Fresh Health Vending International Inc., a San Diego franchisor of vending machines dispensing healthy snacks, reported fiscal 2015 first quarter revenue of $1.85 million, down 8.3 percent from the like quarter of the prior fiscal year.
The company reported a net loss of $251,363 for the quarter, compared to a net loss of $241,980 for the like quarter of the prior fiscal year.
Fresh Healthy Vending said as of Sept. 30 it collected customer deposits and deferred revenue of $5.8 million, compared to $2.9 million in customer deposits in Sept. 30, 2013. The funds represent anticipated future revenue through franchisee prepayments, the company said.
CEO Art Budman said while first quarter revenue was down, the company is encouraged by the strong execution of 216 machines this fiscal quarter compared to 91 machines in the same period of last year.