EAST RUTHERFORD, NJ--(Marketwired - Jun 13, 2017) - 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 first quarter of fiscal year 2018, ended April 30, 2017.

The Company expects first quarter fiscal 2018 sales of approximately $5.4 million, an increase of approximately 37% over the comparable quarter in fiscal 2017, with cash EBITDA of approximately $513,000. The Company expects to report a profit of approximately $128,000 on a GAAP basis for the quarter versus a net loss of $(226,000) in the first quarter last year. Cash on hand is estimated to be over $436,000. The Company will be reporting its financial results in a Form 10-Q filing with the Securities and Exchange Commission on or about June 13, 2017.

Carl Wolf, chairman and chief executive officer of MamaMancini's Holdings, said, "We are pleased with the progress being made in successfully executing on our strategic business plan. We continue to gain traction on getting our products prominently featured in the faster growing deli and hot bar sections of grocery stores throughout the country. We expect to report our third consecutive quarter of profitability; an important step toward achieving our first full 12-month period of profitability.

"Looking ahead, our goal is to get to a $40 million run rate by late summer 2017. If we get to that run rate we believe cash flow to the company will be in the range of $6 million to $7 million per year. That level of cash flow includes the pay down of the receivable from its contract manufacturer Joseph Epstein Foods, Inc. This is not our internal projection but our goal. The key to the business right now is execution, which will cause the company to ramp up from a $20 million run rate to a $40 million run rate in less than a year. We expect a double-digit sequential revenue increase in the upcoming second quarter with similar increases in net income and cash EBITDA. That is a major undertaking. We are excited with the opportunities ahead." 

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 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, Price Chopper, 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, Marsh's Supermarkets, King Kullen, Lowes Stores, Central Markets, Weis Markets, Ingles, 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