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Long Island Ice Tea -10% after sales show decline

Published 08/11/2017, 06:17 PM
© Reuters.  Long Island Ice Tea -10% after sales show decline
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  • Long Island Iced Tea (LTEA +4.3%) is off 9.9% after hours following Q2 report of net sales that showed a decline of 7%.
  • That's largely due to revenue timing, the company notes. Sales for its ALO Juice product dropped 87%, to $55,000, due to some deliveries where it couldn't recognize revenue, but expects to in the future.
  • Sales for its branded business, meanwhile, rose 23% to $1.435M for the quarter.
  • Looking at the longer six-months time frame, overall sales were up 23% to $2.6M. ALO Juice sales declined only 6% in that period (to $487,000 from $520,000) and branded business rose 33% to $2.116M.
  • Press Release
  • Now read: Consumer - Top Gainers / Losers as of 12:00 pm


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