BOONE, N.C., July 06, 2016 (GLOBE NEWSWIRE) -- Appalachian Mountain Brewery, Inc. (OTC:HOPS) (“AMB”) CEO Sean Spiegelman provided a shareholder update today advising on current activities and refreshing its corporate strategy for 2016. “As represented in our most recent financials, both revenue and profitability are up significantly, a trend we expect to sustain as our Master Distribution Agreement with Craft Brew Alliance continues to evolve and accelerate,” stated Spiegelman, adding, “We are pleased and proud to provide shareholders the clear evidence of our progress and expectations with regard to the Company’s growth, sustainability and profitability.”
Attributed to the Company’s ongoing distribution expansion, this level of growth is expected to repeat YoY as regional sales increase and potential new markets in South Carolina, West Virginia, Kentucky and Tennessee are explored in conjunction with its Craft Brew Alliance (CBA) partnership and CBA becomes further entrenched in AMB’s marketing efforts. Specific growth highlights to date this year include:
- For the three months ended March 31, 2016, revenue increased 47% to $511,743 compared to same reporting period last year. Total revenue increased 88% to $1,735,418 for year-end December 31, 2015 compared to year-end 2014.
- In the first six months of 2016, the Company has surpassed its total Craft beverage production for all three previous years combined since the Company’s inception (2013-2015) by over 30%.
- As of May 21, 2016, The Nielsen Company reported that AMB Flagships Long Leaf IPA and Boone Creek Blonde currently rank #1 and #2 in all leading retailer Food Lion stores based in North Carolina. Additionally, Long Leaf IPA is ranked # 2 and Boone Creek Blonde ranked # 4 in the entire state of North Carolina in 4 pack 16 ounce cans.
Following the release of our sustainability report in April, provided by SASB (Sustainability Accounting Standards Board), we announced in May the Company is now running on 100% pollution-free electricity through a partnership with national clean energy provider Arcadia Power. AMB CFO Jeremy Barnes stated, “These two events in conjunction demonstrate our success in executing a sustainable model that meets both environmental and fiscal obligations. We are committed to maintaining and building sustainability initiatives through the end of 2016 and look forward to keeping shareholders abreast of our progress.”
Net profit increased 71% to $15,207 for three months ended March 31, 2016 compared to $8,903 for the same reporting period last year. The Company believes this figure will increase in parallel with the aforementioned expected growth trend. Spiegelman added, “We truly appreciate the ongoing support received from the investment community to date. Further, we look forward to keeping current and prospective shareholders abreast of our progress while upholding our commitment to building and maximizing long-term shareholder value and maintaining our socially minded core business philosophy of community, sustainability and philanthropy.”
About Appalachian Mountain Brewery, Inc.
Comprised of two wholly-owned subsidiaries, its craft beer business “Appalachian Mountain Brewery, LLC” is dedicated to making seriously delicious craft beer while focusing its business model on community, sustainability and philanthropy. Winner of numerous medals and awards, the Brewery brews and offers for sale many different craft beers. Its wholly-owned subsidiary “FarmToFlame, LLC” operates a food truck that features a unique wood fired oven in the truck, providing our customers with a casual dining experience that balances innovation and sustainability. Appalachian Mountain Cidery makes a hard cider using third generation locally grown North Carolina apples. Both subsidiaries have received the prestigious official certification by ASAP (Appalachian Sustainable Agriculture Project) for Western North Carolina grown and produced products.
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FORWARD LOOKING STATEMENTS
This release contains certain “forward-looking statements” relating to the business of AMB and its subsidiary companies, which can be identified by the use of forward-looking terminology such as “estimates,” “believes,” “anticipates,” “intends,” "expects” and similar expressions. Such forward-looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. These forward-looking statements are based on AMB’s current expectations and beliefs concerning future developments and their potential effects on AMB. There can be no assurance that future developments affecting AMB will be those anticipated by AMB. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the Company) or other assumptions that may cause actual actions taken or results or performance to be materially different from those expressed or implied by such forward-looking statements. AMB undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
CONTACT: Sean Spiegelman, CEO (828) 263-1111 Sean@amb.beer
Source:Appalachian Mountain Brewery, Inc.