Coffee Holding Co., Inc. Reports an Approximately 25% Increase in Net Sales During Third Quarter of 2022
Retrieved on:
Wednesday, September 14, 2022
Net sales totaled $17,013,286 for the three months ended July 31, 2022, an increase of $3,378,973, or 24.8%, from $13,634,313 for the three months ended July 31, 2021.
Key Points:
- Net sales totaled $17,013,286 for the three months ended July 31, 2022, an increase of $3,378,973, or 24.8%, from $13,634,313 for the three months ended July 31, 2021.
- The increase in net sales was due to an increase of sales to the Companys legacy customers along with incremental sales to several significant new customers in the quarter.
- Cost of sales for the three months ended July 31, 2022 was $13,867,710, or 81.5% of net sales, as compared to $10,708,461, or 78.5% of net sales, for the three months July 31, 2021.
- The increase in cost of sales was due to the Companys increased sales to its customers, increased prices of green coffee and packaging materials.