This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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

Marley Coffee's Revenue Increases 153 Percent In Fiscal First Quarter 2015

Stocks in this article: JAMN

DENVER, June 17, 2014 (GLOBE NEWSWIRE) -- Marley Coffee (OTCQB:JAMN) ( www.marleycoffee.com ), the sustainably grown, ethically farmed and artisan-roasted reports fiscal first quarter sales increased 153 percent compared with last year's comparable sales.

Commenting on the results for fiscal first quarter 2015, Brent Toevs, Chief Executive Officer of Marley Coffee, said, "First quarter results were in line with our expectations, as we continued to implement our objectives for the year. The key highlight of the quarter was our strategic agreement and capital raise with Mother Parkers, which we believe is an integral growth catalyst for us in the upcoming year and beyond. Subsequent to the end of the quarter, we have spent time integrating with the Mother Parkers team to help leverage its resources to drive Marley Coffee sales. Our focus during the quarter was on continuing to implement effective marketing campaigns to help increase our velocity of turning products off the shelf, expanding distribution to key retailers and increasing the talent at Marley Coffee as we complete our team."

Mr. Toevs added, "We believe we've successfully executed on our objectives, and our quarterly numbers reflect our continued focus. We remain confident in our ability to substantially increase our sales this year and reach our goal of more than $10 million in gross revenues and have identified a clear path to attain $25 million in the near future."

Financial Highlights for the Fiscal First Quarter Ended April 30, 2014

Sales revenue for the fiscal quarter ended April 30, 2014 increased 153 percent to $2.1 million compared with $846 thousand in the year-ago quarter.

Cost of sales for the quarter were $1.7 million compared with $318 thousand last year, primarily attributable to increased sales.

Gross profit was $453 thousand for the first quarter compared with gross profit of $499 thousand in the year-ago quarter. Gross profit margins were 21 percent compared with 59 percent in the year-ago quarter. The expected decrease in gross profit and gross profit margins was the result of our expansion into new markets and lower initial margins on sales. We expect gross profits to increase in upcoming quarters as we mature in our current grocery operations.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link 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

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, 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!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

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