Jones Soda narrows second-quarter loss on smaller costs, but revenue still slips

Jones Soda narrows 2Q loss on smaller costs

SEATTLE — Jones Soda Co. narrowed its second-quarter loss by cutting its costs 29 percent, even though revenue fell for the specialty soda maker.

Jones reported a net loss of $1.6 million, or 6 cents per share, for the quarter that ended June 30. The loss was smaller than the nearly $2 million, or 7 cents per share, the company lost in the year-ago period.

Revenue fell 28 percent to $5.4 million as soda sales fell.

Shoppers are cutting back on nonessential spending amid the downturn, which hurts specialty companies like Jones. They’re also drinking less soda and switching to juices and teas.

Operating expenses fell 29 percent to $2.8 million, aided by cutting the work force last year, the company reported late Thursday.

William Meissner, president and CEO of Jones Soda, said the company is overhauling its sales organization, a move that will support its core brands and lead to market share gains.

Shares of Jones fell 4 cents, or 3.6 percent, to $1.08 in morning trading Friday.