Javalution Coffee Co., a fully vertical coffee roasting and distribution company, owner of the Direct Marketing Brand JavaFit, and the retail brand, Café La Rica, as well as the category creator of functional gourmet coffee, announced consolidated 4th quarter 2010 financial results. The fourth quarter financials and the 2010 year ending financial results are posted for review on Pink Sheets.com.
The company disclosed fourth quarter ending revenue of $1,126,109 for the period ending Dec. 31, 2010. This represents a 36 percent increase over the same period in 2009. Consolidated gross profits for the period were $166,335 representing a 538 percent increase over the same period 2009. Consolidated net loss for the fourth quarter 2010 were ($471,418) versus a net loss for the same period in 2009 of ($2,311,994) representing an 80 percent improvement for the comparable period.
Dave Briskie, CEO for Javalution, said in a prepared statement, "We experienced a 65 percent revenue increase on the roasting side of our company on the strength of expansion within our cruise line business. New cruise line contracts began producing revenue last November and this contributed greatly to our strong finish in 2010." Briskie continued, "We are pleased to record sales in excess of 1 million dollars in the 4th quarter and stated that the company expected to deliver record sales in the first quarter 2011. Our primary objective is to deliver profits and we will work tirelessly to meet that objective in 2011."