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May 16, 2006

US: Bravo! Q1 revenues increase by 297%

Bravo! Foods yesterday (15 May) revealed that revenues for the first quarter of 2006 rose to US$3.6m, a 297% increase from the first quarter of 2005.

Bravo! Foods yesterday (15 May) revealed that revenues for the first quarter of 2006 rose to US$3.6m, a 297% increase from the first quarter of 2005.

The manufacturer of fortified flavoured milks reported a net loss applicable to common shareholders of $4m, or $0.02 per share.

The company, CEO Roy Warren commented, had implemented a ‘soft launch’ approach with distributor Coca-Cola due to capacity limitations.  This strategy will change in coming months, Warren predicted.

“With our capacity tripling during the current quarter and set to reach 7.5m units per month in July, an aggressive ‘hard launch’ set with Coca-Cola Enterprises of our products, the introduction of our eight ounce vendible bottle for the CCE school program and the large store channel roll out at CCE, we are confident of being able to support the anticipated demand for our products. We anticipate a rapid sales expansion now that our capacity has increased according to the original schedule,” he said.

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