US snack maker Inventure Foods has posted a net loss in its third quarter, on the back of higher costs.

The US snack maker yesterday (26 October) reported a net loss of US$190,812 for the three months ending 24 September, compared to a profit of $1.2m in the same period last year.

The company posted an operating loss of $208,682 down from a profit of $1.6m the same period last year. This was due to higher costs and the closing of its Goodyear plant to install new equipment.

However, Inventure saw sales increase 10.1% to $37.5m for the third quarter. The company said sales were supported by the national roll-out of Jamba All-Natural Smoothies.

The third-quarter loss contributed to a loss over the first nine months of its financial year. The snack maker's net income almost halved, dropping 45.9% to $2.1m for the nine months ending 24 September. Its operating profit slumped 40.4% to $3.7m for the nine months. Revenues, however, increased 17.3% for the nine-month period, reaching $117.7m.

CEO Terry McDaniel said: "Although our third-quarter results delivered negative earnings, we executed a number of significant planned initiatives which are in line with our expectations.

"I am pleased with the execution to date of our strategic plan in 2011, and we should be seeing the payback of our investments in the near term."