"It was a great team effort to post another record year of performance and we have a number of solid growth initiatives in place that should further strengthen our position for the future," said Terry McDaniel, CEO of Inventure Foods in a prepared statement. "Boulder Canyon™ is showing exceptional growth as we continue to accelerate investment in this brand. We recently announced plans to rollout Jamba® nationally and are meeting with a number of customers along the East Coast. We have also stabilized T.G.I. Friday's®, which continues to be a very important profit contributor for the company."
McDaniel continued: "2010 was an eventful year. Our Rader business is expanding through new products and new distribution in North America and through ongoing growth within our current customer base. We also launched our most exciting new product to date – the Jamba® All Natural Smoothies make-at-home kit – and achieved gross sales of almost $5.0 million during our initial rollout, which covered less than half the year in only a limited number of markets. We are off to a great start in 2011 as this category historically picks up at this time of year. Although our costs associated with our investment in the national Jamba® All Natural Smoothies roll out may impact total company earnings in 2011, we expect Jamba® to drive continued sales and earnings growth in the long-term. On the cost side, we were able to achieve approximately $2.6 million in savings during the year by maintaining our focus on expense control, which will ultimately fund a number of our investments."
"Inventure has successfully concluded its fourth consecutive year of revenue and earnings growth. During the past four years we experienced a 91.9 percent increase in net revenue and a 308.7 percent increase in net income. During the year, revenues of our Healthy/Natural portfolio of products, which consist of Boulder Canyon™, Rader Farms®, and Jamba® increased by 26.6 percent. We remain focused on making further investments in brand support, people, plants, and new product development, which will help drive growth and shareholder value into the future."