PHOENIX, Oct. 30, 2014 (GLOBE NEWSWIRE) -- Inventure Foods, Inc. (Nasdaq:SNAK) ("Inventure Foods", or the "Company"), a leading specialty food marketer and manufacturer, today reported financial results for the third quarter and nine months ended September 27, 2014.
Third Quarter Fiscal 2014 Highlights
- Net revenues increased 33.1% to $72.6 million.
- Adjusted EBITDA* increased 13.0% to $5.9 million.
- Diluted earnings per share was $0.15, or $0.11 adjusted diluted earnings per share*.
Year-to-Date Fiscal 2014 Highlights
- Net revenues increased 35.2% to $211.9 million.
- Adjusted EBITDA* increased 42.2% to $16.9 million.
- Diluted earnings per share was $0.36, or $0.30 adjusted diluted earnings per share*.
"Our strong double digit revenue growth underscores the continued demand for our products driven by 90.8% growth of our Boulder Canyon brand, 12.4% growth in frozen berries, 52.9% growth in snack private label, 30.8% increase in frozen beverage and the addition of our Fresh Frozen Foods business," said Terry McDaniel, Chief Executive Officer of Inventure Foods. "We continued to execute our strategic initiatives in the quarter with our healthy/natural product line up 70.1%, which now represents over 84.3% of our business. These results and the continued execution of our strategic initiatives helped us to deliver another quarter of profitability." Full report.
