earnings
confidence high
sentiment negative
materiality 0.70
Coffee Holding Q3 net loss $0.02/shr; nine-month net income up to $0.16/shr
COFFEE HOLDING CO INC
- Net loss of $127K ($0.02/shr) for Q3 vs. net income of $391K ($0.07/shr) a year ago.
- Nine-month net income $907K ($0.16/shr), up from $290K ($0.05/shr) prior year.
- Q3 sales fell 21.3% to $13.6M, driven by 35% decline in Colorado facility output and Steep N Brew reorganization.
- Gross margin for Q3 was 21.5% vs. 22.1% prior year; higher packaging and green coffee costs cited.
- CEO expects green coffee rally and price increases to boost Q4; targets dividend of 33% of net profits.