Javalution Coffee Co. announces a 75 percent growth rate as it releases record revenues of $1,454,731 for the first quarter compared to revenues of $833,379 the same period in 2010. When comparing the first quarter of this year to the first quarter of 2010 gross profits were up 124 percent rising to $399,404 compared to $178,000, expenses were up 5 percent to $534,998 from $511,618, and the net loss fell 59 percent to ($134,000) from ($226,518).
Dave Briskie, CEO for Javalution, was pleased that roasting operations were cash flow positive for the quarter and was proud of the company's 124 percent rise in gross profits against only a 5 percent increase in expenses. He said in a prepared statement, "We are nearing profitability, and our consolidated EBITDA came in at ($5,057) VS ($226,518) in the year ago period. Our entire team is focused on achieving our goal of profitability and everyone in our company is working tirelessly on making that happen for our shareholders 2011." The first quarter financial results for 2011 are posted for review on PinkSheets.com.
