Friday, Coffee Holding Co (NASDAQ: JVA) reported its second-quarter results after market close.
The firm recorded earnings of $0.05 per share, down from $0.11 per share for the year-ago period.
Coffee Holding announced quarterly sales of $22.13 million, which fell 5.1 percent compared to the previous year.
For the second quarter, gross profit as a percentage of net sales was 15.8 percent, slightly down from 16.0 percent a year earlier.
Andrew Gordon, President and CEO, commented, “Our second quarter results were severely impacted by the steady and rapid decline in the green coffee market which began in the final week of January and continued unabated for the entire quarter.”
