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MamaMancini's Holdings, Inc. (MMMB) (MMMB)
MamaMancini's Holdings, Inc. is a marketer of specialty pre-prepared, frozen, and refrigerated all natural food products (as defined by the United States Department of Agriculture - USDA). The company is a marketer and distributor of a line of beef meatballs with sauce, turkey meatballs with sauce, chicken meatballs with sauce, and pork meatballs with sauce, along with other similar Italian products. MamaMancini's Holdings is headquartered in East Rutherford, New Jersey.
The company offers Slow Cooked Italian Sauce and Meatballs, Stuffed Meatballs, Slow Cooked Sauces, Slow Cooked "Italian Style Sauce" and Meatballs - Gluten Free, Slow Cooked Italian Sauce and Meatballs made without Antibiotics, and its Italian Style Meatloaf. In addition, MamaMancini's has Food Service offerings and offers Bulk Deli Orders.
MamaMancini's distribution channel includes major retailers, including Costco, Sams Clubs, Publix, Shop Rite, Price Chopper, Harris Teeter, SaveMarts, Luckys, Lunds/Byerly's, SuperValu, Raley's, BJ's, Whole Foods, Shaw's Supermarkets, Kings, Key Foods, and Stop-n-Shop. Additionally, the company's distribution channel includes Giant Stores, Giant Eagle, King Kullen, Food Town, Kroger, Safeway, Albertsons, Lowes, Nash Finch, Spartan Stores, Shoppers, Marsh's Supermarkets, Central Markets, Weis Markets, Ingles, Market Basket, Roche Brothers, and The Fresh Market.
Two new MamaMancini's products include All-Beef Florentine Five Cheese and Spinach Stuffed Meatballs in authentic Italian sauce; and Chicken Florentine Five Cheese and Spinach Stuffed Meatballs in authentic Italian sauce. Both products offer convenience in preparation and have a first-rate nutritional profile.
Recently, MamaMancini's Holdings announced financial results for Q3 of fiscal year 2017, ended October 31, 2016. Q3 2017 highlights include revenue increasing 41 percent to $4.6 million versus Q3 2016 revenue of $3.2 million. Q3 2017 gross margin grew to 37 percent versus 30 percent in Q3 of fiscal 2016.
Income from operations for Q3 fiscal 2017 improved to $243,563 in comparison to $(358,159) in the year ago Q3. This represents an increase of over $600,000. Net income for Q3 fiscal 2017 improved to $80,603 versus $(975,522) in Q3 of fiscal 2016.
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