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Organic To Go reports preliminary Q1 results
April 22, 2008
SEATTLE — Organic To Go has reported preliminary unaudited financial results for the first quarter ended March 31, 2008.
Revenues for the quarter increased 43 percent to approximately $5.2 million, compared with revenues of $3.6 million in the same quarter last year. Additionally, gross profit for the quarter increased approximately 80 percent to $3.2 million, as compared with $1.8 million in the same period last year.
During the first quarter, Organic to Go reported retail sales of approximately $2.3 million, delivery sales of approximately $2 million and wholesale sales of approximately $870,000, increases of 40 percent, 31 percent and 94 percent, respectively.
"We believe that our company is well positioned for continued organic and acquisition related expansion, driving our top and bottom line growth," said Jason R. Brown, chairman and CEO. "To continue to grow our café business around delivering delicious American cuisine to our customers, in May we plan to launch Pizza Organico single-serve pizzas in our retail locations. Pizza is a delicious way to create new organic devotees and profitably expand our offering to our existing customers."
The initial Pizza Organico selection includes cheese, pepperoni, barbeque chicken and vegetarian.
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