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Originally published Thursday, May 9, 2013 at 2:14 PM

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Jones Soda reduces loss

The Seattle soda pop marketer cuts its quarterly loss, but sees drop in revenue as well. Its cash position remains precarious.

Seattle Times business reporter

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Jones Soda’s loss narrowed to $399,000 for the first quarter, ended March 31, compared with $1.7 million a year earlier.

The improvement came despite a 20 percent drop in revenue, to $3.1 million.

The revenue decline was a result of “management’s strategy to reallocate resources from certain markets while focusing on key core markets, particularly during the upcoming busier summer selling season,” the company said in a news release.

It cut overhead almost in half, to $675,000 for the quarter.

The Seattle-based soda pop marketer has said for years that it might not be able to continue operating. It ended the quarter with $1.2 million in cash, down from $1.7 million three months earlier.

Jones shares fell so low, they are now traded over the counter rather than on a major stock exchange. They rose 3.6 cents Thursday to 56.6 cents before the earnings news and climbed a fraction of a penny in after-hours trading.

Melissa Allison: 206-464-3312 or mallison@seattletimes.com. Twitter @AllisonSeattle.

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