Who's Your Daddy has reported net revenues of US$133,814 for the first quarter against net revenues of $150,457 for the same quarter of 2006.

The net loss for the first quarter narrowed from $1.05m to $926,008, the Californian energy drinks company said yesterday (21 May).

The company said sales had actually increased by 38% in the first quarter but this had been obscured by an accounting change which brought its reporting system into line with industry norms.

However, in spite of the first-quarter growth in real terms, CEO Edon Moyal expressed dissatisfaction with the results. "Although the first calendar quarter is typically the slowest quarter for the beverage industry, we are not satisfied with our results," he said. "Since the end of the first quarter, we have taken many necessary steps to enhance our revenue-generating capacity, including expanding our sales team with experienced personnel from leading industry competitors and establishing a national sales plan with targets and incentives."

Moyal added that he expected these measures, along with other steps, to "increase sales rapidly" in the second and third quarters.