Inventure Foods (SNAK) Recovers Losses After-hours

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.

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