MamaMancini's Holdings, Inc. - MMMB STOCK NEWS

MamaMancini's Holdings, Inc. (NASDAQ: MMMB) reported strong financial results for the fourth quarter and fiscal year ended January 31, 2023. Revenue rose 64% to $22.8 million in Q4 and surged 98% year-over-year to $93.2 million for the fiscal year. Gross profit reached $6.4 million, a 147% increase, pushing gross margins to 28.2%. Net income was $1.8 million, marking a significant turnaround from a net loss of $1.3 million in Q4 2022, with earnings per share at $0.06. The company improved its cash position to $4.4 million while reducing long-term debt by $3.2 million over the second half of fiscal 2023. Management aims to enhance margins further and targets upper 20% gross margin levels in the near future, supported by new procurement strategies and operational efficiencies.

MamaMancini's Holdings (NASDAQ: MMMB), a leading manufacturer of prepared foods, announced its participation in the Planet MicroCap Showcase on April 27, 2023, and the 19th Annual Taglich Brothers Investment Conference on May 1, 2023. Adam L. Michaels, Chairman and CEO, will present at both events, providing updates on the company's performance and initiatives. The Planet MicroCap Showcase will be held virtually at 1:00 p.m. Eastern time, while the Taglich Brothers Conference occurs in New York at 12:00 p.m. Eastern time. Following the Taglich presentation, there will be a breakout session for investors. Michaels emphasized the importance of these conferences to share recent accomplishments and future plans for margin enhancement and customer service. MamaMancini’s continues to strive for growth through a diverse portfolio of fresh deli solutions aimed at meeting modern consumer demands.

MamaMancini's Holdings (NASDAQ: MMMB) will release its financial results for the fiscal fourth quarter ended January 31, 2023 on April 26, 2023, after market close. Management will host an investor conference call at 4:30 p.m. ET on the same day to discuss the results and provide a corporate update. CEO Adam L. Michaels emphasized the company’s focus on margin enhancement and operational efficiencies, indicating prospects for improved profitability and organic revenue growth through increased product offerings at retail partners. The company has over 45,000 product placements in various retail environments and aims to provide a comprehensive deli solutions platform that meets modern consumer demands.

For additional details, interested parties can access the webcast of the call.

MamaMancini's Holdings (NASDAQ: MMMB) has appointed Joselina Peralta as its first Chief Procurement Officer and Senior Vice President of End to End Supply Chain. With over 20 years of experience in global supply chain logistics and procurement, Peralta has a proven track record of achieving multi-million-dollar cost savings. Previously, she worked with Henkel and Troy Corporation, and oversaw a $1.7 billion spend at Merck. Her role at MamaMancini's will focus on optimizing procurement and logistics, enhancing margins through strategic sourcing, and improving operational efficiency. Peralta emphasized the importance of strong procurement leadership in meeting customer needs and increasing operational resilience. The company aims to become a one-stop-shop deli solutions platform.

MamaMancini's Holdings, Inc. (NASDAQ: MMMB) has announced its participation in the Diamond Equity Research Emerging Growth Invitational on April 5, 2023, at 9:00 a.m. Eastern time. Adam L. Michaels, the company's Chairman and CEO, will present and engage in a Q&A session. The presentation emphasizes the company's recent achievements, including new partnerships with leading club store chains and a focus on margin enhancement to boost net income.

As they transition into fiscal 2024, MamaMancini's aims to improve its financial profile and leverage robust operating cash flow to strengthen its balance sheet and reduce debt. A live and archived webcast will be available for participants.

MamaMancini's Holdings (NASDAQ: MMMB) announced the appointment of Shirley Romig to its Board of Directors, bringing over 20 years of digital-first consumer experience. Previously, Romig was CEO of Mixo and held significant roles at LYFT and LOVESAC. Her expertise in corporate governance and operations is expected to enhance the board's effectiveness as the company seeks to evolve as a public entity.

CEO Adam L. Michaels expressed enthusiasm for Romig's appointment, emphasizing the importance of diverse perspectives in achieving long-term value for shareholders. Romig sees MamaMancini's potential as a leading deli solutions provider, leveraging its rich Italian food history.

MamaMancini's Holdings, Inc. (NASDAQ: MMMB), a leading provider of fresh deli prepared foods, announced its participation in the 35th Annual ROTH Investor Conference on March 13-14, 2023, in Dana Point, California. CEO Adam L. Michaels will engage in one-on-one meetings with institutional investors to boost the company's visibility in capital markets.

Michaels highlighted the positive impact of margin enhancement efforts, which he believes will lead to improved profitability throughout 2023. The subsidiary, T&L Creative Salads, is experiencing strong growth, and integrating its operations will facilitate further growth opportunities.

MamaMancini's Holdings, Inc. (NASDAQ: MMMB) is set to host a virtual investor day presentation on February 15, 2023, at 1:00 p.m. Eastern time. The session will feature insights from Chairman & CEO Adam L. Michaels and CFO Anthony Gruber on the company's strategic initiatives and one-stop-shop platform approach.

The call will include a question-and-answer segment, and participants are encouraged to dial in 10 minutes early. A telephone playback will be available until March 1, 2023, and a webcast replay will also be accessible through the provided link.

MamaMancini's Holdings, Inc. (NASDAQ: MMMB) announces the retirement of Carl Wolf from its Board, effective February 1, 2023. Wolf served as Chairman and CEO from 2010 to 2022, transitioning to Chairman of the Board until his retirement. Under his leadership, the company grew significantly in the deli prepared foods sector. Adam L. Michaels, CEO, will assume the role of Chairman, emphasizing confidence in the team's ability to drive future success. This leadership change may signal fresh perspectives for the company, which is known for its extensive product offerings in grocery and convenience stores.