Jones Soda Co. Reports Loss For Fiscal 2013 Second Quarter

Aug. 12, 2013

Jones Soda Co. has announced results for the second quarter ended June 30, 2013. For the second quarter of 2013, the company achieved a 79 percent improvement in bottom line performance, reporting a net loss of $95,000, or $0.00 per share, compared to a net loss of $459,000, or $(0.01) per share, for the second quarter 2012. Revenue declined 19 percent to $4.3 million compared to revenue of $5.3 million for the second quarter of 2012 reflecting management's strategy to reallocate resources to certain targeted markets.

“Twelve months ago when I returned to Jones Soda as CEO, I stated that our priority was to become a financially-sustainable company by aligning our operating expenses with our capital resources and size of our company. Our efforts are delivering results evident by the breakeven EPS this quarter as well as positive EBITDA. Jones Soda today is a stronger business because we act like owners and make decisions with an eye to the Company's long-term profitability,” stated Jennifer Cue, CEO of Jones Soda Co., in a prepared statement.

Cue added, “We will continue doing what we've been doing, maintaining our focus and discipline in executing our Turnaround Plan. With our emphasis on making our product more widely available in independent accounts, we believe we have a more balanced and diversified distribution strategy.”