Inventure Foods (SNAK) Misses Q3 EPS by 8c
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Inventure Foods (NASDAQ: SNAK) reported Q3 EPS of ($0.05), $0.08 worse than the analyst estimate of $0.03. Revenue for the quarter came in at $66.5 million versus the consensus estimate of $74.12 million.
“Although our business continued to face certain challenges, our efforts to drive improvement across key areas of our business resulted in increased revenues for our Boulder Canyon, Jamba, and Rader Farms brands,” said Terry McDaniel, Chief Executive Officer of Inventure Foods. “Additionally, we achieved margin expansion of approximately 300 basis points in the Snack products segment, as a result of the strategic investments we made to increase kettle capacity at our Bluffton, Indiana facility to meet strong consumer demand.”
Mr. McDaniel continued, “Our management team continues to evaluate opportunities for growth, increased productivity, operational improvements, and in turn profitability expansion. Our team remains focused on expanding distribution of our frozen and snack product portfolios to drive sales, strengthen our business, and drive long-term value creation for our shareholders.”For earnings history and earnings-related data on Inventure Foods (SNAK) click here.
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