Long Island Iced Tea Corp (NASDAQ: LTEA)
LTEA, today announced preliminary and unaudited net sales results for the period ending December 31, 2016, and twelve-month period ending on that same date. Trade Ideas provided a real time alert to the release.
LTEA Sales Growth
LTEA has achieved strong growth, seeing an appreciable rise in both its Ready-To-Drink tea beverages and ALO Juice brand beverages.
Estimated net sales highlights growth in all segments, with sales gaining significant strength for the quarter ending December 31, 2016, by generating $1,587,000 dollars - an increase of 216%.
Total estimated sales for the year ending December 2016 are projected to total $5 million dollars, representing an increase of 163%.
Management stated that they are pleased to have reached several significant milestones for the quarter, highlighting the strong growth across its product lines. The introduction of LTEA’s 20 oz. container sales fueled some of the momentum, as did additional distribution agreements that were procured during the latter part of 2016. Increased distribution agreements for its Alo Juice brands also contributed to the increase.
The latest revamped product - the 18oz. flagship Long Island Iced Tea brand packaging - is also gaining traction in multiple retail outlets across the northeastern region of the United States.
LTEA has continued its international expansion into new geographic areas during the fourth quarter, announcing partnerships in Canada, Honduras, and Bermuda.
LTEA stock has been range-bound of late, with shares changing hand between $4.25 and $5.00 per share. LTEA has continued to deliver regional growth and placement and is targeting additional retail and grocery chain placements during the next several quarters.
Headquartered in Long Island, New York, LTEA is a fast-emerging leader in the ready-to-drink segment of the beverage industry. LTEA produces premium iced tea bottled beverages that are produced with quality ingredients and offered at an affordable price.
LTEA has a strong management team, with the executive team having over 100 years of combined experience in securing efficiencies in product manufacturing, placement, strategic initiatives, and consumer trend and segment branding.
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