Farmer Brothers reports loss in Q3

May 12, 2008 (Datamonitor via COMTEX) -- -- Farmer Brothers, a manufacturer, wholesaler and distributor of coffee and spices, has reported a net loss of $2.7 million for the third quarter ended March 31, 2008, compared to net income of $1.5 million for the same period in 2007.

Net loss per diluted share was $0.19, compared with net income per diluted share of $0.11 in the corresponding period of 2007. Revenues were $67.3 million, up 23.5% from $54.5 million in the third quarter of 2007.

For the first nine months ended March 31, 2008, net loss was $3.89 million, or $0.27 per diluted share, compared to net income of $5.48 million, or $0.39 per diluted share in the same period of 2007.

Net sales were $199.58 million, compared to $158.12 million for the first nine months ended March 31, 2007.

Rocky Laverty, president and CEO of Farmer Brothers, said: "Sales and operating results in the third quarter reflected positively on our continuing efforts to strengthen the Farmer Brothers' brand and effectively use our manufacturing resources to support the growth of CBI and our national account business."

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