SEATTLE--(BUSINESS WIRE)--Jones Soda Co., a leader in the premium beverage category and known for its unique branding and innovative marketing, today announced results for the third quarter ended September 30, 2015.
For the third quarter of 2015, the Company reported revenue of $3.8 million compared to the prior year’s third quarter revenue of $4.4 million. Income from operations for the third quarter of 2015 improved to $3,000, compared to the prior year’s third quarter net loss from operations of $177,000. Net loss for the third quarter of 2015 improved to $179,000 or $(0.00) per share, compared to a net loss of $233,000 or $(0.01) per share, for the third quarter of 2014.
“We are pleased to announce that we have achieved an operating profit for the third quarter of 2015. Our quarter over quarter volume decline was because we did not repeat certain seasonal, lower margin, product offerings. Profitability continues to be a guiding principal and will be a factor in making promotional and operational decisions. Year-to-date case volume exhibits growth and we are seeing good momentum in our core business,” stated Jennifer Cue, CEO of Jones Soda Co.
Third Quarter Review – Comparison of Quarters Ended September 30, 2015 and 2014
- Revenue decreased 14% to $3.8 million, compared to $4.4 million last year.
- Gross margin increased to 25% of revenue, compared to 24% last year.
- Operating expenses decreased by $281,000, or 23%, to $946,000, compared to $1.2 million last year.
- Operating income improved by $180,000, or 102% to $3,000 compared to an operating loss of $177,000 last year.
- Net loss improved to $179,000 or $(0.00) per share, compared to a net loss of $233,000 or $ (0.01) per share, last year.
Year-to-Date Review - Comparison of Nine Months Ended September 30, 2015 and 2014
- Revenue decreased 2% to $10.9 million, compared to $11.1 million last year.
- Gross margin increased to 25% of revenue, compared to 24% last year.
- Operating expenses decreased by $643,000, or 17%, to $3.1 million, compared to $3.7 million last year.
- Operating loss decreased by $771,000 or 71%, to $318,000, compared to $1.1 million last year.
- Net loss improved to $575,000 or $(0.01) per share, compared to a net loss of $1.2 million or $ (0.03) per share, last year. Full release.
