Frozen fruit drives Inventure sales gains
Strong sales in the company's frozen segment helped drive a sharp earnings gain at Inventure Foods,…Strong sales in the company's frozen segment helped drive a sharp earnings gain at Inventure Foods, Inc. , Phoenix, Arizona, USA, in fiscal 2012.
Net income in the year ended Dec. 29 was $7,448,634, equal to 40c per share on the common stock, up 164% from $2,816,837, or 16c per share, in fiscal 2011. Excluding the gain on the sale of the companys D.S.D. business, net income for the full year increased nearly 140% to $6.7 million.
Sales for fiscal 2012 were $185,179,427, up 14% from $162,232,418 during fiscal 2011. The increase in sales was driven by gains in the company's frozen segment, where net sales rose 35% to $90.8 million. Continued growth in branded and private label frozen fruit sales led the way, while Jamba net revenues for the full year were relatively flat.