Frozen segment net revenues totaled $90.8 million in the current year, an increase of 35.2 percent, or 38.8 percent on a comparable basis, from the prior year. Adjusted for comparability, net revenues for the Frozen segment, excluding Jamba, increased 49.4 percent during 2012 due to continued growth in branded and private label frozen fruit sales. Jamba net revenues for the full year 2012 totaled $13.8 million, and were relatively flat in 2012 on a comparable week basis.
"We communicated a strategic vision beginning in 2011 that included key investments in our facilities, brands and also our operations," Terry McDaniel, chief executive officer of Inventure Foods, Inc said in a prepared statement. "As we close out 2012, a year of double-digit growth in year-over-year net revenues as well as new records for annual net revenues and earnings, we remain encouraged by our team's delivery of our strategic plan. Our results are a testament to the diversity of our brand portfolio and the distribution channels for each of our brands. We are also excited that this success has not gone unrecognized, having been named as one of the best small companies in America by Forbes magazine. Additionally, Consumer Reports recently awarded our Boulder Canyon Hummus chip product with its highest rating, while our Nathan's Famous Honey Mustard Crinkle-Cut Fries received the 'Best New Product' award by Convenience Store News."
"As we look forward, we will continue to make the necessary investments to strengthen our brand portfolios," continued McDaniel. "We've made significant strides in building our healthy/natural portfolio and remain optimistic as we expand existing channels. Our ability to provide consumers innovative and first-to-market products is further underscored by our recent announcement of the exclusive licensing agreement with Seattle's Best Coffee to market and manufacture a healthier and affordable line of delicious, at-home frozen coffee drinks."
"2012 was a year of solid execution on our strategic plan, which has positioned us well to reap the benefits and further expand our base business throughout this coming year. Our consistent revenue and earnings growth over the past several years also provide further indication that our Company and our strategy remain on track to deliver sustainable long-term growth for our shareholders," McDaniel concluded.