Inventure Foods Reports Record First Quarter 2011 Results

Inventure Foods

today reported record financial results for the first quarter ending March 26, 2011, highlighted by net revenue growth in both the Snack and Rader divisions and record first quarter earnings of $0.08 per fully diluted share. First Quarter 2011 Financial Results Inventure generated net revenue of $36.6 million for the first quarter, an increase of 16.7%, or $5.2 million versus the prior-year first quarter. Snack division net revenue posted a 12.4% increase over the same quarter a year ago to $21.7 million, which was led by a 44.7% increase in revenues and continued strong demand for Boulder Canyon Natural Foods™ products. The Snack division also experienced a second consecutive quarter of resurgent growth in the T.G.I.Friday's® brand, which increased 17.6% from the prior year. Other key growth drivers for the division included a 31.3% gain in Private Label and a 7.7% increase in the BURGER KING™ brand. These gains were partially offset by a decline in the Poore Brothers® brand.