Jones Soda net rises on 5% sales growth
May 04, 2007
by Eric Schroeder
SEATTLE — Net income at Jones Soda Co. in the first quarter ended March 31 was $58,312, up sharply from $2,542 in the first quarter of fiscal 2006. Sales rose 5% to $9,189,089 from $8,760,380.
"During the quarter we worked hard to prepare for the full launch of our Jones Soda 12-oz cans while at the same time increase the penetration of our bottled business at retail," said Peter van Stolk, president and chief executive officer. "Sales of 1,124,000 cases (288 ounce equivalent) of concentrate during the quarter contributed to meaningful gross margin expansion. However, this expansion was offset by additional investments in our infrastructure, primarily sales personnel and increased compliance costs to support our aggressive expansion plans coupled with several new promotional programs aimed at heightening our brand awareness."