Rocky Mountain Chocolate Factory reports slight decrease in revenue, improved gross profit, and reduced costs.

From GlobeNewswire: 2024-10-15 16:05:00

Rocky Mountain Chocolate Factory Inc. reported financial results for its fiscal second quarter ending August 31, 2024, with total revenue at $6.4 million, a slight decrease from $6.6 million in the previous year. The company saw improved gross profit and reduced costs and expenses. Net loss for the quarter was $0.7 million or ($0.11) per share.

CEO Jeff Geygan expressed satisfaction with the progress made in the quarter, noting a focus on strengthening liquidity, expanding the franchise network, and building a strong executive team. The company has made significant strides in these areas, with new team members, a rebranding initiative, and new store openings in strategic markets like Edmond, Oklahoma.

To discuss the financial results, Rocky Mountain Chocolate Factory will hold a conference call today at 5:00 p.m. Eastern time. Interested parties can participate in the call and ask questions. The company’s common stock is listed on the Nasdaq Global Market under the symbol “RMCF.” Additionally, the company encourages caution when relying on forward-looking statements, as risks and uncertainties may impact actual results.

The company’s Condensed Consolidated Balance Sheets and Statements of Operations for the quarter were also released. Total revenue for the quarter was $6.4 million, with a net loss of $0.7 million. Total assets amounted to $21,130, while liabilities and stockholders’ equity totaled $21,130 as well. Rocky Mountain Chocolate Factory remains committed to its strategic plan for sustainable growth and profitability.



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