SEATTLE--(BUSINESS WIRE)--Jones Soda Co., a leader in the premium beverage category and known for its unique branding and innovative marketing, today announced results for the fourth quarter and year ended December 31, 2015.
For the fourth quarter of 2015, the Company reported revenue of $2.7 million, an increase of 10.9%, compared to the prior year’s fourth quarter revenue of $2.4 million. For the year ended December 31, 2015, the Company reported net revenue of $13.6 million, an increase of 0.3% compared to the prior year’s revenue of $13.6 million.
Commenting on the results, Jones Soda CEO Jennifer Cue said, “We are pleased with the increased revenue for the fourth quarter and fiscal year ended December 31, 2015. Despite the weakness in the Canadian dollar, we were still able to show double digit revenue growth in our core business fueled by increases in case volume. Looking forward in 2016, we anticipate strong revenue momentum from our new private label partnership with 7-Eleven, Inc. and the launch of our new brand, Lemoncocco. These new product lines, plus new Jones fountain partnerships, support our mission for sustainable, profitable growth.”
Fourth Quarter Review – Comparison of Quarters Ended December 31, 2015 and 2014
- Revenue increased 10.9% (despite a 15% period over period decrease in the average Canadian to U.S. dollar exchange rate) to $2.7 million, compared to $2.4 million last year.
- Gross profit margin increased to 18.7% of revenue, compared to 16.5% in the comparable quarter of 2014, due primarily to favorable impact on cost of goods by shifting more production to Canadian operations given the Canadian-U.S. dollar exchange rate
- Operating expenses decreased by $127,000, or 11.9%, to $939,000, compared to $1.1 million in the comparable quarter of 2014.
- Loss from operations improved to $438,000 compared to an operating loss of $669,000 in the comparable quarter of 2014.
- Net loss increased to $545,000 or $(0.01) per share, compared to a net loss of $339,000 or $ (0.01) per share, last year primarily due to a one-time deferred rent adjustment to other income of $334,000 during the fourth quarter of 2014 related to our prior office lease
Full Year Review - Comparison of Years Ended December 31, 2015 and 2014
- Revenue increased 0.3% (despite a 14% period over period decrease in the average Canadian to U.S. dollar exchange rate) to $13.6 million, compared to $13.6 million the prior year.
- Gross profit margin increased to 23.9% of revenue, compared to 22.2% the prior year, due primarily to favorable impact on cost of goods by shifting more production to Canadian operations given the Canadian-U.S. dollar exchange rate
- Operating expenses decreased by $770,000, or 16.1%, to $4.0 million, compared to $4.8 million the prior year.
- Loss from operations decreased by $1,002,000 or 57.0%, to $756,000, compared to $1.8 million last year.
- Net loss was $1,120,000 or $(0.03) per share, compared to a net loss of $1.5 million or $ (0.04) per share, the prior year. Full report.
