SEATTLE--(BUSINESS WIRE)--March 5, 2015--Jones Soda Co. (the Company) (OTCQB:JSDA), a leader in the premium soda category and known for its unique branding and innovative marketing, today announced results for the fourth quarter and year ended December 31, 2014.
For the quarter ended December 31, 2014, the Company reported revenue of $2.4 million, an increase of 15.0% compared to the prior year’s fourth quarter revenues of $2.1 million. Net loss for the fourth quarter of 2014 improved to $339,000, or $(0.01) per share, compared to a net loss of $1.1 million, or $(0.03) per share, for the fourth quarter 2013.
For the year ended December 31, 2014, the Company reported revenue of $13.6 million, a decrease of 1.0% compared to the prior year’s revenues of $13.7 million. Net loss improved to $1.5 million, or $(0.04) per share, compared to a net loss of $1.9 million, or $(0.05) per share, in the prior year.
Jennifer Cue, CEO of Jones Soda Co, stated, “With costs finally in line with the size of our business, we are hyper-focused on executing on our growth strategy, which shows in our results. Fourth quarter is seasonally a lower volume period and so we are pleased with the improvements we achieved.” Ms. Cue then stated, “My cash purchase of 2,000,000 shares earlier this year demonstrated my alignment with long-term shareholder interests and complete confidence in the Company’s future. Two consecutive quarters of sales growth is a start, but we have more to accomplish as we continue our focus on our core business while moving towards a platform for more diversified revenue.”
Full Year Review - Comparison of Years Ended December 31, 2014 and 2013
- Revenue decreased 1.0% to $13.6 million, compared to $13.7 million last year.
- Gross margin decreased to 22.2% of revenue, compared to 23.8% last year.
- Operating expenses decreased by $331,000, or 6.5%, to $4.8 million, compared to $5.1 million last year.
- Net loss improved 18.6% to $1.5 million, or $(0.04) per share, compared to a net loss of $1.9 million, or $(0.05) per share, last year.
Fourth Quarter Review - Comparison of Quarters Ended December 31, 2014 and 2013
- Revenue increased 15.0% to $2.4 million, compared to $2.1 million last year.
- Gross margin increased to 16.5% of revenue, compared to 12.2% last year.
- Operating expenses decreased by $234,000, or 18.0%, to $1.1 million, compared to $1.3 million last year.
- Net loss improved to $339,000, or $(0.01) per share, compared to a net loss of $1.1 million, or $(0.03) per share, last year.
