Jones Soda narrows loss in quarter
August 13, 2010
by Eric Schroeder
SEATTLE — Jones Soda Co. narrowed its loss in the second quarter ended June 30 to $1,554,000 from $1,967,000 in the same period a year ago. Net sales for the Seattle-based beverage maker fell 28% to $5,365,000 from $7,482,000.
“We are in the process of overhauling our sales organization and bringing in proven leadership to strengthen our wholesale and retail execution,” said William Meissner, president and chief executive officer. “This will support our core brands at retail, and we believe will lead to important market share gains in the future.”
Mr. Meissner said Jones Soda increased its cash position in the second quarter, the first time the company has done so in 13 quarters.
For the six months ended June 30 Jones Soda sustained a loss of $3,686,000, which compared with a loss of $4,568,000 in the first half of fiscal 2009. Net sales totaled $9,258,000, down 35% from $14,554,000.