BOONE, N.C., Aug. 18, 2016 (GLOBE NEWSWIRE) -- Appalachian Mountain Brewery, Inc. (OTC:HOPS) (“AMB”) today announced record revenue growth for second quarter 2016, in addition to reporting significant increases in both retail and wholesale operations.
- For three months ended June 30, 2016 revenue increased 106% to $1,123,891, compared to $511,743 for the same reporting period last year.
- Total wholesale sales increased 1,150% over the past twelve months compared to the previous twelve months.
- Retail beer sales increased 24% during the second quarter compared to the first quarter of this year.
- Retail beer sales increased 18.5% over the past twelve months compared to the previous twelve months.
- Retail cider sales increased 129% during the second quarter compared to the first quarter of this year.
- Retail cider sales increased 38.1% over the past twelve months compared to the previous twelve months.
“From our inception we have worked diligently to position the company for sustainable exponential growth. We believe this quarter represents a significant indicator of our ability to consistently drive new fundamental growth in the robust craft brew landscape while maintaining our commitment to social mindedness,” stated Company CEO Sean Spiegelman, “The result is we are creating long-term shareholder value and intense brand loyalty, both keys to our long-term success.”
AMB CFO, Jeremy Barnes added, “Our Master Distribution Agreement (MDA) and Alternating Proprietorship (Alt. Prop) with Craft Brew Alliance (Nasdaq:BREW) continues to aid the velocity of our growth and surpass our projections. We look forward to evolving this partnership moving forward and expect it will continue to positively impact AMB’s expansion this year and beyond.”
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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We Can So You Can, Inc. Foundation: https://wecansoyoucan.org/
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.