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Organic To Go net falls
August 12, 2008
SEATTLE — Organic To Go has reported financial results for the second quarter and six-month period ended June 30, 2008.
Revenue for the second quarter increased 56 percent to $6 million, compared with revenues of $3.9 million in the same quarter last year.
Net loss for the second quarter was approximately $3.6 million, as compared with a net loss of $2.6 million reported for the same quarter last year.
During the second quarter, retail sales, which includes café, delivery, and catering sales, were approximately $5.3 million, an increase of 58 percent over the same period last year. Café sales accounted for $2.7 million of the the retail sales total while $2.6 million came in from delivery and catering sales.
The company acquired seven cafés during the second quarter in Seattle and the Washington, D.C., metropolitan area, and closed one café in the Los Angeles area, bringing the total to 32 cafés as of June 30, 2008.
Six-month results
Revenue for the six-month period increased 50 percent to $11.2 million, as compared with revenues of $7.5 million in the same period last year.
Net loss for the period was approximately $6.4 million, as compared with $5.1 million for the same period last year.
For the six months, retail sales, which includes café, delivery, and catering sales, were approximately $9.7 million, an increase of 47 percent over the same period last year. Café sales accounted for $5 million of the the retail sales total while $4.6 million came in from delivery and catering sales.
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