Published online: Aug 11, 2009
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The Inventure Group, Inc., a leading specialty snack food manufacturer, recently reported financial results for the second quarter ended June 27, 2009, highlighted by double-digit increases in revenue and earnings along with growth in both its Snack and Rader Farms divisions.
Inventure generated net revenue of $33.4 million for the second quarter of 2009, up $4.2 million, or 14.3% compared to $29.2 million for the same period in 2008.
The Snack Division contributed net revenues of $21.7 million, up 13.5 percent versus the same period last year. The company attributed the increase in net revenue in the Snack Division to higher year-over-year product sales across the majority of its products including Boulder Canyon Natural Foods (up 25.7 percent), T.G.I. Friday's (up 3.5 percent), BURGER KING (up 45.9 percent) and Private Label (up 155 percent). These increases were partially offset by a year-over-year decline in sales at the Poore Brothers brand.
Terry McDaniel, President and CEO of the Inventure Group on the outlook for the snack sector activities:
"Sales of our BURGER KING and Private Label products remain strong and we increased revenues of T.G.I. Friday's for the second quarter in a row, an indication of our success in introducing new items as well as introducing these products into the dollar store channel."