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ALL NATURAL MAMAMANCINI'S An Original Family Recipe Source : MamaMancini's Holdings , Inc. December 14 , 2021 16:10 ET MamaMancini's Reports Third Quarter 2022 Financial Results Sales Increase 12 % with Margins Temporarily Impinged by Higher Freight and Protein Commodity Costs ; Significant Margin Improvement Efforts Underway New Ready - to - Eat Products to be Introduced in Next Several Months EAST RUTHERFORD , NJ , Dec. 14 , 2021 ( GLOBE NEWSWIRE ) -- MamaMancini's Holdings , Inc. ( NASDAQ : MMMB ) , a marketer of specialty pre - prepared , frozen and refrigerated food products , has reported its financial results for the fiscal third quarter ended October 31 , 2021 . Financial Summary : Revenues Gross Profit Operating Expenses Pre - Tax Net Income Net Income Three Months Ended October 31 , 2021 2020 Year - over- Year % Change $ 10.9 million $ 9.7 million $ 2.7 million $ 2.9 million 12.1 % ( 6.2 % ) $ 2.7 million $ 2.1 million 28.5 % ( $ 0.0 ) million $ 0.7 million ( 101.0 % ) ( $ 0.0 ) million $ 0.7 million ( 100.7 % ) ( $ 0.00 ) $ 0.02 ( 100.0 % ) $ 4.5 million $ 1.8 million 153.2 % Earnings per Share Cash Third Quarter 2022 & Subsequent Operational Highlights : • Notably advanced the Company's active acquisition program targeting complementary food product firms with sales in the $ 12 to $ 35 million per year range , generating positive EBITDA . Products that are symbiotic to MamaMancini's existing retail , club store and food service distribution network are high priority . • Named the coveted Today's Special Value deal on QVC for December 8th , securing approximately 5 hours of airtime throughout the day . This drove expected sales of $ 2,000,000 spread out through calendar 2021 and 2022 . • Received the prestigious Food Product of the Month Award at QVC for the month of September , as well as three QVC Customer Choice Food Awards for Most Recommended Brand , Best Meatball and Best Sauce Among all QVC Food Brands . • Attended leading virtual investor conferences including the Taglich Brothers Investment Conference on September 13th and the LD Micro Main Event on October 13th . • New Ready - to - Eat product line ready to begin distribution . Management Commentary " We notably advanced our ongoing active acquisition program in the third quarter , which could significantly expand our existing business in the prepared foods segment , " said Carl Wolf , Chairman and CEO of MamaMancini's . " Any acquisition we make will be financed in a shareholder friendly way , targeting zero shares to be issued , leveraging cash on hand and attractive bank financing we have available to us . Given our growth expectations and the revenue from potential near - term acquisition targets , we believe MamaMancini's could approach $ 100 million in annual sales within 18 months .