Marley Coffee Reports 187% Increase in Quarterly Report; FinancialBuzz has the Exclusive CEO Interview
Looking for your next caffeine hit? Keep an eye out for the coffee craze about to sweep the nation and quickly gaining tract abroad. Jammin Java Corp. (OTC: JAMN) , doing business as Marley Coffee, has just released its quarterly Report to an astonishing 187 per cent increase.
Marley Coffee Reports 187% Increase in Quarterly Revenue for Quarter Ended July 31, 2013 Compared to Quarter Ended July 31, 2012 and Significant Increases in Gross Profit and Gross Profit Margins
DENVER, Sept. 12, 2013 (GLOBE NEWSWIRE) -- Marley Coffee (JAMN), (www.marleycoffee.com), the sustainably grown, ethically farmed and artisan-roasted gourmet coffee company, reports financial results for the three and six months ended July 31, 2013 and 2012, including increases in revenue, gross profit and gross profit margins, as well as improvements in net loss for the fiscal second quarter and six months ended July 31, 2013, compared to the fiscal second quarter and six months ended July 31, 2012.
Highlights of the second fiscal quarter and six months include:
- Revenue for the 2014 second fiscal quarter (i.e., the three months ended July 31, 2013) increased 187 percent to $1.6 million vs. $559 thousand compared withfiscal 2Q 2013. For the six-month period ended July 31, 2013, revenue increased 179 percent to $2.4 million compared with $869 thousand in the year-ago six-month period.
- Gross profit increased to $472 thousand in the 2014 second fiscal quarter compared with $67 thousand in the year-ago second fiscal quarter. For the six months ended July 31, 2013, gross profit was $971 thousand compared with $142 thousand in the year-ago six-month period.
- Gross profit margins increased to 29.4 percent in the second quarter of fiscal 2014 from 11.9 percent in the year-ago second fiscal quarter.
- Operating expenses decreased during the second fiscal quarter 2014 to $867 thousand from $1.0 million in the year-ago second fiscal quarter, and to $1.7 million for the six months ended July 31, 2013 from $2.0 million in the year-ago six-month period.
- Net loss decreased to $715 thousand, or $0.01 per share for the second fiscal quarter of 2014, compared with a $986 thousand net loss, or $0.01 per share, in the year-ago second fiscal quarter. For the six-month period ended July 31, 2013, net loss was $1.1 million, or $0.01 per share compared with $1.9 million or $0.02 per share in the year-ago six-month period.
- Increased retailer penetration to 7,500 locations as of July 31, 2013, compared with 500 locations at the end of the second quarter last year.
- Generated distribution with several leading supermarket chains and retail outlets including Kroger, Safeway, Shaw's, Star Market, Winn-Dixie/ BI-LO, Market Basket and Best Buy/Future Shop of Canada.
- Freed up more than $3.7 million in two tranches through Ironridge Global IV, Ltd. for the settlement of trade payables and to help finance Marley Coffee's rollout to national and regional chains.
- Acquired Black Rock Beverage Services, expanding the company's business into the office coffee and food service markets.
- Moved corporate headquarters to Denver.
"We are extremely pleased with the traction that Marley Coffee has made in the marketplace and the improved brand awareness that has increased our footprint with some of the largest and most successful retail grocery chains and consumer electronics chains in North America," said Rohan Marley, founder and Chairman, who continued, "Our goal is to continue to increase our distribution network in both domestic and international markets, introduce innovative new products and increase the number of SKUs carried by our customers throughout this fiscal year and into fiscal 2015.
"As revenues increase, we also expect to continue to benefit from economies of scale and margin expansion as we seek to capitalize on the significant trend and growing consumer awareness toward organic, sustainable premium and super-premium specialty coffees, and specifically, greater awareness and demand for our brand."
About Jammin Java Corp., d/b/a Marley Coffee
Marley Coffee (corporate name Jammin Java Corp.) is a US-based company that provides premium, artisan roasted coffee to the grocery, retail, online, service, hospitality, office coffee service and big box store industry. Under its exclusive licensing agreement with 56 Hope Road, the company continues to develop its coffee lines under the Marley Coffee brand. The company is a fully reporting company quoted on the OTCQB under the symbol "JAMN". Learn more at www.MarleyCoffee.com or visit the corporate website at www.JamminJavaCorp.com.
JAMN prides itself on premium-roasted coffee. They distribute on a wholesale level to grocery, retail, online, service, hospitality, office coffee service, and big box store industries throughout the world, so once you come to crave it, no doubt, you will soon have access to Marley Coffee wherever you are.
Why Marley Coffee?
JAMN was founded by Gourmet Coffee Company, by Rohan Marley (yes, that’s right, think Bob Marley). Rohan wanted to incorporate and capture the tradition of his family and their passion for farming and coffee, and has set out to take on the coffee industry by storm, with promising sights ahead.
Brewed for Success
For those wondering about the longevity of JAMN, don't stress JAMN has a 15-year exclusive licensing agreement with Fifty-Six Hope Road Music Limited, a Bahamas international business company that holds the intellectual property rights to the late reggae performer Bob Marley. This agreement will allow the company a Worldwide, exclusive, non-transferable License to use the Marley Coffee trademark.
One Cup of Coffee - Rohan Marley Tells Us a Bit About the Jammin Java Story
Marley coffee plans on staying in the coffee industry for a long time and their company’s business endeavors can attest to that.
On July 11th,2013, JAMN announced the release of their “Real Cups,” which are compatible with the single serving K-Cup machines, in Future Shop, a subsidiary of Best Buy that is located throughout Canada. Future Shop is Canada’s largest consumer electronics retailer.
On July 25th, 2013, JAMN consolidated their sales, design and marketing teams and moved over to their new facility in Denver, CO. This new venture immediately added 12 new employees into their sales, marketing, design, business development and human ources team.JAMN closed out July of 2013 with a strong presence. JAMN settled trade payables to Ironridge Consumer Co., a total of $2.5 million worth of common stock. Ironridge is an institutional investor specializing in direct equity investments in consumer product companies. JAMN plans on using the funds to help support the company’s rollout of national and large regional retail grocery chains. By this time, JAMN already has the 2 largest grocery retail chains on its belt, (1) Krogers and (2) Safeway .
Also at the end of July, AVT, Inc., a tech leader in developing automated retailing systems, customized kiosks and micro-stores, awarded an exclusive distributorship of their Marley Coffee Automated Stores in the tri-county area of South Florida. This area is projected to be worth over $3.5 million in new revenues due to the fact that the demographic of the area is immersed in a culture that is known for loving coffee.
JAMN continued their business developments at the start of August. On the 1st of August, 2013, JAMN announced that they have signed a letter of intent to acquire the assets of Black Rock Beverage Services (BRB), a boutique coffee and food service provider that serves the greater Denver market. JAMN absorbed BRB’s employees, equipment and trucks. This move will play a bigger role in the development of JAMN’s national strategy.
By mid August 2013, JAMN partnered itself with Garden of Life (GOL), the #1 selling brand in the Natural Products Industry according to SPINScan. Marley Coffee flavors will now be available for GOL’s Raw Protein and Raw Meal. JAMN also announced the same day that their products will also be available in key supermarket chains within the “Ahold” network, a Dutch-based international retail company that owns over 3000 locations and employs 450,000 globally. The Ahold network essentially services the needs of 40 million customers in 28 different countries.
Recent Corporate Developments and News Surrounding Jammin Java Corp.:
- A top independent research firm recently released a complete due diligence article and also gave JAMN a $.64 price target. Take a look at the SeeThruEquity report now http://library.constantcontact.com/download/get/file/1108926845265-23/JAMN+Initiation.pdf. A part of the research report provides insight to this emerging growth company and its potential in the coffee market sector. SeeThruEquity report's, "Gaining Retailer Traction" section stated, "At the start of this year, Marley Coffee products were in approximately 1,000 retail locations and are currently in over 6,000 locations, with a goal of 8,000 by year end. Management recently announced the addition of Safeway to its distribution network, which means they now have distribution to the two largest grocery retail chains in America - Krogers (#1) and Safeway (#2)."
- Another research firm, gave JAMN even a higher price target price of $0.70 http://www.wallstreetnewscast.com/profile/jamn.html
- In a seprate report out http://gaskinsco.com/jamn-7-13.pdf. A quote that that stood out, "JAMN has been able to accomplish in the distribution side within two years what it took companies like Starbucks, Peets and Dunkin Donuts decades to accomplish."
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