KonaRed Corporation Reports Strong Q1 2014 Product Sales Growth With Q1 Sales Up 106% From Q1 2013
10 Avril 2014 - 2:50PM
Marketwired
KonaRed Corporation Reports Strong Q1 2014 Product Sales Growth
With Q1 Sales Up 106% From Q1 2013
KOLOA, HI--(Marketwired - Apr 10, 2014) - KonaRed Corporation
(OTCBB: KRED) (www.KonaRed.com), today announced strong growth in
sales of its exclusive Hawaiian CoffeeBerry® products during the
first quarter of 2014.
Q1 2014 (January 1 -
March 31) vs. Q1 2013: Product sales for KonaRed's first
quarter of 2014 were robust and increased by 106% to $413,513
versus $200,818 for the same three month period ended March 31,
2013.
Q1 2014 vs. Q4 2013
(Oct. 1-Dec. 31 2013): When compared to product sales of
$76,917 for the three months ended December 31, 2013, product sales
showed an increase of 438%. Additionally, KonaRed's first quarter
product sales for 2014 represented 46% of total product sales of
$889,932 for all of fiscal 2013.
Commenting on the Q1 results, KonaRed's CEO Mr. Shaun Roberts
said: "We're pleased with our sales numbers during the first
quarter of 2014. Our efforts to get our products in front of
consumers are working and the Q1 results indicate we're
successfully establishing our brand in well known retailers across
the United States and Canada. Successes in the last six months have
included acquiring Walmart and Speedee Mart as major clients and we
aim to capitalize on our sales momentum in the second quarter by
continuing to expand our distribution channels."
Mr. Roberts continued, "We also feel it's notable that first
quarter sales during 2014 are nearly half the sales we achieved for
all of fiscal 2013. Going forward, our goals are to continue sales
expansion and translate sales growth into profitability by further
tightening costs controls."
Comparatively, due primarily to additional costs associated with
our quick sales growth, cost of goods sold for Q1 2014 increased by
204% to $340,305 from $111,903 in Q1 2013; and our gross margin
decreased to 25%, or $104,912 for Q1 2014, versus 71%, or $142,167
for Q1 2013.
The Company's net loss for Q1 2014 is estimated to be
approximately $(995,000), or $(0.02) per share, versus $149,848, or
$nil per share for Q1 2013. When the net loss for Q1 2014 is
adjusted to exclude non-cash options grant expenses totalling
$601,434, the net loss for QI 2014 decreases to $(393,566), or
$(0.01) per share. A total of 750,000 options were granted to
a director as compensation for services during the first quarter
and these options vested immediately. The options have a 5 year
term and are exercisable at $0.81 per share.
About KonaRed Corporation KonaRed Corporation is in the business
of producing health and wellness nutritional products including
beverages and supplements, which bring the attributes of Hawaiian
Coffee fruit to an international consumer market. Our underlying
business was established on August 22, 2008 and our first sales
were achieved in February 2009. KonaRed became publicly traded
through a merger with an existing listed company on October 4, 2013
and trades on the OTCBB and OTCQB under the symbol: KRED. KonaRed
and its partner VDF FutureCeuticals, Inc. have developed
innovative, state of the art, proprietary processes that produce
antioxidant extracts and powders from Hawaiian Coffee Fruit which
are used to produce KonaRed's Antioxidant Juices, Organic Green
Teas, and On-the-Go Packs. KonaRed Corporation is headquartered in
Koloa, Hawaii, and its distribution is centered in San Clemente
California. KonaRed products are sold in select Whole Foods,
Safeway, Sprouts, Walmart, 7-Eleven, and many other retail outlets
throughout the US and Canada.
Forward Looking Statements
Certain information contained in this press release, including
any information as to our strategy, plans or future financial or
operating performance and other statements that express
management's expectations or estimates of future performance,
constitute "forward-looking statements" within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Action of 1934. All statements, other than
statements of historical fact, are forward-looking statements. The
words "believe," "expect," "will," "anticipate," "contemplate,"
"target," "plan," "continue," "budget," "may," "intend,"
"estimate," "project" and similar expressions identify
forward-looking statements. Forward-looking statements are subject
to risks and uncertainties that could cause actual results to
differ materially from those expressed in the forward-looking
statements, including, but not limited to, certain delays beyond
the company's control with respect to its plans or operations. Our
actual results may differ materially from the results anticipated
in these forward-looking statements due to a variety of factors,
including, without limitation those set forth as "Risk Factors" in
our filings with the SEC which can be found at www.sec.gov. There
may be other factors not mentioned above or included in the
Company's SEC filings that may cause actual results to differ
materially from those projected in any forward-looking statement.
The Company disclaims any intention or obligation to update or
revise any forward-looking statements whether as a result of new
information, future events or otherwise, except as required by
applicable law.
Contact: For Investor and Media Inquiries, please contact:
KonaRed Corporation Investor Relations E and E Communications Paul
Knopick Email: pknopick@eandecommunications.com Tel
940.262.3584
KonaRed (CE) (USOTC:KRED)
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