Coffee Holding Co. (JVA) - 500 Beiträge pro Seite

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Profile:Coffee Holding Co., Inc. operates as an integrated wholesale coffee roaster and dealer in the United States. The company offers its products in three categories: wholesale green coffee, private label coffee, and branded coffee. Wholesale green coffee product category consists of unroasted raw beans imported from worldwide, and sold to roasters and coffee shop operators. Private label coffee product category includes coffee roasted, blended, packaged, and sold under the specifications and names of others. Branded coffee product category comprises coffee roasted and blended to the company’s own specifications, and packaged and sold under its seven brand names in various segments of the market. The company’s unprocessed green coffee includes approximately 70 types of coffee and is sold to specialty gourmet roasters. It also offers trial-sized minibrick coffee packages, specialty instant coffees, instant cappuccinos and hot chocolates, and tea line products. The company markets its private label and wholesale coffee through trade shows, industry publications, sales force, and nonexclusive independent food and beverage sales brokers to supermarkets, wholesalers, and individually owned and multi unit retail customers. Its proprietary brands for specialty espresso, Latin espresso, Italian espresso, Colombian coffee, and blended coffee are sold to supermarkets, wholesalers, and individually-owned stores in the United States. Coffee Holding Co. was founded in 1971 and is headquartered in Brooklyn, New York.

http://www.coffeeholding.com/

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Coffee Holding Co., Inc. Reports Fiscal Year 2005 Results
Wednesday January 18, 3:50 pm ET


BROOKLYN, NEW YORK--(MARKET WIRE)--Jan 18, 2006 -- Coffee Holding Co., Inc. (AMEX:JVA - News) today announced its operating results for the fourth quarter and fiscal year ended October 31, 2005. In this release, the Company:
-- Reports sales growth of 32.5% for the quarter and 48.2% for the year;

-- Announces an increase in net income of 140.6% for the quarter and
35.4% for the year; and

-- Reports net income of $0.11 per share for the quarter and $0.25 per
share for the year.
ADVERTISEMENT





Net income increased $370,000, or 140.6%, to $632,000 or $0.11 per share, for the quarter ended October 31, 2005 compared to $263,000, or $0.07 per share, for the quarter ended October 31, 2004. Net income increased $310,000, or 35.4%, to $1.2 million or $0.25 per share, for the year ended October 31, 2005 compared to $875,000 or $0.22 per share, for the year ended October 31, 2004. The increase in net income primarily reflects an increase in net sales, partially offset by an increase in cost of sales. The increase in net sales primarily reflects increased sales of green coffee.

"We are pleased with our incremental quarter to quarter growth and anticipate additional revenue growth in 2006," said Andrew Gordon, President and Chief Executive Officer. "Our overall business base continues to broaden and we continue to experience growth in green coffee sales, private label coffee sales and branded coffee sales, all three of our primary lines of business."

"We are extremely excited about the continued growth for our flagship brand, Café Caribe, during fiscal year 2005 as both new customers and new markets were added during this period. Year to year sales of our most important brand increased over 20% for the second consecutive year."

"While we were unable to complete an acquisition during 2005, we are hopeful that we will be able to take advantage of strategic opportunities in the near future."

About Coffee Holding

Coffee Holding is a leading integrated wholesale coffee roaster and dealer in the United States and one of the few coffee companies that offers a broad array of coffee products across the entire spectrum of consumer tastes, preferences and price points. Coffee Holding has been a family operated business for three generations and has remained profitable through varying cycles in the coffee industry and the economy. The Company`s private label and branded coffee products are sold through the United States, Canada and abroad to supermarkets, wholesalers, and individually owned and multi unit retail customers.

Any statements that are not historical facts contained in this release are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. It is possible that the assumptions made by management for purposes of such statements may not materialize. Actual results may differ materially from those projected or implied in any forward-looking statements. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, the effect of economic conditions, intellectual property rights, the outcome of competitive products, risks in product development, the results of financing efforts, the ability to complete transactions, and other factors discussed from time to time in the Company`s Securities and Exchange Commission filings. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.

COFFEE HOLDING CO., INC.
BALANCE SHEETS
OCTOBER 31, 2005 AND 2004

2005 2004
----------- -----------
- ASSETS -
CURRENT ASSETS:
Cash $ 735,468 $ 642,145
Due from broker 2,994,394 873,901
Accounts receivable, net of allowance
for doubtful accounts of $420,349 and
$150,349 for 2005 and 2004,
respectively 5,159,576 4,005,755
Inventories 4,496,578 2,258,289
Prepaid expenses and other current assets 419,224 676,395
Deferred tax asset 318,600 136,900
----------- -----------
TOTAL CURRENT ASSETS 14,123,840 8,593,385

Property and equipment, at cost, net of
accumulated depreciation of $3,727,524
and $3,354,418 for 2005 and 2004,
respectively 2,379,952 2,286,936
Deposits and other assets 41,521 33,496
----------- -----------
TOTAL ASSETS $16,545,313 $10,913,817
=========== ===========
- LIABILITIES AND STOCKHOLDERS` EQUITY -
CURRENT LIABILITIES:
Accounts payable and accrued expenses $ 4,431,577 $ 4,658,836
Current portion of term loan - 252,000
Current portion of obligations under
capital lease 1,329 111,060
Line of credit borrowings 1,063,167 2,685,045
Income taxes payable - current 218,864 160,000
----------- -----------
TOTAL CURRENT LIABILITIES 5,714,937 7,866,941
----------- -----------
Obligations under capital lease,
net of current portion - 5,855
Income taxes payable - deferred 53,700 45,200
Deferred compensation payable 135,054 -
----------- -----------
TOTAL LIABILITIES 5,903,691 7,917,996
=========== ===========

COMMITMENTS AND CONTINGENCIES

STOCKHOLDERS` EQUITY:
Preferred stock, par value $.001
per share; 10,000,000 shares
authorized; none issued - -
Common stock, par value $.001
per share; 30,000,000 shares
authorized, 5,529,830 and 3,999,650
shares issued and outstanding for
2005 and 2004, respectively 5,530 4,000
Additional paid-in capital 7,327,023 867,887
Retained earnings 3,309,069 2,123,934
----------- -----------
TOTAL STOCKHOLDERS` EQUITY 10,641,622 2,995,821
----------- -----------
TOTAL LIABILITIES AND STOCKHOLDERS`S EQUITY $16,545,313 $10,913,817
=========== ===========


COFFEE HOLDING CO., INC.
CONDENSED STATEMENTS OF INCOME
THREE AND TWELVE MONTHS ENDED OCTOBER 31, 2005 AND 2004

(Unaudited)
Twelve Months Ended Three Months Ended
October 31, October 31,
2005 2004 2005 2004
----------- ----------- ----------- -----------
NET SALES $41,545,345 $28,030,389 $12,529,155 $ 9,452,861

COST OF SALES 33,875,973 20,927,506 10,218,366 7,034,811
----------- ----------- ----------- -----------

GROSS PROFIT 7,669,372 7,102,883 2,310,789 2,418,050
----------- ----------- ----------- -----------

OPERATING EXPENSES:
Selling and
administrative 4,854,018 4,746,895 1,052,349 1,655,785
Bad Debt Expense 270,000 30,914 - 30,914
Officers` salaries 574,245 622,573 174,974 252,149
----------- ----------- ----------- -----------
TOTALS 5,698,263 5,400,382 1,227,323 1,938,848
----------- ----------- ----------- -----------

INCOME FROM OPERATIONS 1,971,109 1,702,501 1,083,466 479,202
----------- ----------- ----------- -----------

OTHER INCOME (EXPENSE)
Interest income 50,363 11,966 24,937 2,771
Interest expense (110,684) (145,930) (22,554) (8,084)
----------- ----------- ----------- -----------
(60,321) (133,964) 2,383 (5,313)
----------- ----------- ----------- -----------

INCOME BEFORE INCOME
TAXES 1,910,788 1,568,537 1,085,849 473,889

Provision for income
taxes 725,653 693,195 453,474 211,095
----------- ----------- ----------- -----------

NET INCOME $ 1,185,135 $ 875,342 $ 632,375 $ 262,794
=========== =========== =========== ===========

Basic and diluted
earnings per share $ .25 $ .22 $ .11 $ .07
=========== =========== =========== ===========

Weighted average
common shares
outstanding:
Basic 4,721,327 3,999,650 5,529,830 3,999,650
=========== =========== =========== ===========
Diluted 4,776,757 3,999,650 5,577,167 3,999,650
=========== =========== =========== ===========


COFFEE HOLDING CO., INC.
STATEMENTS OF CASH FLOWS
YEARS ENDED OCTOBER 31, 2005 AND 2004

2005 2004
----------- -----------
OPERATING ACTIVITIES:
Net income $ 1,185,135 $ 875,342
Adjustments to reconcile net
income to net cash (used in)
provided by operating
activities:
Depreciation and
amortization 373,106 363,612
Bad debts 270,000 30,914
Deferred taxes (173,200) (27,200)
Changes in operating
assets and liabilities:
Due from broker (2,120,493) 20,222
Accounts receivable (1,423,821) (1,881,986)
Inventories (2,238,289) (476,865)
Prepaid expenses and
other current assets 551,929 (244,963)
Accounts payable and
accrued expenses (227,259) 2,797,389
Income taxes payable 58,864 160,000
Deferred compensation payable (135,054) -
----------- -----------
Net cash (used in) provided
by operating activities (3,879,082) 1,616,465
----------- -----------


INVESTING ACTIVITIES:
Purchases of property

and equipment (466,122) (1,039,479)
Security deposits (8,025) (16,700)
----------- -----------
Net cash (used in)
investing activities (474,147) (1,056,179)
----------- -----------

FINANCING ACTIVITIES:
Principal payments
on term loan (252,000) (84,000)
Net proceeds from IPO 6,436,016 -
Advances under bank
line of credit 27,754,052 28,108,814
Principal payments under
bank line of credit (29,375,930) (27,715,835)
Principal payments of
obligations under
capital leases (115,586) (221,306)
Payments to related parties - (79,646)
----------- -----------
Net cash provided by
financing activities 4,446,552 8,027
----------- -----------


NET INCREASE IN CASH 93,323 568,313

Cash, beginning of year 642,145 73,832
----------- -----------
CASH, END OF YEAR $ 735,468 $ 642,145
=========== ===========

SUPPLEMENTAL DISCLOSURE
OF CASH FLOW DATA:
Interest paid $ 103,286 $ 145,930
=========== ===========
Income taxes paid $ 460,744 $ 370,850
=========== ===========
On June 10, 2005, 10,000 shares of restricted stock valued at $24,650 were issued for services to be rendered.



Contact:
Press Contact:
Coffee Holding Company, Inc.
Andrew Gordon
[phone]
http://www.coffeeholding.com

or

Investor Contact:
Aurelius Consulting Group
Sanford Diday or Dave Gentry
[phone]
Email Contact
http://www.runonideas.com



--------------------------------------------------------------------------------
Source: Coffee Holding Co., Inc.

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