E-Malt.com News article: USA, NY: Harbor Brewing Company announces its quarter revenues

Harbor Brewing Company, Inc. announced on October, 17 that its quarterly revenues ending June 30th increased by over 39% to $718,508 versus $516,488 for the previous three month period. Additionally, losses narrowed by 83% to $36,434 for the quarter. When adding back non-cash charges such as depreciation the company was cash flow positive for the quarter. Revenue growth was across each subsidiary, as was improving profitability.

Thomas W. Scozzafava, Chairman and CEO of Harbor Brewing Company, stated, "The entire staff is dedicated in its pursuit of manageable growth while at the same time relentless in eliminating unnecessary overhead and reducing expenses. This continued focus has allowed us to significantly improve operations and reduce the company's outstanding debts."

Harbor Brewing Company expects to file its complete financials as well as its quarterly disclosure statement this week with OTCMarkets.

About Harbor Brewing Company, Inc.

Harbor Brewing Company, Inc. owns and operates brewing, baking, restaurant and real estate assets. In the brewing industry the company develops and acquires craft brewing companies and select craft beer labels. The company's holding, Sackets Harbor Brewing Company, develops, produces, and markets microbrewed beers such as the award winning "War of 1812 Amber Ale," "Thousand Islands Pale Ale" as well as "Railroad Red Ale", "1812 Amber Ale Light" and "Harbor Wheat" specialty beers. Its "1812 Amber Ale" is the company's flagship brand and was the winner of a Silver Award at the World Beer Championship.


19 October, 2011