Coffee Holding Reports Loss in Q2
Coffee Holding, an integrated wholesale coffee roaster and dealer, has reported net loss of $2.04 million, or $0.37 per share for the second quarter ended April 30, 2008, compared to net income of $338,888, or $0.06 per share for the quarter ended April 30, 2007.
Net sales were $18.17 million, an increase of 28% compared to $14.19 million for the three months ended April 30, 2007.
Net sales for the first six months ended April 30, 2008, totaled $33.13 million, an increase of 23.5%, compared to $26.83 million for the six months ended April 30, 2007. Net loss was $1.86 million, or $0.34 per share, compared to net income of $648,592, or $0.12 per share, for the 2007 period.
Andrew Gordon, president and CEO of Coffee Holding, said: “Going forward, we anticipate a return to ‘business as usual’ for our company. We continue to see our revenues increase annually and we have a record of profitability during ten of the last twelve quarters since going public.”