Coffee Holding jumps on strong Q3 results

Coffee Holding

14/09/2022 22:26

** Shares in coffee roaster Coffee Holding Co Inc  JVA.O  up
~10% at $2.72 after the bell
    ** Company's Q3 net sales up 24.8% to $17 mln, helped by
strong demand from existing customers and from addition of new
customers  urn:newsml:reuters.com:*:nGNXbb9fW3
    ** JVA posts Q3 net income of $132,381, or 2 cents/share,
compared with a net loss of $127,051, or 2 cents/share, a year
earlier 
    ** However, CEO Andrew Gordon says company expects increase
in transportation costs to continue to weigh on profitability in
the immediate future 
    ** Up to Wednesday's close, stock had fallen ~43% this year

 (Reporting by Ananya Mariam Rajesh in Bengaluru)
 ((AnanyaMariam.Rajesh@thomsonreuters.com ; Twitter: https://twitter.com/AnanyaMariam))