Jones Soda Co. Earnings: Net Loss Narrows
Jones Soda Co. (NASDAQ:JSDA) reported its results for the first quarter. Jones Soda Co. develops, produces, markets and distributes a range of premium beverages and related products in the United States and Canada.
Jones Soda Earnings Cheat Sheet for the First Quarter
Results: Loss narrowed to $1.7 million (loss of 5 cents/diluted share) from $2.1 million (loss of 8 cents/share) in the same quarter a year earlier.
Revenue: Rose 5% to $4.1 million YoY.
Quoting Management: William Meissner, President & Chief Executive Officer, stated, “We continued to deliver solid year-over-year improvement, highlighted by our first quarter of revenue growth in more than two years. We believe that we are successfully executing our strategy of expanding our core product lines, as evidenced by a 13% increase in case sales through our DSD channel of Jones Soda glass and WhoopAss Energy Drink compared to a year ago.”
A year-over-year revenue increase last quarter snaps a streak of four consecutive quarters of revenue declines. The worst quarter in that span was the first quarter of the last fiscal year, which saw a 44.9% decrease.
Gross margins grew 3.7 percentage points to 24.5%. The growth seemed to be driven by increased revenue, as the figure rose 5% from the year earlier quarter while costs rose 0.1%.
Competitors to Watch: National Beverage Corp. (NASDAQ:FIZZ), Hansen Natural Corporation (NASDAQ:HANS), Dr Pepper Snapple Group Inc. (NYSE:DPS), Reed’s, Inc. (NASDAQ:REED), PepsiCo, Inc. (NYSE:PEP), The Coca-Cola Company (NYSE:KO), Celsius Holdings, Inc. (NASDAQ:CELH), Coca-Cola Enterprises Inc. (NYSE:CCE), Coca-Cola Bottling Co. Consolidated (NASDAQ:COKE), and Cott Corporation (NYSE:COT).
Stock Performance: Shares of JSDA are down 5.7% from the previous close of $1.22.