Coffee Holding - JVA STOCK NEWS

Coffee Holding Co. (JVA) reported strong financial results for fiscal year 2024, marking its third-best yearly performance in 20 years as a public company. Net sales increased by 15% compared to fiscal 2023, while gross margins improved from 16% to 20%. The company achieved a net income of $2,245,132 ($0.39 per share), compared to a net loss of ($835,576) (-$0.15 per share) in 2023.

With coffee prices remaining above $2.00/lb throughout most of 2024, the company successfully leveraged its horizontally-integrated product mix. Despite challenges from rising commodity prices and delayed price increases to customers, JVA strengthened its balance sheet by reducing debt and renegotiating its Staten Island office lease, resulting in annual savings of $72,000.

Coffee Holding Co. (NASDAQ: JVA) has acquired all assets of Empire Coffee Company for $800,000 through its newly created subsidiary, Second Empire. The purchase includes Empire's inventory, equipment, accounts receivable, customer list, and intellectual property. The transaction was completed on November 7, 2024, along with a new lease agreement for Empire's property.

The acquisition provides Coffee Holding with a turnkey manufacturing facility at approximately $0.60 on the dollar of the assets' true value. The company aims to improve Empire's performance and restore operations to pre-Covid revenue levels, with direct control over day-to-day operations. Management expects immediate manufacturing cost savings and operational flexibility.

Coffee Holding Co. (Nasdaq: JVA) reported strong Q3 2024 results, with net sales increasing 19% to $18,813,162 compared to the same period last year. The company's gross profit improved to 20.9% of net sales, up from 15.5% in Q3 2023. JVA achieved a net income of $626,796 ($0.11 per share), compared to a net loss of $111,881 in Q3 2023. The improvement was driven by increased sales to new private label customers and growth in the Café Caribe brand. The company also reduced its line of credit by over $7 million, resulting in significant interest expense savings. CEO Andrew Gordon expressed satisfaction with the results and emphasized the company's determination to see a higher stock price reflecting its true value.

Coffee Holding Co. (NASDAQ: JVA) has terminated its merger agreement with Delta Corp Holdings , initially announced on September 30, 2022. The decision followed an unsuccessful shareholder vote in April. CEO Andrew Gordon emphasized that the company will focus on its independent growth strategy, aiming to boost shareholder value. Over the past few years, Coffee Holding has addressed debt and balance sheet issues, secured new business agreements, and shown revenue growth for four consecutive quarters, despite a loss of $8 million in annual revenue from the closure of its Generations/Steep subsidiary. The company expects recent price increases to offset rising costs of London Robusta coffee and improve profit margins in the upcoming quarters.

Coffee Holding (NASDAQ: JVA) and Delta Corp Holdings Limited announced the confidential submission of a draft registration statement to the SEC for a proposed merger. Under the agreement from September 30, 2022, both companies will become wholly owned subsidiaries of a newly formed holding company, Pubco, incorporated in the Cayman Islands. This transaction hinges on stockholder approval and the successful listing of Pubco's shares on Nasdaq. If completed, Delta shareholders will hold majority ownership of Pubco. Coffee Holding, established in 1971, is a key player in the wholesale coffee sector with a diverse product range. Delta specializes in logistics and asset management across multiple sectors. Further details and the actual proxy statement will be made available once the SEC approves the registration statement.

Coffee Holding Co., Inc. (Nasdaq: JVA) received a notice from Nasdaq on March 21, 2023, indicating the company has not filed its Form 10-Q for the quarter ended January 31, 2023, and remains delinquent on its Annual Report for the year ended October 31, 2022. The notice does not affect the listing or trading of JVA stock immediately. The company has until April 3, 2023, to submit a compliance plan, potentially allowing up to 180 days to file the delinquent reports. Coffee Holding aims to file the Annual Report by March 31, 2023, and is working to finalize the Quarterly Report promptly.

Coffee Holding Co., Inc. (Nasdaq: JVA) announced receiving a notice from Nasdaq on February 2, 2023, regarding non-compliance with Listing Rule 5250(c)(1) due to the absence of its Annual Report on Form 10-K for the year ending October 31, 2022. The notice does not immediately affect trading, and the company has until April 3, 2023, to submit a plan to regain compliance. If accepted, it may extend the deadline to file the report until July 31, 2023. The company is actively working to finalize and file its Annual Report promptly.