JVA Coffee Holdings Co

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of

The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): February 3, 2025

 

COFFEE HOLDING CO., INC.

(Exact name of registrant as specified in its charter)

 

Nevada		001-32491		11-2238111
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

 

3475 Victory Boulevard, Staten Island, New York		10314
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code: (718) 832-0800

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class:		Trading Symbol		Name of each exchange on which registered:
Common Stock, Par Value $0.001 Per Share		JVA		NASDAQ Capital Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01. Other Events.

 

On February 3, 2025, Coffee Holding Co., Inc. (the “Company”) issued a press release discussing the Company’s yearly financial performance. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

Item 9.01. Financial Statements and Exhibits.

 

Exhibit No.		Description of Exhibit
99.1		Press Release, dated February 3, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	Coffee Holding Co., Inc.
	By:	/s/ Andrew Gordon
	Name:	Andrew Gordon
	Title:	President and Chief Executive Officer
Date: February 3, 2025

 

 

 

 

Exhibit 99.1

 

Coffee Holding Co., Inc. reports third-best yearly performance in Company’s twenty-year history of being a publicly-traded company.

 

STATEN ISLAND, New York – February 3, 2025. Coffee Holding Co., Inc. (Nasdaq: JVA) (the “Company” or “we”) announced its operating results for the fiscal year ended October 31, 2024:

 

	●	The Company is pleased to report extremely strong results to our shareholders: Net sales for fiscal 2024 increased 15% compared to fiscal 2023;
	●	Gross margins increased from 16% in fiscal 2023 to 20% in fiscal 2024; and
	●	Net income for fiscal 2024 was $2,245,132, or $0.39 per share, compared to a net loss of ($835,576), or ($0.15) per share, in fiscal 2023.

 

With coffee prices remaining over $2.00/lb. for the majority of 2024, we were able to capitalize on our long-term strategy of having a horizontally-integrated product mix.

 

High green coffee prices increased our profitability to our wholesale green coffee customers while mitigating the margin compression to our private label customers, many of whom were behind the growth in our total revenues.

 

“Adding all this new business on the roasted side of the balance sheet was both a boon and a concern at the same time” said Andrew Gordon, President and CEO of Coffee Holding Co.

 

“Even with commodity prices rising as fast as they did, especially during the second half of the year, we still were required to hold off on increasing our prices to our large supermarket and wholesale customers until the national brands increased their prices, which clearly had a negative effect on both revenues and earnings up until when the majority of these price increases were implemented during the latter half of fiscal Q4 of 2024.

 

Now, we believe that these increases, combined with an elevated Arabica futures market, should provide us with a strong tailwind heading into fiscal 2025.

 

Although 2024 proved to be a challenging year due to the macro inflationary environment, which saw coffee prices approach life of contract highs, in addition to increases in the costs of transportation, healthcare and insurance, we believe we successfully navigated these issues to deliver strong results.

 

We strengthened our balance sheet, dramatically reducing our debt load even though interest rates remained elevated, as well as renegotiating our lease at our main offices in Staten Island, which will result in an annual savings of approximately $72,000 a year.

 

These continued efforts on our part to focus on ways to reduce our operating costs along with an expected continued growth trajectory in revenues, give me reason to believe that we will continue to execute as a company and give our shareholders the value that they have missed out on over the past several years.” ended Andrew Gordon, President and CEO.

 

About Coffee Holding

 

Founded in 1971, Coffee Holding Co., Inc. (NASDAQ: JVA) 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’s product offerings consist of eight proprietary brands, each targeting a different segment of the consumer coffee market as well as roasting and blending coffees for major wholesalers and retailers throughout the United States who want to have products under their own names to compete with national brands. In addition to selling roasted coffee, Coffee Holding Co., Inc. also imports green coffee beans from around the world which it resells to smaller regional roasters and coffee shops around the United States and Canada.

 

Forward looking statements

 

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, including the Company’s outlook on the revenue growth. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause our actual results, performance or achievements to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. We have based these forward-looking statements upon information available to management as of the date of this release and management’s expectations and projections about certain future events. It is possible that the assumptions made by management for purposes of such statements may not materialize. Such statements may involve risks and uncertainties, including but not limited to those relating to product demand, pricing, market acceptance, hedging activities, 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 risks and uncertainties described in the “Risk Factors” section of documents filed by the Company from time to time with the Securities and Exchange Commission. The Company undertakes no obligation to update or revise any forward-looking statement for events or circumstances after the date on which such statement is made.

 

Company Contact

 

Coffee Holding Co., Inc.

Andrew Gordon

President & CEO

(718) 832-0800

 

 

v3.25.0.1

Cover	Feb. 03, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 03, 2025
Entity File Number	001-32491
Entity Registrant Name	COFFEE HOLDING CO., INC.
Entity Central Index Key	0001007019
Entity Tax Identification Number	11-2238111
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	3475 Victory Boulevard
Entity Address, City or Town	Staten Island
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10314
City Area Code	(718)
Local Phone Number	832-0800
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, Par Value $0.001 Per Share
Trading Symbol	JVA
Security Exchange Name	NASDAQ
Entity Emerging Growth Company	false

---