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Coffee Holding reports Q3 EPS 11c vs. (2c) last year
Reports Q3 revenue $18.8M vs. $15.8M last year. "We are pleased to deliver a strong third quarter performance to our shareholders" said Andrew Gordon, President and CEO of Coffee Holding Company. Our efforts over the last several months are now being reflected in our results. The addition of new customers for our private label business along with renewed growth of our flagship Cafe Caribe Brand have led the way to the strong growth in sales which I referred to in the company update which we issued at the beginning of 2024. In addition, we have paid down our line of credit by over $7 million during the last nine months, resulting in a savings of over $150,000 in interest expense. As of today, we have a zero-balance outstanding on our line of credit and I expect we will be able to maintain a similar level of borrowings over the next several periods as I believe we will continue to have positive cash flow from our operations. Annualized, these savings would translate into approximately $.10 a share in pretax earnings. Lastly, with the termination of the Delta transaction, we are determined to see a higher price for our stock that is commensurate with the true value of our company," concluded Mr. Gordon.