Drinks Americas Announces Strong 2010 Fiscal Q2 Orders of SpiritsOctober 7, 2009
Wilton--October 6, 2009 / (http://www.myprgenie.com) -- Drinks Americas (OTCBB: DKAM) announced today that it has, to date, received $650,000 in new orders from distributors for Spirits during its fiscal second quarter for the period ending October 31, 2009. The Company expects to ship and recognize the majority of the revenue from these orders during its current quarter. The results exclude the sale of beer, from its labels such as Kid Rock’s BADASS Beer.
Last year, the Company's Spirits sales for the three months ended October 31, 2008 totaled $378,000. Drinks Americas increase in revenue is due to the Company’s ability to use its new credit facilities in order to start to rebuild customer inventories and take advantage of the interest in these brands, particularly Olifant Vodka, which after the twenty two city Snoop Dogg Olifant Vodka Summer Concert Series has continued accelerated growth.
Patrick Kenny, the Company’s Chief Executive Officer, said, "We are encouraged by the growth in our Spirits lines of business. The combination of the growth of our Spirits business and the strong response to our beer introduction positions the Company well for the future. Revenue growth should be further supported in the coming quarters as we continue to rebuild our spirit brands inventory levels. We are using all our resources to meet the production requirements for the sales orders we have received.”
Kenny further added, "Our orders that we are producing now for spirits indicate that business is up 75% before we factor in BADASS BEER, now selling in Michigan. We expect our inventory build on spirits and our expansion into the beer business to positively impact the coming quarters.”