Long Island Iced Tea Corp . (NASDAQ: LTEA), a growth-oriented company focused on the ready-to-drink ("RTD") tea segment in the beverage industry, today reported preliminary unaudited net sales results for the three and nine month periods ended September 30, 2016. These preliminary results are subject to completion of the Company's quarter-end financial reporting processes and reviews and other financial and accounting procedures. Highlights include estimated net sales are expected to increase approximately 185% to approximately $1,301,000 for the three months ended September 30, 2016, as compared to $456,787 for the comparable prior-year period.
Read the full LTEA Press Release at: http://financialnewsmedia.com/profiles/ltea.html
Philip Thomas, CEO of the Company said, "The third quarter of 2016 was another fantastic quarter for the Company. Continued strong growth of our brand and the expansion of our distribution footprint into new regional markets resulted in substantial revenue growth. New partnerships announced in the third quarter included Christmas Tree Shops, Menards, Ingles and Restaurant Depot. In addition, we formed new partnerships with strategic brokers and entered new geographies including Canada with Unique Foods and Puerto Rico with Tres Monjitas."
Long Island Iced Tea Corp. also recently announced that it has entered into a partnership with Food Lion LLC ("Food Lion") to make Long Island Iced Tea® available in its locations. Food Lion, based in Salisbury, N.C., is one of the largest supermarket chains in the Southeast United States with over 1,000 locations in 10 Southeastern and Mid-Atlantic states employing more than 65,000 associates. This is the largest partnership in the Company's five-year history.
For a complete insight into LTEA operations go to this free, independent report: http://investmentresearchreport.com/mnga-report/?=fn Source: ALG Financial
In other Beverage Stocks developments and happenings in the market:
Pepsico, Inc. (NYSE: PEP) closed up slightly on Friday at $106.83 on over 4.7 Million shares traded by the market close for the week. Pepsico's North America Beverages segment offers beverage concentrates, fountain syrups, and finished goods under the Pepsi, Gatorade, Mountain Dew, Diet Pepsi, Aquafina, Diet Mountain Dew, Tropicana Pure Premium, Sierra Mist, and Mug brands; and ready-to-drink tea and coffee, and juices.
Monster Beverage Corp. (NASDAQ: MNST) announced Friday a 3-for-1 split of its common stock, to be effected in the form of a stock dividend. The energy drink company said the new shares will be distributed on Nov. 9 to shareholders of record on Oct. 26. The stock should begin trading at a split-adjusted basis on Nov. 10. The stock closed Thursday at $145.98, down from its Aug. 5, 2016 record close of $162.52. The split will triple the number of shares outstanding to about 571 million shares, and will in effect cut the stock price to a third of the Nov. 9 closing price.
The Coca-Cola Company (NYSE: KO) announced last week Sandy Douglas, Executive Vice President and President Coca-Cola North America, will present at 10:40 a.m. EST, Tuesday, Nov. 15, 2016 during the Morgan Stanley Global Consumer and Retail Conference being held in New York. The company invites investors to listen to the live audiocast of the presentation at its website, coca-colacompany.com/investors. A replay in downloadable MP3 format will also be available within 24 hours after the audiocast on the company's website.
Dr Pepper Snapple Group, Inc., (NYSE: DPS) will issue its third quarter 2016 financial results on Thursday, October 27, before the market opens. Larry Young, DPS president and CEO, and Marty Ellen, chief financial officer, will discuss the results during an earnings conference call for financial analysts and investors at 9 a.m. CDT that day. The conference call and slide presentation will be accessible live through the DPS website at http://www.drpeppersnapple.com and will be archived for replay for a period of 14 days.
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