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