ORLANDO, Fla., Feb. 26, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies Inc., today announced it has issued a third quarter 2007 research update for Leading Brands, Inc. (Nasdaq:LBIX).
Ekta Bhatia, MBS, RedChip Research Analyst, wrote in the report:
"With the termination of Leading Brands' contract with Hansen, which had contributed a significant portion of the Company's revenue, LBIX decided to refocus on its proprietary line of beverages, including TrueBlue(r), the new STOKED(tm) energy drinks, Caesar's Cocktails, and other products. Revenue growth in the quarter reflected management's initiatives to encourage its proprietary brands. LBIX has entered into a contract with the major U.S. grocery chain, Kroger Co., thereby broadening the Company's customer base and adding to its top line. Further, STOKED energy drinks, which are now offered in two of the largest convenience store chains in Canada, also added to the third quarter's revenue growth and helped overcome seasonality. We continue to maintain our 'Buy' rating on the stock."
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Disclosure:
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