FinancialNewsMedia.com News Alert: 2016 Third Quarter Net Sales Expected to Increase 185% Year-Over-Year Driven by New Partnerships – HICKSVILLE, NY – (http://www.financialnewsmedia.com News Alert) – Long Island Iced Tea Corp. (NASDAQ: LTEA) (the “Company”), a growth-oriented company focused on the ready-to-drink (“RTD”) tea segment in the beverage industry, today reported preliminary unaudited net sales results for the three and nine month periods ended September 30, 2016. These preliminary results are subject to completion of the Company’s quarter-end financial reporting processes and reviews and other financial and accounting procedures.
Philip Thomas, CEO of the Company said, “The third quarter of 2016 was another fantastic quarter for the Company. Continued strong growth of our brand and the expansion of our distribution footprint into new regional markets resulted in substantial revenue growth. New partnerships announced in the third quarter included Christmas Tree Shops, Menards, Ingles and Restaurant Depot. In addition, we formed new partnerships with strategic brokers and entered new geographies including Canada with Unique Foods and Puerto Rico with Tres Monjitas.” (Read this and more details about LTEA at http://financialnewsmedia.com/profiles/ltea.html)
Note: Net sales figures listed below are shown after being reduced by all promotional rebates issued to distributors and customers.
3 Months Ended September 30, 9 Months Ended September 30,
(Dollars in Thousands) 2015 2016 2015 2016
Total Net Sales $457 $1,301 $1,397 $3,413
YoY Growth 185% 144%
Estimated net sales highlights for the three and nine months ended September 30, 2016:
– Estimated net sales growth is primarily due to growth in our 20oz container sales, increased distribution of our gallon containers and introduction of aloe juice
– Estimated net sales is expected to increase approximately 185% to approximately $1,301,000 for the three months ended September 30, 2016, as compared to $456,787 for the comparable prior-year period
– Estimated net sales is expected to increase approximately 144% to approximately $3,412,836 for the nine months ended September 30, 2016, as compared…