PORTLAND, OR--(Marketwired - Mar 10, 2016) - Eastside Distilling, Inc. (OTCQB: ESDI), a producer of award-winning master-crafted spirits, reported today that its brand expansion efforts continue to drive strong sales momentum.
Eastside experienced more than a 33% increase in distribution and direct sales during the recent 2015 holiday season, as compared to the 2014 holiday season. From November 1 through December 31, 2015, the Company shipped more than 3,500 cases of spirits produced and bottled at its facility in southeast Portland to destinations within Oregon and across several recently approved states for Eastside liquor sales, with approximately 2,800 cases being shipped in Oregon alone. "The consistent, strong year-over-year growth in Oregon, where the Company began selling more than 5 years ago, is a testament to the quality of the products and success in building and positioning our brand," stated Steven Earles, CEO of Eastside Distilling. "It also provides a strong foundation as we continue to launch the brand in additional markets nationally," said Mr. Earles.
For 2016, the Company has started off on a record pace, with over 2,100 cases shipped in the first 60 days, representing an increase of over 64% as compared to the same period last year. The growth is being fueled by further expansion in Oregon as well as initial penetration across a number of states recently approved for Eastside liquor sales. The Company further anticipates several new states to be approved for liquor sales in 2016 to augment its growing national presence.
Additionally, the Company is pleased to announce that it has been invited to attend the 28th Annual ROTH Conference being held on March 13-16 2016 at The Ritz-Carlton, Laguna Niguel in Dana Point, California. This is the second consecutive year in which Eastside has been invited to attend the ROTH Conference. Eastside Distilling management will be available for one-on-one meetings to discuss the Company's operations and prospects. In addition, the Company will also sponsor the conference's two major evening entertainment events and will feature a selection of Eastside's award-winning spirits, including Barrel Hitch American Whiskey, Cherry Bomb Whiskey, Portland Potato Vodka, Marionberry Whiskey, Below Deck Silver Rum and Below Deck Spiced Rum.
"We are extremely pleased with our results during the first 2 months of 2016 and believe they continue to validate our marketing approach which is focused on building our brand and expanding our distribution partnerships both regionally and nationally," said CEO Steven Earles. "One of the key contributing factors to this growth is our recent addition of one of the nation's top three distributors. Ultimately distribution is a critical sales component and in our opinion the addition of a prominent national distributor bodes well for the future. We are also pleased to be participating in the 28th Annual Roth Growth Conference. It's a great opportunity to tell our story to a wide spectrum of the investment community," concluded Mr. Earles.
About ROTH Capital Partners 28th Annual Growth Stock Conference
ROTH Capital Partners 28th Annual Growth Stock Conference brings together over 500 participating companies and over 3,000 attendees and will feature presentations from hundreds of public and private companies in a variety of sectors including: Consumer, Cleantech & Solar and Industrial Growth, Healthcare, Resources, and Technology & Media. Company presentations, Q&A sessions, panels and management one-on-one meetings offer investor clients opportunities for extensive interaction with executive management to gain in-depth insights into each business and sector.
About Eastside Distilling
Eastside Distilling, Inc. has been producing high-quality, master crafted spirits since 2008 and is located in Southeast Portland's Distillery Row. Makers of award winning spirits, the company is unique in the marketplace and is distinguished by its highly decorated product lineup that includes Burnside Bourbon, Barrel Hitch American Whiskey, Below Deck Rums, Portland Potato Vodka and a distinctive line of infused whiskeys. All Eastside spirits are master crafted from natural ingredients for unparalleled quality and taste. The company is publicly traded under the symbol OTCQB: ESDI. For more information visit: www.eastsidedistilling.com or follow the company on: Twitter & Facebook.
Certain matters discussed in this press release may be forward-looking statements. Such matters involve risks and uncertainties that may cause actual results to differ materially, including the following: changes in economic conditions; general competitive factors; acceptance of the Company's products in the market; the Company's success in obtaining new customers; the Company's success in product development; the Company's ability to execute its business model and strategic plans; the Company's success in integrating acquired entities and assets, and all the risks and related information described from time to time in the Company's filings with the Securities and Exchange Commission ("SEC"), including the financial statements and related information contained in the Company's Annual Report on Form 10-K and interim Quarterly Reports on Form 10-Q. Examples of forward-looking statements in this release may include statements related to our strategic focus, product verticals, anticipated revenue, and profitability. The Company assumes no obligation to update the cautionary information in this release.