Jones Soda Co. Reports Fiscal 2016 First Quarter Results, Company Reports 48% Revenue Growth
SEATTLE--(BUSINESS WIRE)--Jones Soda Co., a leader in the premium soda category and known for its unique branding and innovative marketing, today announced results for the first quarter ended March 31, 2016.
For the first quarter of 2016, the Company reported revenue of $4.3 million, compared to the prior year’s first quarter revenue of $2.9 million, up 48% quarter over quarter. The Company reported net income for the first quarter of 2016 of $49,000 or $0.00 per share, compared to a net loss of $278,000 or $(0.01) per share, for the first quarter of 2015.
“When I rejoined Jones Soda, our company mission was to return to profitability and create a platform of brands to succeed in the dynamic beverage market. Our impressive revenue and case sale growth in the first quarter includes the launch of 7-Select® premium brand soda crafted by Jones into 7-Eleven stores across the United States. This partnership, along with other initiatives and continued momentum of our core brand, are all contributing to the transformation of our business model,” stated Jennifer Cue, CEO of Jones Soda Co.
First Quarter Review - Comparison of Quarters Ended March 31, 2016 and 2015
- Revenue increased 48% compared to last year.
- Case sales volume increased 73% compared to last year.
- Gross margin increased to 27.4% of revenue, compared to 25.6% last year.
- Net income of $49,000 or $0.00 per share, compared to a net loss of $278,000 or $(0.01) per share, last year.
