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Bravo! Foods International Corp. Reports Revenue Increase of 297% PR Newswire - May 15, 2006 16:05
NORTH PALM BEACH, Fla., May 15, 2006 /PRNewswire-FirstCall via COMTEX/ -- Bravo! Foods International Corp. (OTC Bulletin Board: BRVO), a brand development and marketing company that manufactures, promotes and distributes vitamin- fortified, flavored milk drinks and other beverages, announced today that total revenue for first quarter 2006 was $3.6 million, an increase of 297% over first quarter 2005 revenue of $898 thousand. Bravo! reported a net loss applicable to common shareholders of $4.0 million compared to a net loss of $1.3 million in the same period of prior year. The net loss on a per share basis was $0.02 in first quarter 2006 compared to a $0.02 per share loss in the same quarter in the prior year on a 209% increase in weighted average shares outstanding.
Roy Warren, Chief Executive Officer, commented, "We implemented a 'soft launch' strategy with Coca-Cola Enterprises in the 1st quarter to maximize customer service levels due to our capacity limitations. This strategy ensured we would not experience out of stock conditions and we built inventory to buffer this eventuality. With our capacity tripling during the current quarter and set to reach 7.5 million units per month in July, an aggressive 'hard launch' set with Coca-Cola Enterprises ("CCE") of our products, the introduction of our 8 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."
Conference Call
Bravo! will host a conference call on May 15, 2006 at 4:30 p.m. Eastern Time to discuss these results. Roy G. Warren, the company's Chief Executive Officer, and Jeffrey J. Kaplan, the company's Chief Financial Officer, will be hosting the call. The call in number for today's call is 877-407-9205 (International: 201-689-8054); No Passcode required. The call will be webcast and can be accessed from the company's website at http://www.bravobrands.com with the webcast link available under the investor section. If you are unable to participate on the live call, a replay will be available until May 16, 2006 at 11:59 p.m. Eastern Time and can be accessed by dialing 877-660-6853 (International: 201-612-7415); enter account number 286; conference identification number 202878. The webcast will be archived on the company's website.
About the Company
Bravo! Foods International Corp. develops, brands, markets, distributes and sells nutritious, flavored milk products throughout the 50 United States, Great Britain and various Middle Eastern countries. Bravo!'s products are available in the United States and internationally through production agreements with regional aseptic milk processors and are currently sold under the brand names Slammers(R) and Bravo!(TM). Bravo!'s Slammers(R) products are available nationwide in popular chains such as: 7-Eleven, A&P, Dutch Farms, Giant Food Stores, Jewel, Kings, Pathmark, Safeway, Sam's Club, Shaw's, ShopRite, Speedway, SuperTarget, Unified, Waldbaums and Walgreens.
Many of Bravo! Foods' Slammers(R) lines of shelf-stable, single-serve milk drinks are co-branded through exclusive partnerships with Masterfoods, a division of Mars Incorporated, and MD Enterprises (Moon Pie(R)), providing superior name recognition packaged with quality, great-tasting drinks.
On November 1, 2005, Coca-Cola Enterprises, Inc. began distribution of the Slammers(R) Masterfoods line, as well as the Bravo!'s Slim Slammers(R) and Pro Slammers(TM) products, under a Master Distribution Agreement with Bravo!
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Hey gangsta, you must be owning this for as long as I have. This hasn't seen a dime, or below, for a long time. Good one, though. On the downside, hope they get spending habits under control.
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titan, is that a good thing or a bad thing? cuz, overall, this company should be screamin' but it doesn't even whistle.
I forget the basic dd, think it was Chinese names and/or company changed symbol (once, twice?) to BRVO last year. Supply/demand problems all last year, strange deal with coca-cola, total lack of interest after last year's run-up thanks to company PR saying don't expect great things until 2006. Well, here we are, middle of 2006...
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