KonaRed Corporation Announces Sales Results for the Fourth Quarter and Full Year December 31, 2016; Provides Sales Guidance for 2017
Total revenue for the comparative fourth quarter periods grew by 422% to approximately $470,000 from approximately $90,000, including a one-time license fee of $200,000 in fourth quarter of 2016. KonaRed's new line of Cold Brew Coffees accounted for 68% of product sales for fourth quarter of 2016 and 49% for the full year.
Average quarterly sales growth for KonaRed's Cold Brew Coffees during 2016 was over 160% and its Cold Brew Coffee sales are expected to accelerate and exceed an average quarterly growth rate of approximately 65% during 2017, with significant peaks during the mid-year summer periods. If trends continue as expected, conservatively. Cold Brew Coffee sales should grow by approximately 5 times 2016 sales to approximately $3.0 million in 2017 which would increase total revenue to approximately 3 times 2016 total revenue.