US: Costs clampdown helps Jones Soda Co narrow H1 losses

By | 10 August 2012

  • H1 net losses slow by 38% to US$2.13m 
  • Net sales inch up by 1.31% to $9.1m 
  • Operating losses narrow from $3.5m to $2.07m
  • Q2 operating expenses down by 37% year-on-year to $2m
Jones Soda Co is reducing its losses with a clampdown on costs

Jones Soda Co is reducing its losses with a clampdown on costs

Jones Soda Co has reported a slowing of first-half losses as a push to cut expenses has taken hold. 

The Seattle-based soft drinks firm said yesterday (9 August) that net losses in the six monhs to the end of June slowed by 38% to US$2.13m. Sales edged up by 1.3% year-on-year to $9.1m in the period.

Operating losses narrowed from $3.5 in 2011 to $2.1m in H1 2012. 

Q2 also saw a healthier performance: Net losses narrowed by 75% to $459,000, while sales rose by 7% to $5.3m in the three months to the end of June. 

Jennifer Cue, Jones Soda’s CEO, who returned to the group in June after William Meissner quit, said the improved performance show that "expense reduction initiatives", started at the beginning of the year, were "taking hold".

"The company’s operations are focused on a more disciplined approach to growing revenues, living within our means, and re-igniting the entrepreneurial spirit of the company," she added. 

Looking ahead, Cue said: "Our entire team and our board of directors are committed to investing the company’s resources in a way that will deliver sustainability through the combination of growth and judicious expense management.”

The company's share price was up 9.97% yesterday at $0.319

To view the company's full statement, click here

Expert analysis

Jones Soda Co.: Consumer Packaged Goods Company Profile, SWOT & Financial Report

The profile contains a company overview, key employees, business description, competitive benchmarking, SWOT analysis, key facts, information on products and services, details of locations and subsidiaries, plus information on key news events affecting the company.

Sectors: Company results, Soft drinks

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