US: Jones Soda builds towards future as H1 losses widen
- First-half net losses widen to US$0.97m from $0.49m
- Net sales down 8% to $6.8m
- H1 operating losses widen to $0.91m from $0.47
- Second-quarter net losses widen to $0.43 from $0.09
- Net sales down 10% to $3.9m
- Q2 operating losses widen to $0.4m from $0.08m
- Volumes down 7.5% to 491,000 cases (288-ounce equivalent)
- Investments made to build relationship with “major international retailer”
Jones Soda released its results yesterday
Jones Soda has posted a fall in sales and widening losses as the Seattle-based soft drinks maker continues to reshape its business.
Jennifer Cue, CEO of Jones Soda, said yesterday: “As we complete the restructuring process of our business, we are now shifting the management team’s focus from stability towards growth and profitability. I am extremely pleased with the significant improvements we have achieved in our operating structure over the long term.”
Cue said losses were impacted by “mission-critical expenditures” to build new distribution and to “foster a growing relationship with a major international retailer”.
Jones Soda lost its NASDAQ listing in 2012 because its shares had traded below US$1 for too long.
To read the company's full results, click here.
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