Reed's Inc. said its first-quarter normalized net income amounted to a loss of 1 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 2 cents per share.
The per-share loss widened 22.1% year over year from 1 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $169,380, compared with a loss of $137,500 in the year-earlier period.
The normalized profit margin fell to negative 1.6% from negative 1.5% in the year-earlier period.
Total revenue grew 19.2% year over year to $10.7 million from $8.9 million, and total operating expenses increased 19.6% on an annual basis to $10.7 million from $9.0 million.
Reported net income totaled a loss of $271,000, or a loss of 2 cents per share, compared to a loss of $220,000, or a loss of 2 cents per share, in the prior-year period.
