Eastside Distilling Inc. said gross sales grew 31% last year to $3 million as total shipments increased 53% to 15,596 cases. But the company’s net loss also soared –to $$5.2 million from $3.6 million.
“We are wasting no time in trans forming Eastside into a leaner and more competitive company. We have reallocated resources to our core market in the Pacific Northwest and this has been rewarded, but we are also entering new spaces such as internet marketing. Out of eighty-nine distilleries, we have become the third largest spirits producer in Oregon, reaching out nationally and Internationally. As we
maintain our focus on growth, we intend to ensure profitable growth, concentrating on higher margin products.We see plentiful opportunities to make strategic and ‘bolt on’ acquisitions. We will do so, opportunistically, when we can add shareholder value as the only ‘pure play’ public craft spirits company.”