SEATTLE — The launch of 7-Select premium brand soda combined with momentum from the company’s core brand led to a return to profitability at Jones Soda Co. Net income in the first quarter ended March 31 was $49,000, which compared with a loss of $278,000 in the same period a year ago. Net sales increased 48% to $4,272,000 from $2,893,000.
|Jennifer Cue, c.e.o. of Jones Soda|
“We are pleased with so many aspects of our business and are most happy about what this quarter states about where we have come over the past four years,” Jennifer Cue, chief executive officer, said during a May 5 conference call with analysts. “We spent the last several years cutting out excess expense, establishing new disciplines, as well as building relationships with our distributor and retailer base, all to set the company up for success over the long term. And we are seeing the results of our hard work. Our profitable quarter is the company’s first since nine years ago in the second quarter of 2007.”
Ms. Cue said the achievement has been possible due to four specific things: the tightening of spending; the continued refinement and building of the Jones Soda core brand; the creation and addition of new partnerships and volumes; and the addition of new initiatives and brands.“With the transformation of our business model, the continued enhancement of our distributor and retailer partners, plus the addition of new partners, as well as launching new initiatives within the Jones brand and outside of it, I can honestly say I’ve never been as excited about the future of this company,” Ms. Cue said.