The company also reported revenues of approximately $4,028,000 for the six months ended 30 June 2010, as compared to approximately $2,317,000 for the six months ended 30 June 2009. For the quarter ended 30 June 2010, the company sold 313,000 cases of Skinny Water as compared to 141,000 cases for the same period in 2009, an increase of approximately 122% (one case = 12x 16oz bottles). This represents the most case sales in a quarter in the history of the company. For the six months ended 30 June 2010, the company has shipped over 500,000 cases of Skinny Water.
As of 30 June 2010, Skinny Water is being sold in approximately 5,700 chain locations, including Target Stores and a number of grocery, drug, club and convenience accounts. This compares to approximately 2,700 locations at the same time last year.
The company has recently added new chain accounts, including Duane Reade, Save Mart and Lucky Markets, BJ’s Warehouse, Turkey Hill and Wilson Farms, demonstrating its strategy of targeting quality retail chains. In addition, the company has received an authorisation from Safeway Stores to begin selling Skinny Water in a number of markets (California, Washington, Oregon, Alaska, Hawaii, Illinois, Colorado, Pennsylvania, Maryland and Virginia) starting in September 2010. With these new authorisations and the company’s current relationship with Target, Skinny Water will be available in all 50 states.
In addition, the company has continued to enhance its distributor network. In June, the company announced it engaged Polar Beverages to be its distributor for the New England market, replacing a number of smaller distribution accounts.
For the quarter ended 30 June 2010, the company incurred a net loss from operations of approximately $2,123,000, inclusive of a non-cash expense of approximately $631,000 as compared to a net loss of approximately $1,244,000 inclusive of non-cash expense of approximately $356,000 for the three months ended 30 June 2009.
For the six months ended 30 June 2010, the company reported a net loss from operations of approximately $3,126,000 as compared to a net loss of approximately $2,089,000 for the six months ended 30 June 2009.
Source: Skinny Nutritional
© FoodBev Media Ltd 2024