KOLOA, Hawaii, Oct. 18, 2016 /PRNewswire/ -- KonaRed Corporation (OTCQB: KRED), a pioneer of the coffee fruit category and manufacturers of premium Hawaiian Cold Brew and Whole Bean Coffee products, today announced strong growth in third quarter revenue.
During the three month period ended September 30, 2016, KonaRed's comparative revenue grew by 132% from $174,000 in Q3 2015 to $404,000 in Q3 2016. Revenue for the comparative nine month period grew by 34% from $587,000 to $789,000. KonaRed's new line of Cold Brew Coffees accounted for 76% of sales for Q3 2016's three month period and 54% for the nine month period. During the year to date respective three month periods, Cold Brew sales increased from $22,000 in Q1 to $99,000 in Q2, and to $307,000 in Q3, representing quarterly growth for Q1 to Q2 of 350% and 210% for Q2 to Q3.
KonaRed's President & COO Kyle Redfield commented, "We've been working very hard to acquire new customers and build a distribution network to capitalize on the line of Cold Brew Coffees we introduced in February 2016. Quarter three results prove we're now getting traction. Particularly interesting is a sizable component of Cold Brew Coffee sales growth is from repeat customers and re-orders are accelerating. This shows us our established customers and regions still have a lot of room for growth, as do new regions and customers we will be expanding into in the near future. Cold Brew is now KonaRed's major marketing focus and consumer demand drove expansion of our Cold Brew Coffee line from 3 to 5 products in August."
Cold brewed coffee is a booming new market sector and KonaRed has emerged early as a leader in this new category. Cold brewed coffee is expected to go down as one of the top food and beverage trends in 2016, and into 2017. KonaRed offers ready-to-drink Original, Hawaiian Vanilla, Espresso, Maui Mocha and Kauai Caramel Cold Brew Coffee flavors in 12oz glass bottles with eye-catching labels. These products have won multiple industry and consumer awards and now appear on major retail shelves throughout the Western US and New York.
President & COO Redfield continued, "We believe our use of Kona Coffee as a key ingredient is a major draw for consumers because they appreciate the richer flavor of our premium product. We are now forecasting a year over year doubling of KonaRed's total sales based on the success we're now experiencing as a company. We are at the front end of a major trend with Cold Brew Coffee and foresee we will benefit significantly from gaining our early foothold."
About KonaRed Corporation
KonaRed® Corporation is the pioneer of the USA Grown, Hawaiian Coffee Fruit. The company oversees a vertically integrated supply chain, which starts with the highest quality Coffee and Coffee Fruit from Kona, Hawaii. The Company produces five Ready to Drink ('RTD') Cold Brew Coffee varieties, plus its well-established RTD Premium Antioxidant Juices, 100% Hawaiian Coffee Fruit Powders and three varieties of Kona Coffee Beans. The Company also has an industrial ingredients division. KonaRed products are sold throughout the U.S. and can be found in select Kroger, Safeway, Vitamin Shoppe, Target, Whole Foods, 7-Eleven, Vons, Albertsons, Pavilions, Walgreens and many other retail outlets. More information about KonaRed and its products can be found at www.konared.com.
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 Act 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.
Redwood Investment Group
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SOURCE KonaRed Corporation
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