Diedrich Posts Loss but Sales Rise 23%
Diedrich Coffee Inc. posted a net loss for the fiscal second quarter while sales climbed 23%.
The coffeehouse operator said it lost $698,452, or 13 cents a share, for the three months ended July 30, compared with net income of $5,702 for the same quarter a year ago. Sales rose to $5.8 million from $4.7 million.
For the first half, the company lost $6.08 million, or $1.13 a share, including a $4.6 million provision for restructuring costs and store closings. A year ago, Diedrich earned $112,815, or 3 cents a share. Sales climbed 31.5% to $11.7 million from $8.9 million.