Coffee Holding Co. (JVA) Surges Higher After Swinging to Profit
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Coffee Holding Co., Inc. Reports Results for Three and Six Months Ended April 30, 2016
June 3, 2016 9:00 AM EDTSTATEN ISLAND, NY -- (Marketwired) -- 06/03/16 -- Coffee Holding Co., Inc. (NASDAQ: JVA) (the "Company") today announced its operating results for the three and six months ended April 30, 2016:
Net sales totaled $21,406,939 for the three months ended April 30, 2016, a decrease of $8,856,115, or 29.3%, from $30,263,054 for the three months ended April 30, 2015. The decrease in net sales reflects lower coffee prices during the quarter and our reduced wholesale transactions with Keurig Green Mountain, Inc. of approximately $8,158,000.
Cost of sales for the three months ended April 30, 2016 was $18,097,486, or 84.5% of net sales, as compared to $31,340,321, or 103.6% of net... More
