Clearly Canadian Announces Second Quarter 2008 Financial Results, Conference Call and Web-Cast.TORONTO -- CLEARLY CANADIAN This article or section needs sources or references that appear in reliable, third-party publications. Alone, primary sources and sources affiliated with the subject of this article are not sufficient for an accurate encyclopedia article. BRANDS (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CCBEF CCBEF Clearly Canadian Beverage Corporation (Canada) ) (the "Company") today announced revenue results for the second quarter 2008. Total revenues for the three months ended June 30, 2008 were down 15% year-over-year to $2.53 million compared to $2.99 million for the same period in 2007. Total revenues for the six months ended June 30, 2008 were up 9.7% year-over-year to $4.94 million compared to $4.46 million for the same period in 2007. The six month year-over-year revenue growth is attributable to growth in the Company's healthy snack divisions and organic baby food divisions while the 2nd quarter decline in revenues is due to the Company's active redevelopment of its beverage division from reliance on selling its well known brand of Clearly Canadian sparkling flavored waters in single serve glass format to selling it in various PET packages using strategically located beverage production partners, such as the Cott Corporation. The company also reported cash on hand of $2,664,000. Bobby Genovese, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Clearly Canadian Brands, stated, "We are very pleased to announce that we continue to grow top line revenues through the first half of 2008. We are particularly encouraged to have accomplished this growth while undergoing a transformation of our sparkling flavored water beverage business, which has necessitated a reduction in inventory and sales. With our recent announcement that the Cott Corporation will now be producing our sparkling flavored waters in various PET formats, we are set to launch a new phase for Clearly Canadian beverages which we believe will bring in significantly greater revenue and margins." Mr. Genovese further stated, "Despite ongoing cost challenges faced by all food and beverage F&B is a common abbreviation in the United States and Commonwealth countries, including Hong Kong. F&B is typically the widely accepted abbreviation for "Food and Beverage," which is the sector/industry that specializes in the conceptualization, the making of, and delivery of foods. companies, we are extremely pleased with our progress towards building a sustainably profitable company. We are confident that we are on target to meet our projections of annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. revenue in the range of $16 million for 2008. And as we continue to achieve efficiencies with our selling, general and administration expenses, we believe the company will be profitable on an EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become basis in 2009." Conference Call and Web-Cast The Company will hold a conference call to discuss its financial results on August 27, 2008 at 4:15 p.m. EST. The live phone call-in number is 800-909-4798. The conference will also be web-cast live and can be accessed on the Company's website at www.clearly.ca. A replay of the web-cast will be available on the site for the following 90 days. About Clearly Canadian Based in Toronto, Clearly Canadian Brands markets premium alternative beverages, including Clearly Canadian(R) sparkling flavored waters and Clearly Canadian dailyEnergy, dailyVitamin and dailyHydration Natural Enhanced Waters which are distributed in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , Canada and various other countries. Clearly Canadian's recent acquisition of DMR (Digital Media Receiver) See digital media hub. Food Corporation and My Organic Baby Inc. marks the Company's debut into organic and natural products with a full line of organic baby and toddler foods under the brand names My Organic Baby and My Organic Toddler and a wide range of dried fruit and nut Fruit and Nut some times known as Cadbury Fruit And Nut Bars are bars of milk chocolate with raisins and almonds which are made by Cadbury and based on their solid Dairy Milk bar, but containing nuts and raisins. snacks offerings from SunRidge Farms, Naturalife, Sweet Selections, Simply by Nature and Glengrove Organics brands. To find out more about Clearly Canadian Brands (OTCBB: CCBEF), visit our website at www.clearly.ca. Forward Looking Statements Statements in this news release that are not historical facts are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that are subject to risks and uncertainties. Words such as "expects", "intends", "plans", "may", "could", "should", "anticipates", "likely", "believes", "estimates", "potential", "predicts", "continue" and words of similar import also identify forward-looking statements. Forward-looking statements are based on current facts and analysis and other information that are based on forecasts of future results, estimates of amounts not yet determined and assumptions of management, including but not limited to, the belief in the opportunities which can exist for our products and the revenue growth for the Company. These assumptions are subject to many risks, and actual results may differ materially from those currently anticipated. These risks include, by way of example and not in limitation, general economic conditions, changing beverage consumption trends of consumers, the Company's ability to generate sufficient cash flows to support general operating activities and capital expansion plans, competition, pricing and availability of raw materials, the Company's ability to maintain the current and future retail listings for its beverage products and to maintain favorable supply, production and distribution arrangements, laws and regulations and changes thereto that may affect the way the Company's products are manufactured, distributed and sold and other factors beyond the reasonable control of the Company. Additional information on factors that may affect the business and financial results of the Company can be found in filings of the Company with the U.S. Securities and Exchange Commission and with the British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography and Ontario Securities Commissions The Ontario Securities Commission (OSC) is a regulatory agency which administers and enforces securities legislation in the Canadian province of Ontario. The OSC is an Ontario Crown corporation which reports to the Ontario legislature through the Minister of Finance. . [TABLE OMITTED] [TABLE OMITTED] |
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