Strong sales from its snack food and Rader businesses have driven a 16.7% rise in first-quarter revenues for US speciality food maker Inventure Foods.
The company today (27 April) booked a US$5.2m year-on-year increase in sales during the three months to 26 March, with revenues rising to $36.6m.
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Snack sales were up 12.4%, thanks to a 44.7% increase in revenue from the Boulder Canyon Natural Foods brand. The group’s Rader business saw sales rise 23.6%, primarily due to an increase in demand for Jamba All Natural Smoothies.
Consolidated net income for the quarter was $1.4m, or $0.08 per fully diluted share, compared to $1.2m, or $0.07 per fully diluted share, in the first quarter of 2010.
Consolidated EBITDA for the quarter was $3.5m, or 9.6% of net revenue, an increase of 9.1% compared to the first quarter of last year.
“We are off to quality starts in both our snack and Rader divisions as we continue to deliver year-over-year revenue and earnings growth,” CEO Terry McDaniel said.
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By GlobalData
