Reed's Inc. said its normalized net income for the second quarter came to a loss of 4 cents per share, compared with the S&P Capital IQ consensus estimate of a loss of 5 cents per share.
The per-share loss widened 8.6% year over year from 3 cents.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $476,880, compared with a loss of $428,750 in the year-earlier period.
The normalized profit margin dropped to negative 4.3% from negative 3.5% in the year-earlier period.
Total revenue decreased 9.7% year over year to $11.0 million from $12.2 million, and total operating expenses declined 10.5% year over year to $11.3 million from $12.7 million.
Reported net income totaled a loss of $768,000, or a loss of 6 cents per share, compared to a loss of $691,000, or a loss of 5 cents per share, in the year-earlier period.