Welcome!

News Feed Item

MamaMancini's Provides Preliminary 2013 Corporate Operating Update

EAST RUTHERFORD, N.J., Feb. 7, 2014 /PRNewswire/ -- MamaMancini's Holdings, Inc. (the "Company") (OTCQB: MMMB), an emerging manufacturer and marketer of specialty pre-prepared, frozen and refrigerated "all natural" food products (as defined by the United States Department of Agriculture), today provided a preliminary unaudited overview of the Company's operating progress for the 2013 fiscal year. The Company expects to file its annual report on Form 10-K with its audited financial results for the 2013 fiscal year on or about March, 15, 2014.

Preliminary Financial Results:

  • 2013 revenue expected to be approximately $8.7 million compared to $4.6 million in 2012; representing an 89% increase.
  • Q4 2013 gross revenue expected to be approximately $3.1 million, representing an increase 158% compared to $1.2 million in Q4  2012.
  • As anticipated, net loss for 2013 will be approximately $2.9 million as the Company continues to invest in expanding its distribution channel and building recognition for the MamaMancini's brand.

Product Placements:

  • At the end of Q3 2013, The Company's products were offered in 6,575 stores nationwide totaling 19,940 shelf placements, with an average of 3.03 SKUs per store.
  • At the end of Q4 2013, The Company's products were offered in 7,040 stores with a total of 22,640 shelf placements and an average of 3.22 SKUs per store.
  • The Company expects that distribution of MMMB products will increase at a significant double-digit rate in 2014.

Financing:

  • During 2013 the Company successfully raised $5.8 million to continue the growth of the Company.
  • The Company hopes to complete its current financing of approximately $2.5 million by the second quarter of 2014.
  • The Company recently secured a $1.5 million line of credit with FGI Finance in order to increase production on inventory and finance accounts receivable for orders from potentially new, and large, accounts.

New Products:

  • New Products tentatively scheduled to rollout in the First Quarter of 2014:
    • Gluten-Free Slow Cooked Italian Sauce and Beef Meatballs
    • Slow Cooked Italian Sauce and Gluten-Free Turkey Meatballs
    • Mac 'n Mama's (Ziti with Crushed Meatballs and Sauce and Cheeses)
    • Orrecchiette with Broccoli and Pork Meatballs
    • Slow Cooked Italian Sauce and Antibiotic-Free Beef Meatballs
    • Slow Cooked Italian Sauce and Antibiotic-Free Turkey Meatballs
    • Five Cheese Stuffed Meatballs.

Manufacturing Capacity:

  • The Company's co-packer substantially completed an automated manufacturing upgrade;
  • New automated systems are expected reduce labor costs;
  • The Company's third party manufacturer increased its manufacturing capacity by more than 150% percent.

Management Discussion

Carl Wolf, chairman and chief executive officer of MamaMancini's, said, "The Company made significant progress in 2013 toward executing on our goals to achieve broad national distribution of our products as we work our way toward becoming a respected brand in the coming years. Our manufacturer expanded its production capabilities by adding automation and cutting labor costs; we have attracted new grocery chains that have given us a commitment to stock our products in 2014; we have developed exciting new products that will be introduced in the early months of 2014; and we have responsibly raised capital to fund the growth of the Company."

Mr. Wolf continued, "We continue to make investments to grow the business and drive revenue. Our products are in an important category that stresses natural ingredients with a positive nutritional profile and a high level of convenience for active families in the U.S., Canada and Mexico.  We believe that we are very well positioned to continue on the growth trajectory of the past two years. We are very excited with the opportunities ahead."

About MamaMancini's
MamaMancini's is a manufacturer and distributor of a line of all natural, beef meatballs with sauce, turkey meatballs with sauce, chicken meatballs with sauce, pork meatballs with sauce, and other similar Italian products. The Company's sales have been growing on a consistent basis as the Company expands its distribution channel, which includes major retailers such as Costco, Publix, Shop Rite, Price Chopper, Redners, Pathmark, A&P, Waldbaums, Food Emporium, Whole Foods, Shaw's Supermarkets, Kings, Key Foods, Giant Eagle, Stop-n-Shop, Giant Stores, Food Town, Kroger, Winn Dixie, Market Basket, Albertsons, Shoppers, Wal-Mart, Marsh's Supermarkets, Bashas, Bi-Lo, Central Markets, Weis Markets, Ingles, and The Fresh Market. For more information visit the company's website at www.mamamancinis.com.

Forward Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended December 31, 2012 and other filings made by the Company with the Securities and Exchange Commission.

Contact:

Carl Wolf

Robert Blum, Joe Dorame, Joe Diaz


MamaMancini's

Lytham Partners, LLC


Chairman and CEO

602-889-9700


201-531-1212

[email protected]

SOURCE MamaMancini's Holdings, Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that Systena America will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Systena Group has been in business for various software development and verification in Japan, US, ASEAN, and China by utilizing the knowledge we gained from all types of device development for various industries including smartphones (Android/iOS), wireless communication, security technology and IoT serv...
Multiple data types are pouring into IoT deployments. Data is coming in small packages as well as enormous files and data streams of many sizes. Widespread use of mobile devices adds to the total. In this power panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists will look at the tools and environments that are being put to use in IoT deployments, as well as the team skills a modern enterprise IT shop needs to keep things running, get a handle on all this data, and deli...
We build IoT infrastructure products - when you have to integrate different devices, different systems and cloud you have to build an application to do that but we eliminate the need to build an application. Our products can integrate any device, any system, any cloud regardless of protocol," explained Peter Jung, Chief Product Officer at Pulzze Systems, in this SYS-CON.tv interview at @ThingsExpo, held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
As DevOps methodologies expand their reach across the enterprise, organizations face the daunting challenge of adapting related cloud strategies to ensure optimal alignment, from managing complexity to ensuring proper governance. How can culture, automation, legacy apps and even budget be reexamined to enable this ongoing shift within the modern software factory?
SYS-CON Events announced today that Ocean9will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Ocean9 provides cloud services for Backup, Disaster Recovery (DRaaS) and instant Innovation, and redefines enterprise infrastructure with its cloud native subscription offerings for mission critical SAP workloads.
SYS-CON Events announced today that Infranics will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Since 2000, Infranics has developed SysMaster Suite, which is required for the stable and efficient management of ICT infrastructure. The ICT management solution developed and provided by Infranics continues to add intelligence to the ICT infrastructure through the IMC (Infra Management Cycle) based on mathemat...
SYS-CON Events announced today that Carbonite will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Carbonite protects your entire IT footprint with the right level of protection for each workload, ensuring lower costs and dependable solutions with DoubleTake and Evault.
SYS-CON Events announced today that Cloudistics, an on-premises cloud computing company, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloudistics delivers a complete public cloud experience with composable on-premises infrastructures to medium and large enterprises. Its software-defined technology natively converges network, storage, compute, virtualization, and management into a ...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 21st International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. @ThingsExpo Silicon Valley Call for Papers is now open.
SYS-CON Events announced today that HTBase will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. HTBase (Gartner 2016 Cool Vendor) delivers a Composable IT infrastructure solution architected for agility and increased efficiency. It turns compute, storage, and fabric into fluid pools of resources that are easily composed and re-composed to meet each application’s needs. With HTBase, companies can quickly prov...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
SYS-CON Events announced today that SoftLayer, an IBM Company, has been named “Gold Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York, New York. SoftLayer, an IBM Company, provides cloud infrastructure as a service from a growing number of data centers and network points of presence around the world. SoftLayer’s customers range from Web startups to global enterprises.
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search and...