This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Jones Soda Co. Reports Fiscal 2010 First Quarter Results

Jones Soda Co. (the Company) (NASDAQ: JSDA), a leader in the premium soda category and known for its unique branding and innovative marketing, today announced results for the first quarter ended March 31, 2010. The Company reported a net loss of $2.1 million, or ($0.08) per share, for the quarter ended March 31, 2010, a decrease of 18% from the first quarter 2009 net loss of $2.6 million, or ($0.10) per share.

Michael O’Brien, Chief Financial Officer, said, “Over the last 12 months we have streamlined our business by lowering overhead costs and focusing our resources on our core glass bottle business. With this focus, we have achieved improved year-over-year bottom-line results on lower case volumes and lower revenues.”

First Quarter Review – Comparison of Quarters ended March 31, 2010 and March 31, 2009

  • Revenue decreased 45% to $3.9 million for the quarter ended March 31, 2010, compared to $7.1 million in the first quarter of 2009.
  • Gross profit decreased to $808,000 for the quarter ended March 31, 2010, compared to $1.4 million in the corresponding period a year ago. For the quarter ended March 31, 2010, gross profit as a percentage of revenue increased to 20.8%, compared to 20.4% in the first quarter of 2009.
  • Operating expenses decreased 29% to $2.9 million, compared to the corresponding period a year ago and were benefited by cost containment measures including the reductions in workforce enacted during 2009.
  • Cash used in operations during the quarter decreased significantly to $2.5 million, versus cash used in operations of $4.3 million during the prior year period.

“We believe in the strength of the Jones Soda brand, but our failure to actively promote and create retail marketing programs has slowed our same-store sales in several markets. We are realigning our resources to direct targeted funding for new marketing programs and to address gaps in our core product portfolio, as well as to secure and grow larger distributor and national retail accounts. We continue to explore strategic partnerships and financing options that would be beneficial to our Company and shareholders, and give us the necessary funding to create sustained growth with our brands. The beverage business is not complex, Jones overcomplicated its model and inadvertently limited its resources to compete effectively. Our plan going forward is to support our core brands at retail and compete in proven, high-growth segments with brand ideas that connect with consumers,” commented William Meissner, President & Chief Executive Officer.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
JSDA $0.37 -2.62%
AAPL $126.37 2.53%
FB $83.20 -0.13%
GOOG $552.03 0.67%
TSLA $190.57 3.01%


DOW 17,976.31 +263.65 1.49%
S&P 500 2,086.24 +25.22 1.22%
NASDAQ 4,947.4410 +56.2220 1.15%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs