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Reed's Q3 loss narrows YOY

Reed's Inc. said its third-quarter normalized net income amounted to a loss of $136,880, compared with a loss of $1.5 million in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

The normalized profit margin increased to negative 1.1% from negative 14.4% in the year-earlier period.

Total revenue rose 15.1% on an annual basis to $12.3 million from $10.7 million, and total operating expenses fell 5.6% year over year to $12.1 million from $12.9 million.

Reported net income totaled a loss of $219,000, or a loss of 2 cents per share, compared to a loss of $2.5 million, or a loss of 19 cents per share, in the year-earlier period.