Note: EPS may not be comparable

Reed's (NYSE: REED) reported Q4 EPS of ($0.70), versus ($0.12) reported last year. Revenue for the quarter came in at $9.67 million versus the consensus estimate of $9.42 million.

Financial Highlights for the Fourth Quarter of 2017

• Net Sales were $9.7 million, a 5.7% increase over the prior year, reversing sales declines in the first three quarters of 2017; core brand gross sales increased 6.0% for the quarter;
• Gross margin was 21.3%, a 380 basis point improvement compared to the prior year and up 410 basis points from the average in the first nine months of 2017;
• Operating loss of $6.1 million included a $3.9 million non-cash impairment associated with the planned sale of the beverage manufacturing facility. The fourth quarter operating loss compared to a $1.7 million operating loss in the prior year period;
• Net loss of $10.9 million or $0.70 per share included the $3.9 million non-cash impairment and a $3.6 million non-cash charge for extinguishment of debt, associated with a change in terms of the Company’s convertible note. The fourth quarter net loss compared to a net loss of $2.4 million or $0.17 per share in the fourth quarter of 2016.
• Modified EBITDA was a loss of $1.2 million compared to a loss of $1.0 million in the prior year.

For earnings history and earnings-related data on Reed's (REED) click here.