US: Jones Soda Q1 sales leap
Jones Soda Co. has posted a healthy rise in sales for the first quarter of its fiscal 2006.
The Seattle-based company said yesterday (4 May) that net income dipped slightly, however, following the implementation of new accounting methods.
While sales for the three months to 31 March increased by 27.4% year-on-year to US$8.7m, net income was US$2,542, versus US$16,928 for the same period last year.
"Our first quarter results were fuelled by strong demand across the board and represent a solid beginning to fiscal 2006," said Peter van Stolk, president and CEO, yesterday (4 May). "As we approach the key summer selling season, we are encouraged by the pace of our business and our entire organisation remains focused on successfully executing our strategic plan.
"First quarter revenues were also driven by the launch of our inaugural Valentines Day Soda Pack featuring "Love Potion #6" which was a big hit with consumers and surpassed all of our internal expectations."
"We move forward excited about the many opportunities we have created in the marketplace and are committed to returning significant value to our shareholders."
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