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July 31, 2014
08:18 EDTSNAKInventure Foods reports Q2 EPS 12c, consensus 11c
Reports Q2 revenue $71.9M, consensus $75.82M. Terry McDaniel, CEO of Inventure Foods stated, "We reported very strong second quarter EBITDA growth of 79.7% fueled by a strong net revenue increase of 33.9%. Our healthy/natural line increased 57.5%, and now represents over 80% of our business. Our overall success this quarter was driven by 79.1% growth of our Boulder Canyon brand, 13.9% growth in frozen berries and the addition of our newly acquired Fresh Frozen Foods business. During Q2, we generated a 170 basis point improvement in gross margin, largely driven by a 470 basis point improvement in our snack segment. The continued strong execution of our 2014 strategic initiatives allowed us to deliver another strong quarter of double digit earnings growth."
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