Purple Beverage Company Reports Record Fiscal Third Quarter 2008 Results
14 Août 2008 - 11:56PM
Business Wire
Purple Beverage Company, Inc. (OTCBB: PPBV) today announced record
sales for its signature beverage, Purple�, for the Company�s fiscal
third quarter ended June 30, 2008. During the quarter, Purple
Beverage Company shipped $941,500 of Purple, representing over a
five-fold increase from the $179,500 in Purple shipments reported
during the Company�s second quarter. Purple Beverage Company
recognized revenue of $365,500 during the quarter, over a 100%
increase over second quarter recognized revenue. Additionally, in
the third quarter of 2008, the Company increased deferred revenue
by $576,000, which it expects to recognize as revenue in the fiscal
fourth quarter of 2008. The Company reported a net loss of $9.5
million, or ($0.16) per share for the third quarter of 2008. �Our
tremendous third quarter sequential growth is a testament to our
leading product offering and the strong pull through from consumers
and reorders from our distributors,� said Ted Farnsworth, CEO and
Founder of Purple Beverage Company. �The progress we have made in
Purple Beverage�s short history has exceeded our expectations.
Purple is already available in many well known national and
regional specialty retail, grocery, and drug stores but we are just
beginning to realize our growth potential.� �We reduced our net
loss per share from ($0.22) in the second quarter to ($0.16) in the
third quarter,� commented Michael Wallace, Chief Financial Officer.
�During the first nine months of this fiscal year, we have made
significant investments in our infrastructure and believe we have
the majority of the infrastructure in place to help us achieve
continued strong growth and improved operating results as we
continue to leverage our costs across a larger revenue base going
forward.� Additional information related to the Company�s financial
performance can be found in the Company�s form 10-QSB, filed today
with the SEC. Introduced in late 2007, Purple is a unique and tasty
blend of seven of the world�s most powerful antioxidant-rich
juices, including the exotic a�ai berry, black cherry, pomegranate,
black currant, purple plum, cranberry and blueberry. The health
benefits of these fruits are packed into an all-natural, no-sugar
added rejuvenating beverage that is perfect as an on-the-go drink
or as part of a healthy fruit smoothie. Since debuting in late
2007, Purple has been praised by such high-profile publications as
Health Magazine and Family Circle and has appeared on ABC-TV�s �The
View.� In addition, nightclubs and lounges are finding Purple to be
one of the trendier antioxidant cocktail choices, as adding alcohol
to antioxidant-rich berries increases the power of the
antioxidants, a fact confirmed in studies by researchers from the
U.S. Department of Agriculture and by a study at Kasetsart
University in Thailand. Purple can be found in select GNC stores
across the country and online at www.gnc.com, as well as in various
restaurants, bars, nightclubs, delis, drug stores, health food
stores, supermarkets and convenience stores. For more information,
visit www.drinkpurple.com. Cautionary Statement Regarding
Forward-Looking Statements Information provided by Purple Beverage
Company, Inc., such as online or printed documents, publications or
information available via Purple Beverage Company�s website,
contains forward-looking statements that involve risks,
uncertainties, assumptions and other factors, which, if they do not
materialize or prove correct, could cause Purple Beverage Company�s
results to differ materially from historical results, or those
expressed or implied by such forward-looking statements. All
statements, other than statements of historical fact, are
statements that could be deemed forward-looking statements,
including statements containing the words "planned," "expects,"
"believes," "strategy," "opportunity," "anticipates," and similar
words. These statements may include, among others, plans,
strategies and objectives of management for future operations; any
statements regarding proposed new products, services or
developments; any statements regarding future economic conditions
or performance; statements of belief; and any statements of
assumptions underlying any of the foregoing.
Purple Beverage (CE) (USOTC:PPBV)
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