Jones Soda down to 80 Cents per Share

Jones Soda Co. (NASDAQ:JSDA) shares lost 16% on Friday and are now trading at just 80 Cents.  Investors bailed on Jones after the company reported a Q2 $2 millon loss and issued a warning going forward.

This past week Jones Soda Inc. reported a Q2 loss of $2 million, or a loss of 7 cents per share, which compares with a loss of $2.7 million, or a loss of 10 cents per share a year earlier.  Revenue dived down to $7.5 million from $11.7 million in 2008.  Jones attributed the big decline in revenue to their decision to discontinue glass bottles at some major retailers and outlets.  They added that further cost-cutting will be necessary in the near future.

“Due to the volatile economic environment and its potential impact on future sales and the limited ability the company will have to further reduce costs beyond the measures planned for the third quarter, the company plans to disclose a going concern uncertainty in the liquidity section of its Form 10-Q for the quarter ... to be filed with the Securities and Exchange Commission on Aug. 10,” they wrote in a statement.

Analysts polled by Thomson Reuters First Call only expected a loss of 6 cents per share and revenues of $13.2 million. In after-hours trading on Thursday, shares in Jones Soda had fallen more than 15 percent, dropping 15 cents to 81 cents per share.

The last time Jones Soda shares got down to 80 Cents was back in April after recovering to $1.40 a few weeks later.  Jones has lost the attention of Wall Street, the last time any upgrades/downgrades were issued on JSDA shares was back in May of 2008.  A reverse stock split could help Jones get their share price under control, let's hope the company can take care of the rest and put Jones back on the road to profitability.

DISCLAIMER: NO POSITIONS IN JSDA.