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Organic To Go reports Q4, FY '07 results
March 31, 2008
SEATTLE — Organic To Go has reported financial results for the fourth quarter and year ended Dec. 31, 2007.
For the fourth quarter, sales increased in all three channels. Retail sales were $2.1 million, delivery/catering sales were $1.9 million, and wholesale sales were $700,000 — increases of 71 percent, 47 percent and 65 percent, respectively.
Revenue for the quarter increased 60 percent to $4.7 million, compared with revenues of $2.9 million in the same quarter of the prior year.As anticipated, the net loss was approximately $3.3 million, compared with $3.3 million for the same quarter last year.
For the year, retail sales were $7.1 million, delivery/catering sales were $6.6 million, and wholesale sales were $2.2 million — increases of 37 percent, 100 percent and 100 percent, respectively, year over year.
Revenues for the year increased 65 percent to $15.9 million, compared with revenues of $9.7 million in the prior year.Net loss for the year was approximately $12.1 million, compared with $8 million for the same time last year.
The company operates 26 retail cafés, up from 12 at the end of 2006, and more than doubled the number of customer delivery/catering orders to more than 16,000 in 2007, compared with 7,800 in 2006.
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