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06.11.06 20:24:11
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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06.11.06 20:24:44
Coffee Holding Co., Inc. Reports Third Quarter and Nine Month Earnings
Thursday September 7, 4:02 pm ET


BROOKLYN, N.Y.--(BUSINESS WIRE)--Sept. 7, 2006--Coffee Holding Co., Inc. (AMEX:JVA - News) today announced its operating results for the three and nine months ended July 31, 2006. In this release, the Company:
Reports sales growth of 10.0% for the quarter and 30.0% for the nine month period;
Reports a $627,000 increase in net income for the quarter and a $138,000 decrease in net income for the nine month period; and
Reports net income of $0.03 per share for the quarter and $0.08 per share for the nine months ended July 31, 2006.
Net sales totaled $11.9 million for the three months ended July 31, 2006, an increase of $1.1 million, or 10.0%, from $10.8 million for the quarter ended July 31, 2005. Net sales for the nine months ended July 31, 2006 equaled $37.7 million, an increase of $8.7 million, or 30.0%, from $29.0 million during the nine months ended July 31, 2005. The increase in net sales for the three and nine month periods was due to an increase in pounds of coffee sold due to increased sales of the Company's private label, branded and specialty green coffees.

Net income was $179,000, or $0.03 per share, for the three months ended July 31, 2006 compared to a net loss of $448,000, or ($0.08) per share, for the three months ended July 31, 2005. The increase in net income primarily reflects an increase in gross profit and decreased operating expenses. Net income decreased by $138,000 to $415,000, or $0.08 per share for the nine months ended July 31, 2006 compared to $553,000, or $.12 per share, for the nine months ended July 31, 2005. The decrease in net income reflects increased cost of sales and lower margins on the Company's branded and private label products due to market conditions. A loss by the Company's Cafe La Rica joint venture also negatively impacted net income for the three and nine month periods ended July 31, 2006.

"Although outside market conditions and the overall economic landscape continue to present challenges, we are pleased with our quarterly results," said Andrew Gordon, President and Chief Executive Officer. "Our second quarter results were unacceptable therefore it was important to return to profitability this quarter. The fact that we did so in what traditionally has been our toughest quarter gives me confidence going forward that we are sticking to the game plan and getting the job done."

"Since the Cafe La Rica joint venture is a start-up operation that has been in existence for only a few months, we are not surprised or concerned by its early results which negatively impacted our earnings. Rather, we are pleased that our Florida sales numbers are significantly higher and that our leading brand Cafe Caribe can now be found on the shelves of every major grocery chain in the state. This had been one of our goals from both the outset of our initial public offering and the formation of the joint venture."

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.
CONDENSED BALANCE SHEETS
JULY 31, 2006 AND OCTOBER 31, 2005

July 31, October 31,
2006 2005
------------ ------------
(unaudited)
- ASSETS -
CURRENT ASSETS:
Cash $ 3,039,506 $ 735,468
Due from brokers 3,170,874 2,994,394
Accounts receivable, net of allowance for
doubtful accounts of $425,770 and
$420,349 for 2006 and 2005, respectively 5,067,933 5,159,576
Inventories 4,214,884 4,496,578
Prepaid expenses and other current assets 568,832 284,170
Deferred tax asset 245,000 318,600
------------ ------------
TOTAL CURRENT ASSETS 16,307,029 13,988,786

Property and equipment, at cost, net of
accumulated depreciation of $4,056,485 and
$3,727,524 for 2006 and 2005, respectively 2,208,631 2,379,952
Investment in joint ventures 614,394 -
Deposits and other assets 366,669 176,575
------------ ------------
TOTAL ASSETS $19,496,723 $16,545,313
============ ============

- LIABILITIES AND STOCKHOLDERS' EQUITY -
CURRENT LIABILITIES:
Accounts payable and accrued expenses $ 4,625,829 $ 4,431,577
Line of credit borrowings 3,562,549 1,063,167
Current portion of obligations under
capital lease - 1,329
Income taxes payable - current - 218,864
------------ ------------
TOTAL CURRENT LIABILITIES 8,188,378 5,714,937

Deferred compensation payable 225,669 135,054
Income taxes payable - deferred 26,200 53,700
------------ ------------
TOTAL LIABILITIES 8,440,247 5,903,691
------------ ------------

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
shares issued and outstanding for 2006
and 2005, respectively 5,530 5,530
Additional paid-in capital 7,327,023 7,327,023
Retained earnings 3,723,923 3,309,069
------------ ------------
TOTAL STOCKHOLDERS' EQUITY 11,056,476 10,641,622
------------ ------------
TOTAL LIABILITIES AND
STOCKHOLDERS' EQUITY $19,496,723 $16,545,313
============ ============



COFFEE HOLDING CO., INC.
CONDENSED STATEMENTS OF OPERATIONS
NINE AND THREE MONTHS ENDED JULY 31, 2006 AND 2005
(Unaudited)

Nine Months Ended Three Months Ended
July 31, July, 31
2006 2005 2006 2005
------------ ------------ ------------ ------------
NET SALES $37,714,354 $29,016,190 $11,858,581 $10,782,680

COST OF SALES 32,584,566 23,657,607 9,916,930 9,749,222
------------ ------------ ------------ ------------

GROSS PROFIT 5,129,788 5,358,583 1,941,651 1,033,458
------------ ------------ ------------ ------------

OPERATING EXPENSES:
Selling and
administrative 3,916,707 3,801,669 1,414,412 1,420,090
Bad debt
expense 5,421 270,000 5,421 270,000
Officers'
salaries 408,155 399,271 135,975 135,975
------------ ------------ ------------ ------------
TOTALS 4,330,283 4,470,940 1,555,808 1,826,065
------------ ------------ ------------ ------------

INCOME (LOSS) FROM
OPERATIONS 799,505 887,643 385,843 (792,607)
------------ ------------ ------------ ------------

OTHER INCOME
(EXPENSE)
Interest income 90,907 25,426 33,618 18,219
Equity in loss of
joint venture (74,611) - (69,289) -
Interest expense (80,951) (88,130) (42,726) (24,908)
------------ ------------ ------------ ------------
(64,655) (62,704) (78,397) (6,689)
------------ ------------ ------------ ------------

INCOME (LOSS)
BEFORE INCOME
TAXES 734,850 824,939 307,446 (799,296)

(Provision)
benefit for
income taxes (319,996) (272,179) (127,996) 351,421
------------ ------------ ------------ ------------

NET INCOME (LOSS) $ 414,854 $ 552,760 $ 179,450 $ (447,875)
============ ============ ============ ============

Basic and diluted
earnings (loss)
per share $ .08 $ .12 $ .03 $ (.08)
============ ============ ============ ============



COFFEE HOLDING CO., INC.
CONDENSED STATEMENTS OF CASH FLOWS
NINE MONTHS ENDED JULY 31, 2006 AND 2005
(Unaudited)

2006 2005
------------- ------------
OPERATING ACTIVITIES:
Net income $ 414,854 $ 552,760
Adjustments to reconcile net income to
net cash provided by (used in)
operating activities:
Depreciation and amortization 328,962 281,409
Bad debts 5,421 270,000
Deferred taxes 46,100 (77,000)
Loss from joint venture 74,611 -
Changes in operating assets and
liabilities:
Due from brokers (176,480) (1,281,036)
Accounts receivable 86,222 (334,705)
Inventories 281,694 (1,301,542)
Prepaid expenses and other current
assets (284,662) 266,425
Accounts payable and accrued
expenses 194,252 (1,977,786)
Other assets (99,479) -
Income taxes payable (218,864) (160,000)
------------- ------------
Net cash provided by (used in) operating
activities 652,631 (3,761,475)
------------- ------------

INVESTING ACTIVITIES:
Purchases of property and equipment (157,641) (357,936)
Security deposits - (8,025)
Investment in joint ventures (689,005) -
------------- ------------
Net cash (used in) investing activities (846,646) (365,961)
------------- ------------

FINANCING ACTIVITIES:
Principal payments on term loan - (252,000)
Advances under bank line of credit 31,322,458 17,315,427
Net proceeds from IPO - 6,436,016
Principal payments under bank line of
credit (28,823,076) (18,672,311)
Principal payments of obligations under
capital leases (1,329) (107,699)
------------- ------------
Net cash provided by financing activities 2,498,053 4,719,433
------------- ------------

NET INCREASE IN CASH 2,304,038 591,997

Cash, beginning of year 735,468 642,145
------------- ------------

CASH, END OF PERIOD $ 3,039,506 $ 1,234,142
============= ============

SUPPLEMENTAL DISCLOSURE OF CASH FLOW DATA:
Interest paid $ 36,034 $ 81,495
============= ============
Income taxes paid $ 269,784 $ 297,145
============= ============



Contact:
Coffee Holding Co., Inc.
Andrew Gordon, 718-832-0800

--------------------------------------------------------------------------------
Source: Coffee Holding Co., Inc.
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07.11.06 20:28:35
Coffee Holding Co., Inc. Announces the Award of Two Businesses
Tuesday November 7, 2:10 pm ET


BROOKLYN, NY--(MARKET WIRE)--Nov 7, 2006 -- Coffee Holding Co. (AMEX:JVA - News) announced that they will begin supplying Raleys, an upscale Northern California chain of 138 stores, with their canned Private Label coffee. Coffee Holding was awarded a 2-year contract for Raleys canned private label products back in January 2006 with the first shipment to be made this month. On a similar front, Coffee Holding Co. has announced that they were awarded the Price Chopper Ground Private Label canned coffee business this week. The contract for Price Chopper will be for at least one year and includes both their first and second tier canned coffee product lines. Price Chopper is a leading retailer in the Northeast with 115 stores in the area.
About Coffee Holding Co.

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. Coffee Holding'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 Coffee Holding's Securities and Exchange Commission filings. Coffee Holding undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.



Contact:
Contact:
Andrew Gordon
President & CEO
Telephone: (718) 832-0800



--------------------------------------------------------------------------------
Source: Coffee Holding Co., Inc.
Avatar
19.03.07 14:57:59
Coffee Holding Co., Inc. Reports First Quarter Earnings
Monday March 19, 9:07 am ET


BROOKLYN, NY--(MARKET WIRE)--Mar 19, 2007 -- Coffee Holding Co., Inc. (AMEX:JVA - News) today announced its operating results for the three months ended January 31, 2007. In this release, the Company:

-- Reports net sales of $12,635,112 for the three months ended January
31, 2007;

-- Reports net income of $309,684 for the three months ended January 31,
2007; and

-- Reports net income of $0.06 per share (basic and diluted) for the
three months ended January 31, 2007.
ADVERTISEMENT


Net income was $309,684, or $.06 per share (basic and diluted), for the three months ended January 31, 2007 compared to net income of $519,638, or $.09 per share (basic and diluted), for the three months ended January 31, 2006. The decrease primarily reflects losses related to our Café La Rica joint venture, including a $63,939 equity loss, a $33,000 writedown in the investment in the joint venture and a $242,000 writedown in amounts due from the joint venture. These losses reduced our net income by $338,939, or $0.04 per share, for the three months ended January 31, 2007.

"An overall strong quarter was tarnished once again by the disappointing situation with our Florida joint venture," said Andrew Gordon, President and Chief Executive Officer. "As a result, we have chosen to dissolve the joint venture and must now attempt to recoup our assets. However, once this problem is resolved, we will explore other avenues to build our Florida and southeast business base."

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.
CONDENSED CONSOLIDATED BALANCE SHEETS
JANUARY 31, 2007 AND OCTOBER 31, 2006


January 31, October 31,
2007 2006
------------ ------------
(unaudited)
- ASSETS -
CURRENT ASSETS:
Cash $ 1,827,523 $ 1,112,165
Commodities held at broker 2,954,528 4,330,489
Accounts receivable, net of allowance for
doubtful accounts of $420,349 for 2007 and
2006, respectively 4,343,394 6,534,848
Inventories 3,461,025 2,899,543
Prepaid expenses and other current assets 244,182 328,544
Prepaid and refundable taxes 45,331 302,003
Deferred tax asset 442,000 221,000
------------ ------------

TOTAL CURRENT ASSETS 13,317,983 15,728,592

Property and equipment, at cost, net of
accumulated depreciation of $4,219,039 and
$4,159,274 for 2007 and 2006, respectively 2,170,413 2,138,951
Investment in joint venture 311,858 408,798
Due from joint venture, less reserve of $242,000 289,890 73,658
Deposits and other assets 803,019 631,859
------------ ------------
TOTAL ASSETS $ 16,893,163 $ 18,981,858
============ ============

- LIABILITIES AND STOCKHOLDERS' EQUITY -
CURRENT LIABILITIES:
Accounts payable and accrued expenses $ 3,961,239 $ 4,828,689
Line of credit borrowings 985,219 2,542,881
------------ ------------

TOTAL CURRENT LIABILITIES 4,939,630 7,371,570

Deferred income tax liabilities 4,100 12,300
Deferred compensation payable 291,217 256,284
------------ ------------

TOTAL LIABILITIES 5,241,775 7,640,154
------------ ------------

MINORITY INTEREST - -

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
shares issued and outstanding for 2007 and
2006 5,530 5,530
Additional paid-in capital 7,327,023 7,327,023
Retained earnings 4,318,835 4,009,151
------------ ------------

TOTAL STOCKHOLDERS' EQUITY 11,651,388 11,341,704
------------ ------------
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 16,893,163 $ 18,981,858
============ ============




COFFEE HOLDING CO., INC.
CONDENSED CONSOLIDATED STATEMENTS OF INCOME
THREE MONTHS ENDED JANUARY 31, 2007 AND 2006
(Unaudited)



2007 2006
------------- -------------
NET SALES $ 12,635,112 $ 13,844,845

COST OF SALES 10,466,517 11,519,402
------------- -------------

GROSS PROFIT 2,168,595 2,325,443
------------- -------------

OPERATING EXPENSES:
Selling and administrative 1,390,690 1,282,837
Writedown of amount due from joint venture 242,000 -
Officers’ salaries 117,012 135,975
------------- -------------
TOTALS 1,749,702 1,418,812
------------- -------------

INCOME FROM OPERATIONS 418,893 906,631
------------- -------------

OTHER INCOME (EXPENSE)
Interest income 34,116 30,566
Equity in loss of joint venture (63,939) -
Writedown of investment in joint venture (33,000) -
Management fee income 12,026 -
Interest expense (24,232) (15,459)
------------- -------------
(75,029) 15,107
------------- -------------

INCOME BEFORE INCOME TAXES AND MINORITY
INTEREST IN SUBSIDIARY 343,864 921,738

Provision for income taxes 37,850 402,100
------------- -------------

INCOME BEFORE MINORITY INTEREST 306,014 -

Minority interest in subsidiary 3,670 -
------------- -------------

NET INCOME $ 309,684 $ 519,638
============= =============

Basic and diluted earnings per share $ .06 $ .09
============= =============

Weighted average common shares outstanding:
Basic 5,529,830 5,529,830
============= =============
Diluted 5,599,830 5,593,250
============= =============




COFFEE HOLDING CO., INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
THREE MONTHS ENDED JANUARY 31, 2007 AND 2006
(Unaudited)



2007 2006
----------- -----------
OPERATING ACTIVITIES:
Net income $ 309,684 $ 519,638
Adjustments to reconcile net income to net cash
provided by (used in) operating activities:
Depreciation and amortization 60,630 112,817
Writedown of amount due from joint venture 242,000 -
Loss from joint venture 63,939 -
Writedown of investment in joint venture 33,000 -
Deferred taxes (229,200) 29,300
Changes in operating assets and liabilities:
Commodities held at broker 1,375,961 321,531
Accounts receivable 1,916,454 754,940
Inventories (561,482) 1,039,687
Prepaid expenses and other assets 84,362 (64,734)
Prepaid and refundable income taxes 256,672 -
Accounts payable and accrued expenses (867,450) (1,038,711)
Deferred compensation payable - 33,981
Due from joint venture (183,232) -
Deposits and other assets (136,227) -
Income taxes payable - 69,250
----------- -----------

Net cash provided by operating activities 2,365,111 1,777,699
----------- -----------

INVESTING ACTIVITIES:
Purchases of property and equipment (92,091) (74,196)
----------- -----------

Net cash (used in) investing activities (92,091) (74,196)
----------- -----------

FINANCING ACTIVITIES:
Advances under bank line of credit 11,103,226 10,317,070
Principal payments under bank line of credit (12,660,888) (10,909,112)
Principal payments of obligations under capital
leases - (1,329)
----------- -----------

Net cash used in financing activities (1,557,662) (593,371)
----------- -----------


NET INCREASE IN CASH 715,358 1,110,132

Cash, beginning of year 1,112,165 735,468
----------- -----------

CASH, END OF PERIOD $ 1,827,523 $ 1,845,600
=========== ===========

SUPPLEMENTAL DISCLOSURE OF CASH FLOW DATA:
Interest paid $ 18,642 $ 13,176
=========== ===========
Income taxes paid $ 3,550 $ 299,321
=========== ===========



Contact:
Contact:
Andrew Gordon
President & CEO
Telephone: (718) 832-0800



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


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