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Coffee Holding
Co., Inc. Reports Fiscal Year 2006 Revenue
BROOKLYN,
New York November 20, 2006. Coffee Holding Co., Inc.
(AMEX:JVA) today
announced revenues for the just completed 2006 Fiscal
(October 31st) reached $50 million for the first time
in company history. Total 2006 revenues were $50,374,000
(unaudited) vs. fiscal 2005 revenues of $41,545,345
(audited), an increase of 21%.
“We’ve continued to experience double digit
top line growth for the 4th consecutive year”
said Andrew Gordon, President and Chief Executive Officer.
“We anticipate that 2007 will be no different
as our sales continue to expand in all 3 of our primary
business areas, private label, branded and green coffee
sales. In addition, we expect to see significant revenue
and profit contributions next year from our newly formed
joint ventures as sales should begin to come on line
following the initial set up phases.”
About
Coffee Holding Co.
Coffee
Holding is a leading integrated wholesale coffee roaster
and dealer in the United States and one of the few coffee
companies that offers a broad array of coffee products
across the entire spectrum of consumer tastes, preferences
and price points. Coffee Holding has been a family operated
business for three generations and has remained profitable
through varying cycles in the coffee industry and the
economy. Coffee Holding’s private label and branded
coffee products are sold through the United States,
Canada and abroad to supermarkets, wholesalers, and
individually owned and multi unit retail customers.
Any
statements that are not historical facts contained in
this release are “forward-looking statements”
within the meaning of the Private Securities Litigation
Reform Act of 1995. It is possible that the assumptions
made by management for purposes of such statements may
not materialize. Actual results may differ materially
from those projected or implied in any forward-looking
statements. Such statements may involve risks and uncertainties,
including but not limited to those relating to product
demand, pricing, market acceptance, the effect of economic
conditions, intellectual property rights, the outcome
of competitive products, risks in product development,
the results of financing efforts, the ability to complete
transactions, and other factors discussed from time
to time in Coffee Holding’s Securities and Exchange
Commission filings. Coffee Holding undertakes no obligation
to update or revise any forward-looking statement for
events or circumstances after the date on which such
statement is made.
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