Jones Soda Company (JSDA) saw its loss narrow to $0.24 million, or $0.01 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $0.54 million, or $0.01 a share.
Revenue during the quarter grew 12.42 percent to $3.01 million from $2.67 million in the previous year period. Gross margin for the quarter expanded 588 basis points over the previous year period to 24.62 percent. Operating margin for the quarter stood at negative 7.72 percent as compared to a negative 16.38 percent for the previous year period
Operating loss for the quarter was $0.23 million, compared with an operating loss of $0.44 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at negative $0.17 million compared to negative $0.38 million in the prior year second quarter. At the same time, adjusted EBITDA margin stood at negative 5.69 percent for the quarter compared to negative 14.21 percent in the last year period.
For the year ended December 31, 2016, the Company reported revenue of approximately $15.7 million, an increase of 15.3%. Net loss improved to $183,000, or -0.00 per share, compared to a net loss of $1.1 million, or -0.03 per share, in the prior year. Jennifer Cue, chief executive officer of Jones Soda Co, stated, "Every key metric of financial and operating performance has improved in a substantial way during 2016. With a stronger foundation in place, now is the time to be more aggressive in creating additional partnerships and accelerating the growth of our initiatives."
Working capital increases marginallyJones Soda Company has recorded an increase in the working capital over the last year. It stood at $1.78 million as at Dec. 31, 2016, up 3.66 percent or $0.06 million from $1.72 million on Dec. 31, 2015. Current ratio was at 1.57 as on Dec. 31, 2016, up from 1.48 on Dec. 31, 2015.
Debt increases substantiallyJones Soda Co has witnessed an increase in total debt over the last one year. It stood at $1.20 million as on Dec. 31, 2016, up 32.71 percent or $0.30 million from $0.91 million on Dec. 31, 2015. Total debt was 24.43 percent of total assets as on Dec. 31, 2016, compared with 16.96 percent on Dec. 31, 2015. Debt to equity ratio was at 0.67 as on Dec. 31, 2016, up from 0.51 as on Dec. 31, 2015. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: editor@irisindia.net
