Coffee Holding Q2 net sales up 14% but records net loss of $0.06 per share on Steep N Brew losses

COFFEE HOLDING CO INC

Net sales $16.5M, up 14% YoY; net loss $368K vs net income $357K last year.
Gross margin fell to 12.1% from 26.1%; $718K inventory write-off at Steep N Brew.
Operating loss at Generations/Steep N Brew division $508K (net of tax) or $0.09 per share.
CEO plans restructuring of Steep N Brew; focus on green coffee and private label.
EPS $(0.06) basic/diluted vs $0.06 prior year.

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