EAST RUTHERFORD, NJ--(Marketwired - Nov 2, 2016) - MamaMancini's Holdings, Inc. (the "Company" or "MamaMancini's") (OTCQB: MMMB), a marketer of specialty pre-prepared, frozen and refrigerated all natural food products (as defined by the United States Department of Agriculture), today announced preliminary financial results for the third quarter of fiscal year 2017, ended October 31, 2016.

The Company expects sales of approximately $4.5 million, an increase of more than 40% over the comparable quarter ending October 31, 2015, with Cash EBITDA (a non-GAAP financial measure) of approximately $425,000 versus a negative Cash EBITDA of $198,000 in the comparable quarter in 2015. The Company expects to report operating income of approximately $200,000 versus a net operating loss of ($358,000) in the comparable quarter last year, and anticipates reporting positive net income for the quarter versus a net loss of $976,000 in the third quarter last year. The Company estimates that its third quarter results, ending October 31, 2016, represent a significant sequential increase in quarterly sales, operating results and profits from the Company's second quarter. Cash on hand is estimated to be over $600,000 and the Company expects to start paying down its Senior Notes with Manatuck Hill Partners each month beginning in November 2016. The Company's projections are preliminary and subject to final accounting review. The Company will be reporting its financial results in a Form 10-Q filing with the Securities and Exchange Commission on or about December 15, 2016.

During the third quarter, the Company generated new business from several large new, and existing, retail accounts, and is now actively pursuing the food service industry with promising results in the first month of activity.

The Company continues to actively sell its products on QVC, the nation's largest direct-to-consumer retailer. Dan Mancini, co-founder, appeared on QVC on October 19, 25, and 26 offering meatloaf cupcakes, and special high volume offers of the Company's meatballs and sauce. Mr. Mancini is expected to appear on QVC in November and December, with his first appearance on November 8 offering several varieties of MamaMancini's cocktail meatballs to QVC's customers.

Non-GAAP Financial Measures
The Company uses Cash EBITDA as a non-GAAP financial measure. The Company defines Cash EBITDA as earnings before income taxes, depreciation and amortization plus any non-cash stock payments for expenses. The non-cash stock payments for expenses primarily consisting of Board and partial corporate officer compensation totaled approximately $158,000 in the fiscal third quarter ending October 31, 2016 and $87,000 for the same period in 2015. The Company believes that the use of Cash EBITDA is useful to investors and other users of its financial statements in evaluating the Company's operating performance because it provides them with an additional tool to compare business performance across companies and across periods. The Company uses Cash EBITDA in conjunction with traditional GAAP operating performance measures as part of its overall assessment of its performance, for planning purposes, including the preparation of its annual operating budget, and to evaluate the effectiveness of its business strategies. Management does not place undue reliance on Cash EBITDA as its only measure of operating performance. Cash EBITDA should not be considered as a substitute for other measures of financial performance reported in accordance with GAAP.

About MamaMancini's
MamaMancini's is a marketer and distributor of a line of beef meatballs, turkey meatballs, and chicken meatballs all with sauce, five cheese stuffed beef, turkey and chicken meatballs all with sauce, original beef and turkey meatloaves and bacon gorgonzola beef meatloaf, and other similar Italian cuisine products. The Company's sales have been growing on a consistent basis as the Company expands its distribution channel, which includes major retailers such as Costco, Publix, Shop Rite, Topps Super Markets, Sam's Club, Jewel, SaveMarts, Luckys, Lunds/Byerly's, SuperValu, Safeway, Albertsons, Spartan Stores, Bashas, Whole Foods, Shaw's Supermarkets, Kings, Roche Brothers, Key Foods, Stop-n-Shop, Giant Stores, Giant Eagle, Food Town, Randalls, Kroger, Shoppers, Schnucks Markets, Marsh's Supermarkets, King Kullen, Lowes Stores, Central Markets, Weis Markets, Ingles, Hy Vee, and The Fresh Market.

Forward Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may," "future," "plan" or "planned," "will" or "should," "expected," "anticipates," "draft," "eventually" or "projected." You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in the Company's 10-K for the fiscal year ended January 31, 2016 and other filings made by the Company with the Securities and Exchange Commission

Contact Information:


Carl Wolf
Chairman and CEO
MamaMancini's Holdings, Inc.
Stock Symbol: MMMB