Q2 2013 Net Sales Increased to $5.5 Million; Approximately 27% Increase vs. Q2 2012
BONITA SPRINGS, FL, August 14, 2013 (ACCESSWIRE) Innovative Food Holdings (OTCQB: IVFH)
- $5.5 million in revenues for Q2 2013; revenue growth of approximately 27% vs. Q2 2012
- June 2013 represented 47th consecutive month of increased month-over-month revenue
- Innovative Food Holdings is a fast growing nationwide leader in the direct from source, specialty food space
Innovative Food Holdings (OTCQB: IVFH) reported net sales of $5.5 million for the second quarter of 2013, an increase of approximately 27%, or $1.2 million, compared to $4.3 million in net sales recorded for the second quarter of 2012.
Adjusted EPS (EPS without amortization and equity related gains/losses) grew to $.045 per share for Q2 2013 vs. $.042 per share in Q2 of 2012. Cash EBITDA (EBITDA without equity related gains/losses) grew approximately 18% to over $343,000 for the second quarter of 2013 vs. approximately $292,000 in Q2 2012.
The Company's financial results for a portion of the second quarter 2012 did not include sales and profits associated with the Company's subsidiary, Artisan Specialty Foods, which was purchased by Innovative Food Holdings in May 2012.
Sam Klepfish, Chief Executive Officer of Innovative Food Holdings, commented, "We are pleased with the Q2 2013 results and continue to see growth in key areas of the company. In addition, we are excited by Innovative Food Holdings' third quarter to date sales as we have seen a further uptick in sales growth levels. As we move towards the middle of the third quarter, we intend to continue to focus on increasing sales and profits and on further improving the company's financial profile and capital structure, with a goal of increasing value for Innovative Food Holdings' shareholders."
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Capital Markets Advisor:
Merriman Capital, Inc.
ABOUT INOVATIVE FOOD HOLDINGS, INC.
Innovative Food Holdings, through its subsidiaries, is a leading nationwide provider of direct from source specialty foods, healthcare foods, gluten free foods, and artisanal foods, to the professional foodservice market. IVFH also markets those products directly to the consumer, through its website at http://www.forthegourmet.com/. Many of Innovative Food Holdings' 7,000+ products are used on a daily basis by approximately 30,000 of some of the leading professional chefs across the United States.
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (IVFH) (the "Company") that are based on the current beliefs of the Company's management, as well as assumptions made by, and information currently available to, the Company. Such statements reflect the current views of the Company with respect to future events and are subject to certain assumptions, including those described in this release. Should one or more of these underlying assumptions prove incorrect, actual results may vary materially from those described herein as "should," "could," "anticipate," "believe," "intend," "plan," "might," "potentially" or "expect." The Company does not intend to update these forward-looking statements.
SOURCE: Innovative Food Holdings
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