion Sickness.
‘Reed’s Rx’ Natural Ginger Nausea Relief gained placements in over 7,000 CVS/Pharmacy locations nationwide.
Expanded relationship with Kroger’s and Woodman’s Food Market; and established new relationship with Associated Wholesale Grocers (AWG).
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