DENVER -- Marley Coffee's net loss decreased to $715,000 during the second quarter, improving from a net loss of $986,000 a year earlier. The company's revenue jumped 187% to $1.6 million during the three months, ended July 31, from $559,000 in the 2012 second quarter.
For the six-month period ended July 31, Marley Coffee's net loss was $1.1 million, compared with $1.9 million in the same year-ago period. Revenue climbed 179% to $2.4 million, up from $869,000 in the first half of last year.
The coffee company said it increased retailer penetration during the recent second quarter to 7,500 locations, up from 500 at the end of the same period last year. It entered distribution with several leading supermarket chains and retail outlets, including Kroger, Safeway, Shaw's, Winn-Dixie and Best Buy/Future Shop of Canada.
During the quarter, it also secured nearly $4 million from two financial institutions to support an aggressive expansion of its flagship coffee brand. | READ MORE
Another highlight was Marley Coffee's acquisition of Denver-based Black Rock Beverage Services, expanding its business into the office coffee and foodservice markets. The company also relocated its headquarters to Denver from Los Angeles to support the new business.