- Revenue up 295% Year Over Year -
KOLOA, Hawaii, May 18, 2017 /PRNewswire/ -- KonaRed Corporation (OTCQB:KRED), manufacturers of award winning premium Hawaiian Cold Brew Coffees, Whole Bean Coffee products and the Pioneer of the USA Coffee Fruit category, today reported rapid sales growth during quarter one 2017.
Fueled by strategic growth in sales of Ready to Drink Cold Brew Coffees during Quarter one 2017, KonaRed's sales revenue surpassed $590,000, which compares to $149,000 for the same period in 2016, representing a year over year revenue increase of 295%. The Company also reported that April sales reached $323,000.
KonaRed's first quarter success has been lead by dynamic growth in its distribution network as it continues to gain shelf presence in targeted regions. Additionally, gross margin in Quarter one 2017 improved to 33% versus 21% for Quarter one 2016. This 57% increase was produced by the relatively higher margin earned on Cold Brew Coffee sales.
KonaRed's President and COO Kyle Redfield commented, "We have made great strides with the distribution and popularity of our award winning RTD cold brew coffee beverages. We are starting to see impressive IRI numbers (shelf turns) as our larger retailers embrace Cold Brew in 2017 spring and summer seasons. This includes the likes of Publix, Kroger and Albertsons / Safeway banner stores. We have also expanded into the C-store and club channels with new offerings and programs. Based on growth in same store sales, expanding distribution and continued new product innovation, we are building momentum and foresee a very positive year."
The Company added that it made several new strategic hires to strengthen their sales team and operations. Most notably the Company hired Leo Zweig, former Roll Global (Now the Wonderful Company) Executive, in a newly created position of Vice President of Operations.
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 award winning Ready to Drink ('RTD') Cold Brew Coffee varieties, plus its well-established RTD Premium Antioxidant Juice, 100% Hawaiian Coffee Fruit Powders and three varieties of Kona Coffee Beans. KonaRed products are sold throughout the U.S. and can be found in select Publix, Kroger, Safeway, Vitamin Shoppe, Costco, 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
Tel: 714 978-4425