JERSEY CITY, NJ / ACCESSWIRE / May 1, 2017 / MOJO Organics, Inc. (MOJO) today reported its first quarter 2017 operating results. Glenn Simpson, Chairman and Chief Executive Officer of MOJO Organics, Inc. said "we are pleased to report that we ended our 2017 first quarter within our expectations. We continued to focus on increasing our points of sale and methods of distribution primarily in the northeast region and made significant progress in distribution and store count."
Revenue was $241,960, a decrease of $8,752 from the same period last year. Gross profit was $98,166, a decrease of $6,412 from the same period last year. The decrease in revenue was due to promotional costs incurred in opening new accounts. Had we not incurred these one-time charges, revenue would have been higher than the same period last year.
"In addition to meeting our revenue and gross profit targets for the quarter, I am encouraged by the number of new customers we were able to gain during the quarter. The progress demonstrated during this quarter is foundational in positioning the company for the future."
For additional information please contact MOJO Organics, Inc. at 201 633 6519
SOURCE: MOJO Organics, Inc.