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Skinny Sees 58% Jump in Q1 |
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Wednesday, 19 May 2010 13:55 |
Skinny Nutritional Corp. achieved net revenues of $1,778,718 for three months ending March 31, 2010. This represents an increase of $652,965, or 58 percent, over revenues of $1,125,753 for the same period ending March 31, 2009.
The company sold 219,255 cases of Skinny Water for the period ending March 31, 2010 compared to 133,265 cases for the same period in 2009, an increase of 65 percent, (1 case equals 12 16-ounce bottles). This represents the most sales in a quarter in the history of the company, it says.
These improvements are a result of the company increasing the volume of product shipments due to the development of its relationship with national chains and the increase in its distribution network to 56 distributors in 26 states, which service approximately 5,000 chain outlets.
"We are very pleased with the growth of Skinny Water in the cold winter months. We have spent a lot of time in 2009 on upgrading our distribution network. We are now starting to see the results of these upgrades. This is the most cases we have sold in a quarter and we are looking forward to getting into our prime selling season this summer," says Michael Salaman, chairman of Skinny Nutritional Corp.
The company incurred a net loss from operations of $1,036,873 for the three months ended March 31, 2010, inclusive of a non-cash loss of $495,356 as compared to a net loss of $847,827, inclusive of non-cash loss of $240,308 for the three months ended March 31, 2009.
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The largest independently owned juice company in the US, Apple & Eve continues to grow with its line of pure, natural juices in an increasingly health-minded beverage market.