Inventure Foods (SNAK) Recovers Losses After-hours
Tweet Send to a FriendGet Alerts SNAK Hot Sheet
Price: $7.46 +0.67%
EPS Growth %: -44.4%
Financial Fact:
Gross profit: 8.83M
Today's EPS Names:
ANF, DXLG, FL, More
EPS Growth %: -44.4%
Financial Fact:
Gross profit: 8.83M
Today's EPS Names:
ANF, DXLG, FL, More
Trade SNAK Now!
Shares of Inventure Foods (Nasdaq: SNAK) are moving higher in after-hours trading on Thursday, paring losses taken during normal trading. The company reported earnings that were inline with estimates. Inventure generated record net revenues of $48.0 million for the second quarter, an increase of 10.1%, or $4.4 million versus the prior-year second quarter, primarily attributable to strong performance in the Frozen segment. This was mostly inline with estimates.
Frozen segment net revenues, which includes Jamba® All Natural Smoothies, totaled $23.2 million for the quarter, up 24.1% over the prior-year period.
The Snack segment second quarter net revenues were flat with $24.8 million in net revenues compared to $24.9 million the same quarter a year ago.
Consolidated net income for the quarter grew 88.8% and totaled $1.6 million, or $0.08 per fully diluted share, compared to $0.9 million, or $0.05 per fully diluted share, in the second quarter of 2011.
"We are pleased to report our highest quarterly net revenues in the Company's history, and we are proud of the continued growth and success of our innovative products," said Terry McDaniel, Chief Executive Officer of Inventure Foods.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Frozen segment net revenues, which includes Jamba® All Natural Smoothies, totaled $23.2 million for the quarter, up 24.1% over the prior-year period.
The Snack segment second quarter net revenues were flat with $24.8 million in net revenues compared to $24.9 million the same quarter a year ago.
Consolidated net income for the quarter grew 88.8% and totaled $1.6 million, or $0.08 per fully diluted share, compared to $0.9 million, or $0.05 per fully diluted share, in the second quarter of 2011.
"We are pleased to report our highest quarterly net revenues in the Company's history, and we are proud of the continued growth and success of our innovative products," said Terry McDaniel, Chief Executive Officer of Inventure Foods.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Abercrombie & Fitch Co. (ANF) Misses Q1 EPS by 4c; Guides FY Below Views
- Destination Xl Grp (DXLG) Tops Q1 EPS by 1c; Comps Up 17.7%
- Mentor Graphics Corp (MENT) Tops Q1 EPS by 5c; Guides Q2, FY14
Create E-mail Alert Related Categories
Earnings, General NewsRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
