IRVINE, CA (August 9, 2017) (Marketwired) — True Drinks Holdings, Inc. (OTC PINK: TRUU), makers of AquaBall® Naturally Flavored Water, the healthiest children’s beverage on the market with no sugar, preservatives, calories, or artificial flavors, today announced its financial results for the second quarter of 2017.
Revenue for the second quarter totaled approximately $1.95 million, representing a 27% increase compared to the Company’s first-quarter sales. The Company had record first-half revenues for the six months ended June 30, 2017 of nearly $3.5 million, an increase of 225% over the six months ended June 30, 2016. Gross profit for the quarter and first half ended June 30, 2017 was $709,700 and $1,265,840, respectively, compared to a gross loss of $39,734 and $189,847, respectively for the quarter and first half ended June 30, 2016.
Dan Kerker, Chief Financial Officer of True Drinks, commented, “The strong growth in the second quarter of 2017 was primarily the result of continued gains by AquaBall in the children’s beverage category, driven by enhanced brand awareness among consumers looking to purchase a healthy alternative to sugary beverages. We look for this to continue in the second half of the year. We are pleased that we have maintained gross margins in the high thirties over the first two quarters. As previously announced, we introduced the lower cost six-pack last month and are working on further packaging improvements. We will soon begin testing a multi-channel marketing campaign promoting AquaBall in one of our key markets.”
James Greco, Chief Executive Officer of True Drinks added, “The second quarter adds to the solid start we saw last quarter which has resulted in record first half revenue and greatly improved operating margins. As of the end of June, AquaBall was available in over 15,000 stores around the country. Velocity, as reported by Nielsen, continues to grow by double digits with the latest four-week period up nearly 23% over the previous four weeks. The growing distribution coupled with increased velocity means our sales volume continues to grow by double-digit percentages far outstripping that of other children’s beverages.” Greco continued, “AquaBall continues to benefit from the trend towards health and wellness. As awareness of the issues caused by excess sugar consumption in children grows, so do our sales. Our goal is to be a solution to the epidemics of childhood obesity and juvenile diabetes.”
About True Drinks Holdings, Inc.
True Drinks Holdings, Inc., the holding company for True Drinks, Inc., is a healthy beverage provider which produces AquaBall® Naturally Flavored Water. AquaBall is a healthy alternative to the other products in the children’s beverage market. True Drinks has licensing agreements with Disney and Marvel for use of their characters on bottles of AquaBall®. AquaBall® is a naturally flavored, vitamin-enhanced, zero-calorie, preservative-free, dye-free, sugar-free alternative to juice and soda. AquaBall® is currently available in four flavors: fruit punch, grape, strawberry lemonade and berry. Their target consumers: kids, young adults, and their guardians, are attracted to the product by the entertainment and media characters on the bottle and continue to consume the beverage because of its healthy benefits and great taste. For more information, please visit www.aquaballdrink.com and www.truedrinks.com. Investor information can be found at www.truedrinks.com/investor-relations/. Proudly made in the USA.