The Pulse Beverage Corporation Reports Earnings Results for the First Quarter of 2016; Provides Sales Guidance for the Year 2016
The Pulse Beverage Corporation reported earnings results for the first quarter of 2016. For the quarter, the company's overall net sales, after promotional allowances and slotting fees, increased by $38,000 to $743,000 against negative net sales of $705,000 a year ago, a 5.4% growth. Overall its net sales were less than planned as the company was delayed in switching over to its new coconut water supplier, and as a result net sales of coconut water did not increase as quickly as planned during first quarter of 2016. Net loss increased by $50,000 to $557,000, or $0.01 per share, compared with a net loss for first quarter of $507,000, or $0.01 per share. This increase was due to loan interest/fees totaling $120,000 and it is nil in first quarter of 2015.
Pulse expects overall net sales in 2016 to increase as it expands its markets internationally into Mexico, China and Canada.