SEATTLE--(BUSINESS WIRE)--Jones Soda Co. announced results for the third quarter ended September 30, 2016.
For the third quarter of 2016, the Company reported revenue of approximately $4.1 million, up 8.5% over the third quarter of 2015, based on case volume growth of 11.8%. The Company recorded net income of $69,000 or $0.00 per share for the third quarter of 2016, compared to a net loss of $179,000 or $(0.00) per share, for the third quarter of 2015.
Commenting on the industry and company CEO Jennifer Cue stated, “Achieving profitability for our shareholders has been the number one priority since I came on board as CEO and personally invested almost $700,000. Now our attention is focused on higher margin growth from Lemoncocco, our new non-carbonated beverage, as well as Jones Soda on Fountain and opportunities in the specialty and craft soda segment of the beverage industry.”
Third Quarter Review - Comparison of Quarters Ended September 30, 2016 and 2015
- Revenue increased 8.5% compared to last year.
- Case sales volume increased 11.8% compared to last year.
- Gross margin increased to 27.0% of revenue, compared to 25.2% last year.
- Net income improved to $69,000 or $0.00 per share, compared to a net loss of $179,000 or $(0.00) per share, last year.
Year-to-date Review - Comparison of Nine Months Ended September 30, 2016 and 2015
- Revenue increased 16.0% compared to last year.
- Case sales volume increased 26.7% compared to last year.
- Gross margin increased to 26.5% of revenue, compared to 25.1% last year.
- Net income improved to $53,000 or $0.00 per share, compared to a net loss of $575,000 or $(0.01) per share, last year. Full report.
