US: Jones Soda narrows Q1 net losses
- First quarter net losses decrease by 22% to US$1.7m
- Net sales rise by 5% to $4.1m
- Losses from operations improve by 16% to $1.7m
- Continuing strategy of expanding core product lines
Jones Soda narrowed its net losses in the first quarter
Jones Soda has reduced its net losses in the first quarter.
For the three months to the end of March, Jones Soda recorded net losses of US$1.7m, a 22% improvement on the prior-year period. The soft drinks maker also narrowed its operating losses by 16% to $1.7m, it said yesterday (12 May).
Net sales increased by 5% to $4.1m.
“We continued to deliver solid year-over-year improvements, highlighted by our first quarter of revenue growth in more than two years,” said Jones Soda's president and CEO, William Meissner.
“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 DSD channel of Jones Soda glass and WhoopAss Energy Drink compared to a year ago.”
Click here to view the earnings release.
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