US-based Inventure Foods has reported that its net income increased 164.4% to $7.4m for the year ended 29 December 2012, compared to $2.8m in 2011.
The company posted 14.1% increase in net revenues to $185.2m, compared to $162.2m in the previous year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year increased 74.4% to $17.1m, compared to $9.8m in the earlier year.
Segment-wise, Inventure Foods' snack division posted 0.7% decline in net revenues to $94.4m. Frozen segment reported 35.2% increase net revenues to $90.8m.
For the fourth quarter ended 29 December 2012, the company posted 2.1% decrease in net revenues to $43.5m, compared to $44.5m for the same period in 2011, driven by in the healthy/natural portfolio.
Net income for the fourth quarter increased to $2.3m, compared to $741,583 for the corresponding period in the earlier year.
Inventure Foods chief executive officer Terry McDaniel said, "As we look forward, we will continue to make the necessary investments to strengthen our brand portfolios."
Inventure Foods is a marketer and manufacturer of specialty foods. The company operates manufacturing facilities in Arizona, Indiana and Washington.
The company's owned and licensed brands including Boulder Canyon Natural Foods, Jamba, Rader Farms, T.G.I. Friday's, Nathan's Famous, Vidalia Brands, Poore Brothers, Tato Skins and Bob's Texas Style.
