Hot Mama's Foods, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2013
November 26, 2013 at 08:30 am EST
Share
Hot Mama's Foods, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2013. For the quarter, the company reported net revenues of $8,978,000 against $7,863,000 a year ago. Loss from operations was $1,560,000 against income from operations of $353,000 a year ago. Loss before income taxes was $1,600,000 against income before income taxes of $321,000 a year ago. Net loss attributable to the company was $1,025,000 or $0.05 basic and diluted per share against net income attributable to the company of $192,000 or $0.01 basic and diluted per share a year ago. Sales continue to be driven by the Hummus product line which accounted for 71% of revenue, up from 68% in third quarter 2012. Higher volumes reflect effective marketing campaigns as well as increased customer demand for its higher quality products. Looking ahead, revenue growth will be driven by additional product offerings as well as increased sales to existing customers.
For the nine months, the company reported net revenues of $25,668,000 against $21,915,000 a year ago. Loss from operations was $1,698,000 against income from operations of $696,000 a year ago. Loss before income taxes was $1,798,000 against income before income taxes of $595,000 a year ago. Net loss attributable to the company was $1,132,000 or $0.06 basic and diluted per share against net income attributable to the company of $353,000 or $0.02 basic and diluted per share a year ago. Revenue growth has been driven by increased market penetration, additional product offerings as well as promotional and marketing efforts.
Hot Mama's Foods Inc. is engaged in manufacturing gourmet pepper jellies and sauces with Caribbean flavor. The Companyâs product category includes Pepper Jellies, BBQ Sauces, Hot Sauces, Rubs & Spices, Gifts & More, Mustards & Ketchups, Crazy Mooskies, Squeezies, Ice Screamers, Apparel and Jams. The Companyâs products include Blueberry Ice Screamers, Cafe Mocha Spicy Ice Screamer, Hot Mamas Chili Lime Spice-No Salt, Hot mamas Mini Hot Sauce Gift Set, Pineapple Ice Screamers, Rum & Raisin Ice Screamers and Strawberry Ice Screamers. It also provides Hot Mamas Spicy Cranberry Jelly 265 ml, Hot Mamas Spicy Wild Blueberry Jelly 265 ml, Hot Mamas Spicy Mango Pepper Jelly 265 ml, Hot Mamas Spicy Horseradish Jelly 265 ml, Hot Mamas Spiced Apple Pepper Jelly 265 ml, Hot Mamas Spicy Roasted Garlic Pepper Jelly 265 ml and others. The Jams products include Hot Mamas Haskap Berry Jam, Hot Mamas Wild Blueberry Jam, Hot Mamas Raspberry Jam and Hot Mamas Strawberry Rhubarb Jam.