Jones Soda Co., a provider in the premium soda category, announced results for the second quarter ended June 30, 2012. Revenue for the second quarter of 2012 increased 7.0 percent to $5.3 million compared to revenue of $4.9 million for the second quarter of 2011. The Company reported a net loss of $459,000, or $(0.01) per share, for the second quarter of 2012, compared to a net loss of $1.8 million, or $(0.06) per share, for the second quarter of 2011.
Jennifer Cue, Jones Soda’s chief executive officer, said in a prepared statement, “The improvement in Jones’ financial performance demonstrates that the expense reduction initiatives started at the beginning of the year are taking hold. The company’s operations are focused on a more disciplined approach to growing revenues, living within our means, and re-igniting the entrepreneurial spirit of the company. Our entire team and our board of directors are committed to investing the company’s resources in a way that will deliver sustainability through the combination of growth and judicious expense management.”
Chairman Mick Fleming added, “We are thrilled to have Jennifer Cue back at Jones. She has an impressive track record of operating and financial success at Jones as well as a true passion and understanding of our brand. Jennifer is highly motivated to lead the company to its true potential.”
Revenue increased 7.0 percent to $5.3 million, compared to $4.9 million last year.
Gross margin increased to 30 percent of revenue, compared to 29 percent of revenue last year.
Operating expenses decreased 37 percent to $2.0 million, compared to $3.2 million last year.
Net loss improved to $459,000, or $(0.01) per share, for the second quarter of 2012, compared to a net loss of $1.8 million, or $(0.06) per share, last year.
Comparing 6-month periods ended June 30, 2012 and 2011, revenue increased 1.3 percent to $9.1 million, compared to $9.0 million last year.
Gross margin increased to 29 percent of revenue, compared to 27 percent of revenue last year.
Operating expenses decreased 21 percent to $4.7 million, compared to $5.9 million last year.
Net loss improved to $2.1 million, or $(0.06) per share, compared to a net loss of $3.5 million, or $(0.11) per share, last year.
