MOJO Organics, Inc. Reports 2017 Third Quarter Results

JERSEY CITY, N.J., Nov. 6, 2017 /PRNewswire/ -- MOJO Organics, Inc. (OTC: MOJO) has reported its third quarter 2017 operating results.   Glenn Simpson, Chairman and Chief Executive Officer of MOJO Organics, Inc. said, "We are pleased to report that we ended our 2017 third quarter within our expectations. We continued to focus on increasing our points of sale and methods of distribution primarily in the northeast region and southeast region.  We made significant progress in distribution and store count during the three-month period." In addition, we have now started selling to Kroger the largest USA grocer.

Revenue for the three-month period was $439,560 a decrease of $71,098 from the same period last year. The decrease in revenue was due to MOJO transitioning to the MOJO brand from private label business offset by an increase in MOJO branded business.   

Gross profit was $187,251, a decrease of $24,801 from the same period last year.  The net loss for the period decreased to $18,778 from $97,937 for the same period last year. This improvement of $81,567 or 539 percent was primary due to a decrease in expenses of a non-recurring nature.

"In addition to meeting our revenue and gross profit targets and percentages for the quarter, I am pleased by the number of new customers we were able to gain during the quarter.   The progress demonstrated during this quarter is foundational in positioning the company for the future."

For additional information please contact MOJO Organics, Inc. at 201 633 6519.

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SOURCE MOJO Organics, Inc.