NORWALK, Conn., Jan. 13, 2021 (GLOBE NEWSWIRE) -- Reed’s Inc. (Nasdaq: REED), owner of the nation’s leading portfolio of handcrafted, all-natural beverages, today announced preliminary unaudited revenue results for the fiscal fourth quarter and full year 2020 ended December 31, 2020. 

Reed anticipates nets sales for the fourth quarter of 2020 to be approximately $10.3 million, representing growth of 44% year-over-year and 22% sequentially over the previous quarter. For the full year of 2020, Reed’s anticipates net sales to be approximately $41.3 million, a increase of 22% compared to $33.8 million for the full year of 2019. These figures are preliminary and unaudited, and actual revenues may differ.

“We are pleased to report continued net sales growth representing positive momentum across all channels,” stated Norman E. Snyder, Chief Executive Officer of Reed’s, Inc. “Despite the challenges we have navigated in the face of the pandemic this year, these results demonstrate the continued support for the Reed’s brand and the future opportunities that lie ahead.”

About Reed’s, Inc.

Established in 1989, Reed's® is America's number 1 name in Ginger and America’s best-selling Ginger Beer brand and innovator for decades. Virgil's™ is America's best-selling independent, full line of natural craft sodas. The Reed's® portfolio is sold in over 40,000 retail doors nationwide. Reed's core product line of Original, Extra and Strongest Craft Ginger Beers, along with the Certified Ketogenic Zero Sugar Extra Ginger Beer are unique due to the proprietary process of using fresh ginger root combined with a Jamaican inspired recipe of natural spices and fruit juices. The company uses this same handcrafted approach in its award-winning Virgil's™ line of great tasting, bold flavored craft sodas and Certified Ketogenic Zero Sugar Varieties.

For more information about Reed’s, please visit the Company’s website at: http://www.drinkreeds.com