KonaRed Reports Third Quarter 2014 Financial Results

KOLOA, Hawaii, Nov. 4, 2014 /PRNewswire/ -- KonaRed Corporation (OTCQB: KRED), manufacturers of Antioxidant Juices and nutritional supplements from the unique and exclusive Hawaiian CoffeeBerry^®, coffee fruit from Kona, Hawaii, today announced financial results for the third quarter and nine months ended September 30, 2014.

Q3 2014 Financial Summary

• Net sales increased 95% to 341,264 for the third quarter ended September 30, 2014 as compared to $174,581 for the same period in 2013
• Product sales increased 97% to $332,867 for the third quarter ended September 30, 2014 as compared to the product sales of $169,262 for the same period in 2013
• Consumer product sales for the three month ended September 20, 2014 was $328,667, a 439% increase from $60,944 as compared to the same period in 2013
• Investment in advertising and marketing  increased to $252,404 for the third quarter ended September 30, 2014 as compared to $32,452 for the same period in 2013
• General and administrative costs were $562,494 for the three months ended September 30, 2014
• Net loss for the third quarter ended September 30, 2014 was $752,485, or $0.01 per share

Nine Months Ended September 30, 2014 Financial Summary

• Net sales increased 46% to 1.26 million for the nine months ended September 30, 2014 as compared to $0.87 million for the same period in 2013
• Product sales increased 39% to $1.18 million for the nine months ended September 30, 2014 as compared to $0.85 million for the same period in 2013
• Consumer Product Sales for the nine months of 2014 was $1.11 million, a 120% increase from $504,404 as compared to the same period in 2013
• Investment in advertising and marketing increased to $714,309 for the nine months ended September 30, 2014 as compared to $73,988 for the same period in 2013
• General and administrative costs were $2.47 million for the nine months ended September 30, 2014
• Net loss for the nine months ended September 30, 2014 was $2.95 million, or $0.04 per share
• Sales increases attributed to key initiatives that include Company's alliance with Splash Beverage Group and the expansion of its distribution network into national chain stores Walmart, Kroger, and Vitamin Shoppe
• KonaRed finished the quarter with a cash balance of $600,450

KonaRed's CEO Shaun Roberts stated, "We hit several milestones this quarter, both operationally and financially, that further expand our footprint in the functional wellness beverage market. We generated triple digit product sales growth for the 3^rd quarter and have been successful in adding new stores and retail partners through our distribution channels. We continue to work hard and diversify our revenue stream to generate value for our shareholders."

About KonaRed Corporation
KonaRed Corporation produces health and wellness nutritional products including beverages and supplements, which bring the attributes of Hawaiian Coffee fruit to an international consumer market. We established our business in August 2008 and achieved our first sales in February 2009. In October 2013 KonaRed went public and trades on the OTCQB under the symbol KRED. KonaRed, through a licensing agreement with VDF FutureCeuticals, Inc., utilizes innovative, state of the art, proprietary processes that produce antioxidant extracts and powders from Hawaiian Coffee Fruit, which are used to produce KonaRed's Antioxidant Juices, Organic Green Teas, and On-the-Go Packs. KonaRed Corporation is headquartered in Koloa, Hawaii, and its distribution center is in San Clemente, California. KonaRed products are sold in select Kroger, Vitamin Shoppe, Whole Foods, Safeway, Walmart, 7-Eleven, and many other retail outlets throughout the US and Canada. More information about KonaRed and its products can be found at www.konared.com.

Forward Looking Statements
Certain information contained in this press release, including any information as to our strategy, plans or future financial or operating performance and other statements that express management's expectations or estimates of future performance, constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, are forward-looking statements. The words "believe," "expect," "will," "anticipate," "contemplate," "target," "plan," "continue," "budget," "may," "intend," "estimate," "project" and similar expressions identify forward-looking statements. Forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward-looking statements, including, but not limited to, certain delays beyond the company's control with respect to its plans or operations. Our actual results may differ materially from the results anticipated in these forward-looking statements due to a variety of factors, including, without limitation those set forth as "Risk Factors" in our filings with the SEC which can be found at www.sec.gov. There may be other factors not mentioned above or included in the Company's SEC filings that may cause actual results to differ materially from those projected in any forward-looking statement. The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law.

Contact:

Investor Relations:
Robert Haag
IRTH Communications
[email protected]
866-976-4784

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SOURCE KonaRed Corporation

Related Links

http://www.konared.com