Coffee Holding Posts Q3 Loss

(RTTNews) - Coffee Holding Co. Inc. (JVA) reported that its third-quarter net loss attributable to the company was $2.11 million, or $0.33 per share compared to net income of $1.23 million or $0.19 per share in the year ago quarter.

Net sales totaled $32.37 million, a decrease of 27%, from $44.48 million last year. The decrease in net sales reflected lower coffee prices as coffee prices continued to decrease on an unabated slide to a four year low during the same period, partially offset by a 13.7% increase in pounds of green coffee sold as the Company's business continued to shift to sales of green coffee from private label sales.