Jones Soda Co., a provider in the premium soda category and known for its branding and innovative marketing, announced results for the first quarter ended March 31, 2012. Revenue for the first quarter 2012 decreased 6 percent to $3.9 million compared to revenue of $4.1 million for the first quarter 2011. The company reported a net loss of $1.7 million, or $(0.05) per share, for each of the first quarters of 2012 and 2011.
William Meissner, Jones Soda chief executive officer, commented in a prepared statement, “We are pleased with our gross margin improvement in the first quarter. We have been working to increase the efficiency of our product portfolio, while decreasing the cost of getting our products to market. We are pleased that this effort is delivering results. Seeing the traction of these improvements just before we head into the warmer months where our products typically are consumed more rapidly is encouraging.”
Revenue decreased 6 percent to $3.9 million, compared to $4.1 million last year.
Gross margin increased to 27 percent of revenue, compared to 24 percent of revenue, last year.
Operating expenses decreased 3 percent to $2.7 million compared to $2.8 million last year.
Net loss was essentially flat at $1.7 million, or $(0.05) per share for the first quarter 2012 compared to last year.