USA: Hawaiian Natural Water Company, Inc. Announces First Quarter Financial Results
The Company announced a loss of ($515,545) or ($0.09) per basic and diluted share, for the three months ended March 31, 2000 compared to a loss of ($416,548) or ($0.10) per basic and diluted share, for the comparable period in 1999.
Hawaiian Natural Water said 77 percent of net sales were derived from its PET bottled water products; 8 percent from home and office delivery sales, and 15 percent from East Meets West XEN herbally enhanced juice cocktails.
"The Company continues to reduce its operating losses and believes that these losses will decline throughout the year with growth in sales of retail PET products, home and office products, and East Meets West XEN beverages," said Marcus Bender, Hawaiian Natural Water CEO.
Hawaiian Natural Water Company bottles, markets and distributes bottled water under the brand name Hawaiian Springs in the U.S. and certain mainland and international markets. The Company operates primarily in the fastest growing segment of the bottled water industry, the retail premium (2 liters or less) PET market. Also, it markets purified water for home and office delivery in Hawaii under the brand names Ali'i and Aloha. Hawaiian Natural Water Company complies with U.S. Food and Drug Administration water labeling requirements for "bottled at the source." Its newest line of products, East Meets West XEN, are premium nutraceutical juice cocktails.
(The statements in this news release that are not historical facts or statements of current status are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 that involve risk and uncertainties. Actual results may differ widely.)
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