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Celsius Holdings reports 82.1% revenue increase
Florida-based Celsius Holdings Inc has reported revenue of $971,000 for the three months ended 31 March 2009 vs $533,000 for the same period in the previous year, an increase of 82.1%. The company recorded a net loss of $1.2m, the same as for the same period last year, or $0.01 per basic and diluted share.
Stephen C Haley, chairman and CEO, said: “We continue to see improved sales from most parts of the country, especially in our focus areas. We added several key retailers and distributors this quarter and the reorders from established customers continue to increase. Gross margins remain in the 44% range.
“We increased our marketing investment to build the brand with most of the increase targeted into areas where we have the widest distribution. While increasing the marketing investment, we reduced our G&A expenses year over year. We will continue our efforts to keep overheads low in order to put available capital into marketing.”
Celsius Holdings Inc markets Celsius, the original, science-backed, calorie-burning drink through its wholly owned operating subsidiary, Celsius Inc, which is dedicated to providing a healthier, daily refreshment through science and innovation.
Celsius was the winner in the ‘Best new functional category’ in the 2007 Beverage Innovation Awards and a finalist in the ‘Best new health initiative’ category.
Source: Celsius Holdings
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