This Day On The Street
Continue to site
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

Jones Soda Co. Reports Fiscal 2011 First Quarter Results Revenue Growth Driven By Core Products

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, 2011. The Company reported revenue of $4.1 million for first quarter, an increase of $194,000, or 5%, over the same quarter of the prior year, which contributed to an increase in gross profit of 24%, to $1.0 million. Net loss for the quarter was $1.7 million, or ($0.05) per share, a 22% improvement from the first quarter 2010 net loss of $2.1 million, or ($0.08) per share.

William Meissner, President & Chief Executive Officer, stated, “We continued to deliver solid year-over-year improvement, highlighted by our first quarter of revenue growth in more than two years. 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.”

First Quarter Highlights — Comparison of Quarters ended March 31, 2011 and March 31, 2010
  • Revenue increased 5% to $4.1 million, compared to $3.9 million in the first quarter of 2010.
  • Gross profit increased 24% to $1.0 million, compared to $808,000 in the corresponding period a year ago. Gross profit margin increased 3.7% to 24.5%.
  • Operating expenses decreased 5% to $2.8 million compared to $2.9 million in the prior year.
  • Net loss improved 22% to $1.7 million, or ($0.05) per share, from the first quarter of 2010 net loss of $2.1 million, or ($0.08) per share.
  • Cash used in operations was $2.1 million versus cash used in operations of $2.5 million during the first quarter of 2010. Cash as of March 31, 2011 increased $136,000 as a result of completing the final draw down under the now-terminated equity line credit arrangement for net proceeds of approximately $2.2 million.
  • Inventories were $2.5 million as of March 31, 2011, down $1.3 million compared to inventories of $3.8 million as of March 31, 2010, due to our transition out of underperforming product lines.

“Our decision to exit underperforming categories contributed to the improvement in our gross profitability and bottom line,” continued Mr. Meissner. “We are pleased with our start to the year and believe we have the right plan in place and the financial flexibility to continue our positive momentum.”

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
Only $9.95
14-Days Free
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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.74 0.00%
FB $117.58 0.00%
GOOG $693.01 0.00%
TSLA $240.76 0.00%
YHOO $36.60 0.00%


Chart of I:DJI
DOW 17,773.64 -57.12 -0.32%
S&P 500 2,065.30 -10.51 -0.51%
NASDAQ 4,775.3580 -29.9330 -0.62%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs