Decaf Coffee maker founder and CEO John Deasy told investors at a closed-door meeting in New York this week that the company has reached the point where the product is profitable and has been making more money than it was before the election.
The company announced Wednesday that it had surpassed its revenue goal for the first time in nearly five years, reaching $5 million in the fourth quarter of the year.
The milestone comes after a number of years of hard work and financial support from Deasy and the company’s investors, which include private equity firms, foundations and individuals.
Deasy said he thinks he and the board have been doing a great job.
“The way that we’ve been running the company, I’m not sure there’s ever been a company that’s been as successful as us,” Deasy, 61, said.
“I’m really proud of where we are, the company we’re at, and the fact that we’re still here.
I’m just proud that we got to where we were.”
Deasy’s company has been building a line of coffees since the company began selling them in 2014.
But its revenue had been falling since then, as its customers stopped buying its coffees, and Deasy had to shift the business away from coffee-related products to concentrate on selling other products.
“We were struggling to maintain a consistent profit,” Deaspa said.
He added that it was a “very hard, challenging, and frustrating” year for coffee.
The CEO, who left the company in January, said the company is “totally on the same page” on a number and has built a new strategy.
“You can be pretty sure that the sales team is going to be more focused on making coffees,” Deasy said.
That will allow for better profit margins and, eventually, a better financial future for the company.
The decision to move away from the coffee business was driven by “a lot of financial challenges and some really challenging decisions that we made,” he said.
The biggest challenge Deasy faced was how to maintain the business while maintaining a healthy stock price and an effective business.
“If you don’t have a good business, then you’re going to have problems,” Deascas said.
While the company made some losses, it has been able to keep its profit margins up over the past few years and has a better cash flow.
The first year of its dividend, which was $1 a share, came out to $6 million, according to Deasy.
That helped the company meet its dividend target of $1.50 a share and its goal to meet its goal of $2.50 per share in the first quarter of 2020.
Deasies company also has been focusing on expanding its coffee product offerings.
The coffee maker announced last month that it is bringing back its beloved Keurig machine, which has been in a partnership with Starbucks.
The Keurigs coffee machine is also on sale through Amazon.com, which is selling the machine through its Amazon Prime service.
It is not clear when the KeurIG machine will return to the shelves.
The stock of Keurigg has fallen over the years, as people switched to cheaper coffee and the price of Keurgers and other coffees dropped, but Deasys company is doing well, said Jim O’Connor, senior investment strategist at Morningstar Investment Group.
“They’re doing really well and I think they’re going in the right direction,” O’Conners said.
Deaspas and his team have been spending a lot of time working with retailers to bring back some of their old coffee lines, and they’re also working on a new coffee line called K-Cup, which will be launched this summer.
The new coffee lines will include coffees like the K-Star and Keuriger, as well as some other new ones like the Coffee Prince.
The Coffee Prince is a new line of coffee that comes in two flavors.
The K-Stars line comes in coffee flavors like black bean, black coffee, black cherry and the KCP and K-Rite coffee lines.
The other new line, K-A, is a coffee that is infused with tea.
“It’s a really good coffee and I’m really excited about it,” Deays said.
For now, Deasas plan is to continue to invest in the business and continue to expand it, so that when it comes time to buy out some of the remaining customers, the Coffee Princes can still continue to be available.
Deascys new line has the potential to be a great coffee line, said Brian Kline, president of the coffee trade publication Coffee &Tea.
But he said there is one thing that has gotten lost in the conversation about coffee: how many people are using it.
“Coffee is the most popular beverage,” Kline said. Kline