Coffee Holding Co. (JVA) Gains 20% Following Year-End Results

Coffee Holding Co. (NASDAQ: JVA) jumps 19% in early trading following year-end results.

The Company had income of $2,038,938 before income taxes and non-controlling interest in subsidiary for the fiscal year ended October 31, 2018 compared to income of $976,936 for the fiscal year ended October 31, 2017, resulting in a net change of $1,062,002 for the year ended October 31, 2018.

Net sales totaled $90,655,294 for the fiscal year ended October 31, 2018, an increase of $13,527,699, or 17.5%, from $77,127,595 for the fiscal year ended October 31, 2017. This increase includes approximately $5,512,930 of net sales from the operations of Steep & Brew, which was acquired in April 2018 by Generations Coffee Company, the entity formed as a result of the Company’s joint venture with Caruso’s Coffee, Inc. Therefore, organic sales growth was $8,014,769 or 10.4%. The increase in the Company’s net sales reflects the Company’s continued increased sales of branded and private label coffee and wholesale green beans to both new and existing customers.

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