The company reported a net loss of $1.6m, or ($0.06) per share, for the quarter ended 30 June 2010, a decrease of 21% from the second quarter 2009 net loss of $2.0m, or ($0.07) per share.
“We’re in the process of overhauling our sales organisation and bringing in proven leadership to strengthen our wholesale and retail execution,” said William Meissner, president & CEO. “This will support our core brands at retail and we believe will lead to important market share gains in the future. Equally important, we’re also pleased to report that our cash position increased vs the prior quarter, making it the first time in 13 quarters that we increased our cash balance. This increase doesn’t include the $1.1m raised in conjunction with our first draw down on the equity line that closed in July 2010.”
Source: Jones Soda
© FoodBev Media Ltd 2024