Business
Marley Coffee Issues Shareholder Letter to Discuss Anticipated Results of Operations for the Fiscal Year Ended January 31, 2016
Marley Coffee Issues Shareholder Letter to Discuss Anticipated Results of Operations for the Fiscal Year Ended January 31, 2016.
About this update from Jammin Java Corp.
[{"type":"text","content":"\nDENVER, Feb. 10, 2016 (GLOBE NEWSWIRE) -- Jammin Java Corp. (d/b/a Marley Coffee) (OTCQB:JAMN) (www.marleycoffee.com) (\"Marley Coffee\", \"we, \"us\" and the \"Company\"), the sustainably grown, ethically farmed and artisan-roasted gourmet coffee company has issued the following letter to its shareholders in connection with a summary of its preliminary unaudited anticipated financial results for the three months ended January 31, 2016, and the fiscal year ended January 31, 2016, as described below.\nNote from Rohan Marley, Chairman and Founder of Marley Coffee“I am very proud of the stellar performance of Marley Coffee over this last year. We have proven time and time again that we can compete against the balance sheets of the multi-billion dollar titans of the coffee world on a global scale. In this last year, we have been able to expand into almost 1/3rd of US grocery stores, help open coffee houses half way across the globe, grow our business in a meaningful way on four different continents, and launch EcoCup (a game changing piece of technology) all while adhering to the principles of sustainability and philanthropy in every move we make. Fiscally, we are now closer to turning a profit than we’ve ever been before while continuing to invest significantly in the brand to push our core messaging out. Through our tenacity, I believe we’ve shown the world and our shareholders that great things lie ahead for Marley Coffee.”Preliminary Anticipated Financial Highlights for the Fiscal Fourth Quarter and Fiscal Year Ended January 31, 2016:Financial Highlights 19 Consecutive Quarters of Revenue Growth - We anticipate gross revenues of approximately $12.3 million (M) for the fiscal year ended January 31, 2016, an increase of 29% compared to the prior year. Fourth quarter (Q4) gross revenues are anticipated to come in at ~$3.2M or a 25% increase from the prior year’s period. We anticipate net revenues to come in at ~$11.2M or a 26% increase from the prior year. We anticipate net revenues to come in at $2.9M for Q4, which represents a 32% increase from Q4 of the last fiscal year. As we improve the quality of our promotions and the management of our in-store inventory, we expect significant organic gains to revenue on existing stores as well as declining losses.Improved Gross Profits and Margins - The Compa...