Coffee Holding Co. Reports Profit In Q2 - Quick Facts

(RTTNews) - Coffee Holding Co., Inc. (JVA) reported second-quarter profit of $1.26 million or $0.19 per share, compared to a loss of $395 thousand or $0.06 per share, last year.

Net sales declined to $25.40 million from $36.69 million. The company said the decrease in net sales primarily reflected a decrease of 20% in pounds of green coffee sold during the quarter as compared to the quarter ended April 30, 2013.

Andrew Gordon, CEO, Coffee Holding Co., said: "We are pleased to report that our gross profit for the three months ended April 30, 2014 increased by 186% as compared to the same quarter of 2013 as our continued efforts on margin expansion were aided by the increase in green coffee commodity prices during the recent quarter. However, these same increases had a surprisingly negative effect on revenues due to the rapid rise in the green coffee market."