Jones Soda (JSDA) Surges After Hours as Earnings Are In Line and Revenues Beat

Jones Soda (NASDAQ: JSDA) announced in line earnings for Q3 of $-.06/share and revenues of $7.2M vs. a $6.8M analyst estimate.

This was the first earnings since 2007 where Jones met or exceeded analyst estimates and the stock is responding in the after hours session.

"Our third quarter bottom-line results show meaningful improvement over the same period last year and represent our best performance in the last nine quarters, underscoring the positive progress we have made during the past 12 months to streamline our business," commented Joth Ricci, President & Chief Executive Officer.

Currently the company is burning cash at an annualized rate of $3.3M/year with $6.2M of cash on the balance sheet. This represents about 1.8 years before the company would run out of cash at the current rate. The represents of significant improvement over last year, when cash was being burnt at a rate of $15.2M/year.

Jones Soda was trading up 19.4% to $0.895/share in the after hours session.