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  • MamaMancini's Holdings, Inc. (MMMB) Reports Preliminary Q4, FY Corporate Update 0 comments
    Feb 10, 2014 2:11 PM | about stocks: MMMB

    MamaMancini's, a maker and distributor of of specialty pre-prepared, frozen and refrigerated "all natural" food products (as defined by the United States Department of Agriculture), has provided a preliminary unaudited overview of the company's operating progress for the 2013 fiscal year.

    Fourth-quarter gross revenue is expected to be approximately $3.1 million, representing an increase 158 percent compared to $1.2 million in the comparable quarter of 2012. Revenue for the full year 2013 is expected to be approximately $8.7 million, up 89 percent compared to $4.6 million in 2012.

    Net loss for 2013 will be approximately $2.9 million, attributed to the company's ongoing investments in the expansion of its distribution channel and building recognition for the MamaMancini's brand.

    The company also offered several achievements achieved in the fourth quarter and full-year, including increased distribution and fund raising.

    At the end of the fourth quarter of 2013, MMMB's products were offered in 7,040 stores with a total of 22,640 shelf placements and an average of 3.22 SKUs per store, an increase from the prior quarter's report that products were offered in 6,575 stores nationwide totaling 19,940 shelf placements, with an average of 3.03 SKUs per store. The company expects that distribution of MMMB products will increase at a significant double-digit rate in 2014.

    "The company made significant progress in 2013 toward executing on our goals to achieve broad national distribution of our products as we work our way toward becoming a respected brand in the coming years," Carl Wolf, chairman and CEO of MMMB, stated in the news release. "Our manufacturer expanded its production capabilities by adding automation and cutting labor costs; we have attracted new grocery chains that have given us a commitment to stock our products in 2014; we have developed exciting new products that will be introduced in the early months of 2014; and we have responsibly raised capital to fund the growth of the company."

    During 2013, MMMB raised $5.8 million to continue the growth of the company, and said it hopes to complete its current financing of approximately $2.5 million by the second quarter of 2014.MMMB also recently secured a $1.5 million line of credit with FGI Finance in order to increase production on inventory and finance accounts receivable for orders from potentially new, and large, accounts.

    "We continue to make investments to grow the business and drive revenue. Our products are in an important category that stresses natural ingredients with a positive nutritional profile and a high level of convenience for active families in the U.S., Canada and Mexico. We believe that we are very well positioned to continue on the growth trajectory of the past two years. We are very excited with the opportunities ahead," Wolf concluded.

    MMMB expects to file its annual report on Form 10-K with its audited financial results for the 2013 fiscal year on or about March, 15, 2014.

    For more information, visit mamamancinis.com

    MissionIR provides investor relations services to publicly traded companies in exchange for compensation. This article may be part of our efforts to widen a client's exposure. To read our full disclaimer, visit http://disclaimer.missionir.com

    Stocks: MMMB
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