Drinks Americas Holdings has seen sales soar in its fiscal third quarter, but income continues to linger in the red.

The company, which develops and markets brands including Trump super-premium vodka, said yesterday (14 March) that sales for the three months to 31 January were up by a massive 875% year-on-year to US$2.7m. Drinks Americas credited the performance to Trump vodka, which was launched in the US in the last two weeks of October.

Net loss for the quarter, however, came in at $5.6m compared to a net loss of $1.5m a year earlier. Around 30% of the loss was due to the extinguishment of debt, a non-cash charge of $1.65m. Excluding all non-cash charges, the net loss for the third quarter was $2.5m.

"We have accomplished a great deal over the past few months," said J. Patrick Kenny, president & CEO of Drinks Americas, said. "Trump has been available for roughly three and-a-half months, and during that time period we have already shipped 40,000 cases, totalling $4.3m in sales. We continue to build momentum with thousands of cases of additional orders in the pipeline.

"Additionally, as a result of our $8m raise and conversion of $3.4m debt to equity, we significantly strengthened our balance sheet to provide us with a solid platform for future growth."