Jones Soda narrows loss in quarter
May 13, 2011
by Eric Schroeder
SEATTLE — Jones Soda Co. narrowed its loss in the first quarter of fiscal 2011, boosted in part by its first quarter of revenue growth in more than two years. The company sustained a loss of $1,670,000 in the quarter ended March 31, which compared with a loss of $2,132,000 in the first quarter of fiscal 2010.
Revenue, meanwhile, rose 5% to $4,087,000 from $3,893,000.
“We continued to deliver solid year-over-year improvement, highlighted by our first quarter of revenue growth in more than two years,” said William Meissner, president and chief executive officer. “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 D.S.D. channel of Jones Soda glass and WhoopAss Energy Drink compared to a year ago.”
Mr. Meissner added the company’s decision to exit underperforming categories contributed to an improvement in gross profitability and bottom line.