{"id":413827,"date":"2021-01-13T07:03:36","date_gmt":"2021-01-13T12:03:36","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=413827"},"modified":"2021-01-13T07:03:36","modified_gmt":"2021-01-13T12:03:36","slug":"reeds-inc-announces-preliminary-unaudited-fourth-quarter-and-full-year-2020-financial-results","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/reeds-inc-announces-preliminary-unaudited-fourth-quarter-and-full-year-2020-financial-results\/","title":{"rendered":"Reed\u2019s, Inc. Announces Preliminary Unaudited Fourth Quarter and Full Year 2020 Financial Results"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">NORWALK, Conn., Jan.  13, 2021  (GLOBE NEWSWIRE) &#8212; Reed\u2019s Inc. (Nasdaq: REED), owner of the nation\u2019s leading portfolio of handcrafted, all-natural beverages, today announced preliminary unaudited revenue results for the fiscal fourth quarter and full year 2020 ended December 31, 2020.<\/p>\n<p align=\"justify\">Reed anticipates nets sales for the fourth quarter of 2020 to be approximately $10.3 million, representing growth of 44% year-over-year and 22% sequentially over the previous quarter. For the full year of 2020, Reed\u2019s anticipates net sales to be approximately $41.3 million, a increase of 22% compared to $33.8 million for the full year of 2019. These figures are preliminary and unaudited, and actual revenues may differ.<\/p>\n<p align=\"justify\">\u201cWe are pleased to report continued net sales growth representing positive momentum across all channels,\u201d stated Norman E. Snyder, Chief Executive Officer of Reed\u2019s, Inc. \u201cDespite the challenges we have navigated in the face of the pandemic this year, these results demonstrate the continued support for the Reed\u2019s brand and the future opportunities that lie ahead.\u201d<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>About Reed\u2019s, Inc.<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Established in 1989, Reed&#8217;s\u00ae is America&#8217;s number 1 name in Ginger and America\u2019s best-selling Ginger Beer brand and innovator for decades. Virgil&#8217;s\u2122 is America&#8217;s best-selling independent, full line of natural craft sodas. The Reed&#8217;s\u00ae portfolio is sold in over 40,000 retail doors nationwide. Reed&#8217;s core product line of Original, Extra and Strongest Craft Ginger Beers, along with the Certified Ketogenic Zero Sugar Extra Ginger Beer are unique due to the proprietary process of using fresh ginger root combined with a Jamaican inspired recipe of natural spices and fruit juices. The company uses this same handcrafted approach in its award-winning Virgil&#8217;s\u2122 line of great tasting, bold flavored craft sodas and Certified Ketogenic Zero Sugar Varieties.<\/p>\n<p align=\"justify\">For more information about Reed\u2019s, please visit the Company\u2019s website at: http:\/\/www.drinkreeds.com or call 800-99-REEDS. Follow Reed\u2019s on Twitter, Instagram, and Facebook @drinkreeds.<\/p>\n<p align=\"justify\">For more information about Virgil\u2019s, please visit Virgil\u2019s website at: http:\/\/www.virgils.com. Follow Virgil\u2019s on Twitter and Instagram @drinkvirgils and on Facebook @drinkvirgilssoda.<\/p>\n<p align=\"justify\">\n        <strong><br \/>\n          <u>Forward-Looking Statements<\/u><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">Some portions of this press release, particularly those describing Reed\u2019s goals and strategies, contain \u201cforward-looking statements.\u201d These forward-looking statements can generally be identified as such because the context of the statement will include words, such as \u201cexpects,\u201d \u201cshould,\u201d \u201cbelieves,\u201d \u201canticipates\u201d or words of similar import. Similarly, statements that describe future plans, objectives or goals are also forward-looking statements. While Reed\u2019s is working to achieve those goals and strategies, actual results could differ materially from those projected in the forward-looking statements as a result of a number of risks and uncertainties. These risks and uncertainties include difficulty in marketing its products and services, maintaining and protecting brand recognition, the need for significant capital, dependence on third party distributors, dependence on third party brewers, increasing costs of fuel and freight, protection of intellectual property, competition and other factors, any of which could have an adverse effect on the business plans of Reed\u2019s, its reputation in the industry or its expected financial return from operations and results of operations. In light of significant risks and uncertainties inherent in forward-looking statements included herein, the inclusion of such statements should not be regarded as a representation by Reed\u2019s that they will achieve such forward-looking statements. For further details, please see our most recent reports on Form 10-K and Form 10-Q, as filed with the Securities and Exchange Commission, as they may be amended from time to time. Reed\u2019s undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future events, or otherwise.<\/p>\n<p align=\"justify\">\n        <strong>Cautionary Note Regarding Preliminary Financial Information, Financial Guidance and Growth<\/strong>\n      <\/p>\n<p align=\"justify\">Preliminary financial information, financial guidance and growth disclosure should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. Estimated preliminary results are subject to completion of our customary quarterly and annual financial closing and audit and review procedures and are not comprehensive statements of our financial results for the three months and fiscal year ended December 31, 2020 and are subject to adjustments as a result of such procedures. In addition, preliminary financial information and accelerated growth disclosure is not necessarily indicative of the results to be achieved in any future period. Our financial statements and related notes as of and for the fiscal year ended December 31, 2020 is expected to be filed with the SEC during March of 2021.<\/p>\n<p>\n        <strong>CONTACTS: <\/strong>\n      <\/p>\n<p>Investor Relations<br \/>Scott Van Winkle, ICR<br \/>(800) 997-3337 Ext 2<br \/>Or (617) 956-6736<br \/>Email:\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=-7XojMtNthVddMK-zFTJvzuogNtemC0jtKD8Yb0YUE-PEaX98wg2djarlTiONZ5FD8gGfOGnF1iVTJ3ZwlyElw==\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">ir@reedsinc.com<\/a><br \/>www.reedsinc.com<\/p>\n<p>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODEyNTA0NyMzOTE2OTA2IzIwMjA3NjA=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/d92b5542-fbe5-4a44-b07e-c8ec818f98c9\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>NORWALK, Conn., Jan. 13, 2021 (GLOBE NEWSWIRE) &#8212; Reed\u2019s Inc. (Nasdaq: REED), owner of the nation\u2019s leading portfolio of handcrafted, all-natural beverages, today announced preliminary unaudited revenue results for the fiscal fourth quarter and full year 2020 ended December 31, 2020. Reed anticipates nets sales for the fourth quarter of 2020 to be approximately $10.3 million, representing growth of 44% year-over-year and 22% sequentially over the previous quarter. For the full year of 2020, Reed\u2019s anticipates net sales to be approximately $41.3 million, a increase of 22% compared to $33.8 million for the full year of 2019. These figures are preliminary and unaudited, and actual revenues may differ. \u201cWe are pleased to report continued net sales growth representing positive momentum &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/reeds-inc-announces-preliminary-unaudited-fourth-quarter-and-full-year-2020-financial-results\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Reed\u2019s, Inc. Announces Preliminary Unaudited Fourth Quarter and Full Year 2020 Financial Results&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-413827","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Reed\u2019s, Inc. Announces Preliminary Unaudited Fourth Quarter and Full Year 2020 Financial Results - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/reeds-inc-announces-preliminary-unaudited-fourth-quarter-and-full-year-2020-financial-results\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Reed\u2019s, Inc. Announces Preliminary Unaudited Fourth Quarter and Full Year 2020 Financial Results - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"NORWALK, Conn., Jan. 13, 2021 (GLOBE NEWSWIRE) &#8212; Reed\u2019s Inc. (Nasdaq: REED), owner of the nation\u2019s leading portfolio of handcrafted, all-natural beverages, today announced preliminary unaudited revenue results for the fiscal fourth quarter and full year 2020 ended December 31, 2020. Reed anticipates nets sales for the fourth quarter of 2020 to be approximately $10.3 million, representing growth of 44% year-over-year and 22% sequentially over the previous quarter. For the full year of 2020, Reed\u2019s anticipates net sales to be approximately $41.3 million, a increase of 22% compared to $33.8 million for the full year of 2019. These figures are preliminary and unaudited, and actual revenues may differ. \u201cWe are pleased to report continued net sales growth representing positive momentum &hellip; Continue reading &quot;Reed\u2019s, Inc. 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Reed anticipates nets sales for the fourth quarter of 2020 to be approximately $10.3 million, representing growth of 44% year-over-year and 22% sequentially over the previous quarter. For the full year of 2020, Reed\u2019s anticipates net sales to be approximately $41.3 million, a increase of 22% compared to $33.8 million for the full year of 2019. These figures are preliminary and unaudited, and actual revenues may differ. \u201cWe are pleased to report continued net sales growth representing positive momentum &hellip; Continue reading \"Reed\u2019s, Inc. 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