"We are pleased with our third quarter financial performance, in terms of our 4% revenue growth over the third quarter of the prior fiscal year and also our gross margin level of 39%, which was almost a 300 basis point improvement over the third quarter of the prior fiscal year," stated Michael Keown, Farmer Bros. President and Chief Executive Officer. Mr. Keown continued "This top-line growth and margin expansion in the quarter has allowed us to make further strategic investments in our sales team capabilities and in new product initiatives. Early customer feedback on the improvements to our tea products and re-branding under the Farmer Brothers brand is encouraging and the products are scheduled to ship in conjunction with the summer season."Total other expense in the third quarter of fiscal 2013 was $0.9 million compared to $2.0 million in the third quarter of the prior fiscal year. Total other expense in the third quarter of fiscal 2013 included $2.9 million in net realized and unrealized losses on coffee-related derivatives, compared to $3.3 million in the third quarter of the prior fiscal year.
Farmer Bros. Co. Reports Third Quarter Fiscal 2013 Results
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