SEATTLE–(BUSINESS WIRE)–Jones Soda Co. (the Company) (OTCQB: JSDA), a leader in the premium soda category and known for its unique branding and innovative marketing, today announced results for the third quarter ended September 30, 2014. The Company reported revenue of $4.4 million for the third quarter of 2014, an increase of 3.7% compared to the prior year’s third quarter revenues of $4.2 million. Net loss for the third quarter of 2014 decreased to $233,000 or $(0.01) per share, compared to a net loss of $330,000 or $ (0.01) per share, for the third quarter 2013. Results for the third quarter of 2014 showed improvement from the prior year third quarter due to sales growth under reduced promotional spend and operating expenses.
Jennifer Cue, CEO of Jones Soda Co., stated, “As I said in August when I invested over a half million dollars of my own money into the Company by exercising my stock options and holding these shares in Jones, I am all in. During the third quarter, we were fiercely focused on sales execution and it showed in our results. We continue to build this business back up in a sustainable way that makes sense for the long-term future of this brand. We remain cautiously optimistic and hyper-focused on executing our strategy going into the fourth quarter and 2015.”
Third Quarter Review – Comparison of Quarters Ended September 30, 2014 and 2013
- Revenue increased 3.7% to $4.4 million, compared to $4.2 million last year.
- Gross margin as a percentage of revenue remained relatively flat at 24.0%.
- Operating expenses decreased by $111,000, or 8.3%, to $1.2 million, compared to $1.3 million last year.
- Net loss declined 29.4% to $233,000 or $(0.01) per share, compared to a net loss of $330,000 or $ (0.01) per share last year.
Year-to-Date Review – Comparison of Nine Months Ended September 30, 2014 and 2013
- Revenue decreased 3.9% to $11.1 million, compared to $11.6 million last year.
- Gross margin decreased to 23.5% of revenue, compared to 25.9% last year.
- Operating expenses decreased by $97,000, or 2.6%, to $3.7 million, compared to $3.8 million last year.
- Net loss increased 45.8% to $1.2 million or $ (0.03) per share, compared to a net loss of $824,000, or $(0.02) per share, last year.
Conference Call
The Company will discuss its results for the quarter ended September 30, 2014 on its scheduled conference call today, November 6, 2014 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time). This call will be webcast and can be accessed by visiting our website atwww.jonessoda.com or www.jonessoda.com/company/jones-press/webcasts. Investors may also listen to the call via telephone by dialing (719) 457-2729 (confirmation code: 1260820). In addition, a telephone replay will be available by dialing (858) 384-5517 (confirmation code: 1260820) through November 13, 2014, at 11:59 p.m. Eastern Time.
About Jones Soda Co.
Headquartered in Seattle, Washington, Jones Soda Co® markets and distributes its premium beverages under the Jones® Soda, Jones Zilch® and Jones Stripped™ brands. A leader in the premium soda category, Jones Soda is known for its variety of flavors, high quality ingredients (including pure cane sugar), and innovative labeling technique that incorporates always-changing photos sent in from its consumers. Jones Soda is sold through traditional beverage retailers in markets primarily across North America. For more information, visit www.jonessoda.com or www.myjones.com.