Bravo! Foods sees record results for second quarter
August 15, 2005
by FoodBusinessNews.net Staff
NORTH PALM BEACH, FLA. — For the second quarter ended June 30, Bravo! Foods International Corp.’s revenue grew 70%, mainly fueled by the successful sales penetration of its Slammers flavored milk products.
Total revenue for the quarter was $2,448,628, up from $1,441,356 in the same quarter last year.
On gross margin of 31.4%, Bravo! reported a net loss of $1,421,928, compared with a loss of $980,710 in the same period last year.
"The second quarter of 2005 saw a number of important advancements for Bravo!, having grown sales considerably over the period and fully introduced the co-branded Milky Way, 3 Musketeers and Starburst Slammers to convenience store and grocery retailers nationwide," said Roy Warren, chief executive officer of Bravo! Foods. "We also made a number of important in-roads in other key markets, including school lunch programs, where Slammers have been met with growing excitement.
"While costs of development and selling expenses are traditionally high during new product launches for any company, we have experienced a dramatic increase in sales during this quarter and expect continued growth in sales throughout the second half of 2005, as we move forward with commitments for enhanced distribution capabilities and realize benefits from comprehensive sales and marketing campaigns across the country."