Bravo! Brands Reports Third Quarter 2006 Financial Results
14 Novembre 2006 - 10:05PM
PR Newswire (US)
- Revenue Increases 58% NORTH PALM BEACH, Fla., Nov. 14
/PRNewswire-FirstCall/ -- Bravo! Brands Inc. (OTC:BRVO) (BULLETIN
BOARD: BRVO) , a brand development and marketing company that
promotes and distributes vitamin-fortified, flavored milk drinks
and other beverages, announced today that total revenue for third
quarter 2006 was $5.1 million, an increase of 58% over third
quarter 2005 revenue of $3.2 million. The increase in revenue for
the three months ended September 30, 2006 was the result of an
increase in market penetration and distribution of the Company's
products through Coca-Cola Enterprises. Bravo! reported a $10.5
million loss from operations in the third quarter 2006 as compared
to a $1.6 million loss from operations for the third quarter 2005.
Higher general and administrative expenses as well as increased
selling expense was the cause for the decrease in operating income.
The company reported a net loss applicable to common shareholders
of $1.7 million for the three months ended September 30, 2006 as
compared to net income of $17.5 million in the same period of prior
year. In the third quarter of 2006, the Company reported derivative
income of $11.1 million as compared to derivative income of $23.3
million in the comparable period of the prior year. Net loss per
share was $0.01 in the third quarter 2006 as compared to earnings
per share of $0.15 for the three months ended September 30, 2005.
Weighted average shares outstanding increased to 194.5 million
shares in the third quarter 2006 from 113.7 million shares in the
third quarter 2005. The increase in the number of weighted average
shares outstanding was attributable to the exercise of warrants and
private placement financings. Roy Warren, Chief Executive Officer,
commented, "With increased capacity coming on line during the third
quarter, we were able to significantly increase our sales. Because
of the increased capacity we were also able to more aggressively
market our flavored milk products helping to build brand
awareness." Added, Mr. Warren, "We are extremely pleased to have
our SB-2 Registration Statement declared effective by the SEC. This
enabled the Company to receive the remaining $15 million from the
company's recent private placement financing. The receipt of these
funds, combined with our recently announced increased production
capacity from Hood, positions the Company well for the fourth
quarter, and as we move into 2007 we are equally excited about the
opportunities ahead." Additional information can be found in Bravo!
Brands Inc. Current Report on Form 10-QSB filed with the Securities
and Exchange Commission on November 14, 2006. Conference Call
Bravo! will host a conference call on November 14, 2006 at 4:30
p.m. Eastern Time to discuss these results. Roy G. Warren, the
Company's Chief Executive Officer, and Jeffrey J. Kaplan, the
Company's Chief Financial Officer, will be hosting the call. The
call in number for today's call is 877-407-9205 (International:
201-689-8054). No Passcode required. The call will be webcast and
can be accessed from the company's website at
http://www.bravobrands.com/ with the webcast link available under
the investor section. If you are unable to participate on the live
call, a replay will be available until November 16, 2006 at 11:59
p.m. Eastern Time and can be accessed by dialing 877-660-6853
(International: 201-612-7415); enter account number 286; conference
identification number 219963. The webcast will be archived on the
Company's website. About the Company Bravo! Brands Inc. develops,
brands, markets, distributes and sells nutritious, flavored milk
products throughout the 50 United States, Great Britain and various
Middle Eastern countries. Bravo!'s products are available in the
United States and internationally through production agreements
with regional aseptic milk processors and are currently sold under
the brand names Slammers(R) and Bravo!(TM). Bravo!'s Slammers(R)
products are available nationwide in popular chains such as:
7-Eleven, A&P, Dutch Farms, Giant Food Stores, Jewel, Kings,
Pathmark, Safeway, Sam's Club, Shaw's, ShopRite, Speedway,
SuperTarget, Unified, Waldbaums and Walgreens. Many of Bravo!
Brands' Slammers(R) lines of shelf-stable, single-serve milk drinks
are co-branded through exclusive partnerships with Masterfoods, a
division of Mars Incorporated, General Mills and MD Enterprises
(Moon Pie(R)), providing superior name recognition packaged with
quality, great-tasting drinks. On November 1, 2005, Coca-Cola
Enterprises, Inc. began distribution of the Slammers(R) Masterfoods
line, as well as the Bravo!'s Slim Slammers(R) and Pro Slammers(TM)
products, under a Master Distribution Agreement with Bravo! For
more information, visit: http://www.bravobrands.com/ Forward
Looking Statements Safe Harbor under the Private Securities
Litigation Reform Act of 1995: The statements which are not
historical facts contained in this press release are
forward-looking statements that involve certain risks and
uncertainties including but not limited to risks associated with
the uncertainty of future financial results, regulatory approval
processes, the impact of competitive products or pricing,
technological changes, the effect of economic conditions and other
uncertainties as may be detailed in the Company's filings with the
Securities and Exchange Commission. Investor Relations Contact
Integrated Corporate Relations Kathleen Heaney (203) 803-3585
Company Contact Jeffrey J. Kaplan, Chief Financial Officer (561)
625-1411 DATASOURCE: Bravo! Brands Inc. CONTACT: Investor
Relations, Kathleen Heaney of Integrated Corporate Relations,
+1-203-803-3585; or Company Contact, Jeffrey J. Kaplan, Chief
Financial Officer of Bravo! Brands Inc., +1-561-625-1411 Web site:
http://www.bravobrands.com/
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