Diedrich Doubles Sales, Posts Higher Profit
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IRVINE — Coffee retailer Diedrich Coffee Inc. reported higher profit for the third fiscal quarter as sales more than doubled.
Net income for the three months ended Oct. 30 rose to $45,575, or 1 cent a share, from $21,410 for the same period last year. Sales totaled $5.1 million, up from $2.3 million. Nine-month net income increased 12% to $158,390, or 4 cents a share, from $141,027. Sales rose to $12.9 million from $5.6 million.
The company completed its initial public offering in September. During the nine-month period, Diedrich Coffee opened a total of 28 outlets, 18 of which were acquired in the Denver and Houston markets.
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