Equator Beverage Co. (MOJO)

[tom york]

MOJO Organics, Inc. Reports 2018 Second Quarter Results

PR Newswire•July 16, 2018


JERSEY CITY, N.J., July 16, 2018 /PRNewswire/ -- MOJO Organics, Inc. (MOJO) today reported its second quarter 2018 operating results and filed its Form 10-Q with the Securities Exchange Commission. Glenn Simpson, Chairman and Chief Executive Officer of MOJO Organics, Inc. said, "We are pleased to report that we ended our 2018 second quarter within our expectations. This was the third consecutive quarter of double digit revenue growth. We continued to focus on increasing our points of sale and building out our hybrid distribution system primarily in the northeast region of the United States."

In addition to the northeast region of the United States, we began shipments to Aruba and appointed Galactus Global, N.V. as our distributor for Aruba, Bonaire and Curacao. We are also in the final governmental approval stage to export our products to Costa Rica. We have also begun to sell product to a distributor who distributes in Puerto Rico & Florida.
Revenue for the quarter was $442,422 an increase of $98,345 from the same period last year. Gross profit was $200,370 an increase of $82,004 from the same period last year. The increase in revenue was due primarily to increases in same store sales from the prior period and new points of distribution.
In addition to meeting our revenue and gross profit targets for the quarter, I am very pleased to report that we reduced our net loss for the period from $912,328 to $46,805 – an $865,523 improvement.
We also saw our ecommerce business double for the period as compared to last year. This was primarily the result of Amazon sales being strong with larger purchases and the addition of new customers.
We have also made progress with our Sparkling Coconut Water. MOJO will launch a second flavor of coconut water in the third quarter of 2018 at select retailers and on Amazon.
For additional information please contact MOJO Organics, Inc. at 201 633 6519. Stock Symbol: MOJO.