Innovative Food Holdings Reports Fourth Quarter and Full Year 2015 Financial Results
Specialty Foodservice Revenues up 18% to a Record $30.6 Million
(firmenpresse) - BONITA SPRINGS, FL -- (Marketwired) -- 03/30/16 -- Innovative Food Holdings, Inc. (OTCQB: IVFH), an industry leading specialty food platform announced today financial results for the fourth quarter and full year ended December 31, 2015. The Company will hold a conference call on March 31, 8:30 a.m. ET to discuss the results.
Total Revenue of $30.6 million, an increase of approximately 18% compared to full year 2014
Cash EBITDA (EBITDA excluding stock related expenses) increased by over 30% to $3.0 million vs $2.3 million in FY 2014
Artisan Specialty Foods GAAP sales grew 32% compared to FY 2014
Fourth Quarter 2015 sales grew by 22% to $8.4 million compared to the same quarter last year
Fourth Quarter 2015 Cash EBITDA grew by over 200% to $881,000 compared to the same quarter last year
Justin Wiernasz, President of Innovative Food Holdings, commented, "2015 was a particularly strong year for our specialty food business as we executed across all areas of our business. Our nationwide specialty food platform continues to be a leading solution for both broadline foodservice providers seeking to offer specialty food products to the their customers and to small specialty food companies seeking access to local and national sales channels which, without our platform, would typically be unavailable to them. In addition, our Artisan Specialty subsidiary, which serves as a key part of our specialty food platform, through its local specialty foodservice business, private label business and its national fulfillment capabilities, demonstrated particularly strong sales growth in 2015."
Fourth quarter 2015 specialty foodservice revenue was $8.4 million, up approximately 22% as compared to $6.8 million in the fourth quarter of 2014.
Fourth quarter adjusted net income (net income excluding amortization and stock related expenses) increased by over 230% to $803,000 vs $240,000 in Q4 of 2014.
Fourth quarter adjusted fully diluted EPS (see table) increased by over 120% to $0.025 compared to the fourth quarter of 2014.
Fourth quarter Cash EBITDA increased over 200% year over year to $881,000.
Revenue for the full year of 2015 increased by over 18% to $30.6 million compared to the full year of 2014.
2015 FY adjusted net income grew by 32% to 2.84 million vs. 2.14 million for the full year of 2014.
FY 2015 adjusted fully diluted EPS was $0.09 vs. $0.10 for FY 2014.
FY 2015 Cash EBITDA increased by over 30% to over $3.0 million compared to $2.3 million in 2014.
Sam Klepfish, CEO of IVFH, commented, "We saw strong results from continuing operations in 2015 and particularly strong results in the fourth quarter of 2015 as our specialty food business continued to gain momentum through the end of the year. We believe that we have successfully overcome significant challenges in 2015 and going forward we are looking to relentlessly focus on growing our core specialty food business. Looking at 2016, we believe that we are well positioned to continue to grow our leading specialty food platform, to executing on core growth opportunities within the specialty food space, and to growing value for Innovative Food Holdings'' shareholders."
Date: Thursday, March 31, 2016
Time: 8:30 a.m. Eastern Time
Toll-free dial-in number: 1-888-359-3624
International dial-in number: 1-719-325-2361
Conference ID: 3411377
The conference call will be broadcast live and will be available for replay at and via the investor relations section of the Innovative Food Holdings website at .
Innovative Food Holdings'' (OTCQB: IVFH) industry-leading specialty food platforms in the foodservice and consumer markets provide chefs and consumers direct access to the highest quality specialty food products across the United States.
In the direct-to-chef foodservice market, Innovative Food Holdings'' automated direct-to-chef platform offers efficient, cost effective, and transparent direct sourcing and distribution of over 7,000 specialty foods delivered daily to thousands of chefs nationwide.
This release contains certain forward-looking statements and information relating to Innovative Food Holdings, Inc. (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. Information about other parties was supplied to the Company by other parties and we accept no responsibility for its accuracy.
Ronit Wallerstein
Investor Relations Analyst
(718) 645-1755
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 30.03.2016 - 16:50 Uhr
Sprache: Deutsch
News-ID 1424992
Anzahl Zeichen: 2537
contact information:
Contact person:
Town:
BONITA SPRINGS, FL
Phone:
Kategorie:
Dairy
Typ of Press Release:
type of sending:
Date of sending:
Anmerkungen:
Diese Pressemitteilung wurde bisher 489 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Innovative Food Holdings Reports Fourth Quarter and Full Year 2015 Financial Results
"
steht unter der journalistisch-redaktionellen Verantwortung von
Innovative Food Holdings, Inc. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
