KOLOA, Hawaii – KonaRed Corporation, manufacturers of Antioxidant Juices and nutritional supplements from the unique and exclusive Hawaiian CoffeeBerry, coffee fruit from Kona, Hawaii, have announced financial results for the third quarter and nine months ended September 30, 2014.
Q3 2014 Financial Summary
- Net sales increased 95% to 341,264 for the third quarter ended September 30, 2014 as compared to $174,581 for the same period in 2013
- Product sales increased 97% to $332,867 for the third quarter ended September 30, 2014 as compared to the product sales of $169,262 for the same period in 2013
- Consumer product sales for the three month ended September 20, 2014 was $328,667, a 439% increase from $60,944 as compared to the same period in 2013
- Investment in advertising and marketing increased to $252,404 for the third quarter ended September 30, 2014 as compared to $32,452 for the same period in 2013
- General and administrative costs were $562,494 for the three months ended September 30, 2014
- Net loss for the third quarter ended September 30, 2014 was $752,485, or $0.01 per share
Nine Months Ended September 30, 2014 Financial Summary
- Net sales increased 46% to 1.26 million for the nine months ended September 30, 2014 as compared to $0.87 million for the same period in 2013
- Product sales increased 39% to $1.18 million for the nine months ended September 30, 2014 as compared to $0.85 million for the same period in 2013
- Consumer Product Sales for the nine months of 2014 was $1.11 million, a 120% increase from $504,404 as compared to the same period in 2013
- Investment in advertising and marketing increased to $714,309 for the nine months ended September 30, 2014 as compared to $73,988 for the same period in 2013
- General and administrative costs were $2.47 million for the nine months ended September 30, 2014
- Net loss for the nine months ended September 30, 2014 was $2.95 million, or $0.04 per share
- Sales increases attributed to key initiatives that include Company’s alliance with Splash Beverage Group and the expansion of its distribution network into national chain stores Walmart, Kroger, and Vitamin Shoppe
KonaRed finished the quarter with a cash balance of $600,450
KonaRed’s CEO Shaun Roberts stated, “We hit several milestones this quarter, both operationally and financially, that further expand our footprint in the functional wellness beverage market. We generated triple digit product sales growth for the 3rd quarter and have been successful in adding new stores and retail partners through our distribution channels. We continue to work hard and diversify our revenue stream to generate value for our shareholders.”
