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Last $10.46 USD
Change Today +0.295 / 2.90%
Volume 148.2K
As of 10:30 AM 05/4/15 All times are local (Market data is delayed by at least 15 minutes).

inventure foods inc (SNAK) Key Developments

Inventure Foods, Inc. Postpones Earnings Release for First Quarter of Fiscal 2015

Inventure Foods, Inc. announced that it will postpone the first quarter fiscal 2015 earnings release and conference call originally scheduled for April 30, 2015 to allow for additional time to complete their financial results. The additional time is needed to complete the review of costs and expenses associated with the Company's voluntary product recall. The Company will announce the new earnings release and conference call date as soon as practical.

Inventure Foods, Inc. Initiates Precautionary Recall of Certain Varieties of Its Fresh Frozen Line of Frozen Vegetables

On April 23, 2015, Inventure Foods, Inc. announced that it has initiated a precautionary recall of certain varieties of its Fresh Frozen line of frozen vegetables, as well as select varieties of its Jamba At Home line of smoothie kits, due to the finding of Listeria monocytogenes, in its Jefferson, Georgia facility. Listeria is an organism that can cause infections in young children, frail or elderly people, and others with weakened immune systems. Although healthy individuals may suffer only short-term symptoms such as high fever, severe headache, stiffness, nausea, abdominal pain and diarrhea, listeria infection can cause miscarriages and stillbirths among pregnant women. To date, there are no known illnesses linked to consumption of Fresh Frozen IQF frozen vegetables or Jamba At Home smoothies. However, the company has decided to err on the side of utmost caution and issue a voluntary recall because Listeria monocytogenes was identified within its facility. The company expects to record costs associated with the recall, which are too early to ascertain, in the first quarter and additional costs in future quarters. The company expects to reverse the charges for any portion of such costs that are recovered from its existing insurance policies. Any recovery of losses will be recorded in the period in which such recovery is determined to be probable. While it is too soon to reliably estimate the impact of this recall on the Company's future sales of the Fresh Frozen brand, net revenues of the products affected by the recall are expected to be reduced for the second fiscal quarter of 2015 and potentially subsequent periods. The safety of its consumers is the company's number one priority and the Company is taking the appropriate steps to prevent this from happening again. The company is committed to ensuring that all of the products it sells are safe and meet the high quality standards.

Inventure Foods, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Inventure Foods, Inc., Q1 2015 Earnings Call, Apr 30, 2015

Inventure Foods, Inc. Introduces Rader Farms® Fresh Start Fusions

Inventure Foods, Inc. introduced Rader Farms® Fresh Start Fusions. This new line of strategically paired frozen fruits and vegetables has been premixed together to offer a new level of convenience for the health-conscious consumer who makes smoothies or other frozen beverages at home. Fresh Start Fusions feature only real fruit and vegetables, with no sweeteners, preservatives or other added ingredients. Rader Farms'Fresh Start Fusions will debut in three varieties, including Sunrise Refresh Fusion, Morning Vitality Fusion and Daily Power Fusion. The frozen fruit and vegetable blends will be available in grocery stores in eight-ounce packages yielding two, eight-ounce smoothies when blended as directed with water and/or fruit juice. The grocery packages have a suggested retail price of $2.99. A 48-ounce club store variety will also be available, providing six, eight-ounce smoothies for a suggested retail price of $9.99 per bag. Rader Farms Fresh Start Fusions may change the way consumers make homemade smoothies or juice blends by eliminating the need for fruit and vegetable preparation. Just as important, they also eliminate the risk of fresh ingredient waste and provide year-round availability. Fresh Start Fusions feature a simple ingredient panel and the bags have a clear "see-thru" window on the front of the package so consumers know exactly what is going into their smoothie. In addition, the ready-to-blend smoothie kits feature: Zero additives and no sugar or preservatives; An excellent source of vitamins, nutrients & antioxidants; Pre-cut frozen fruit and vegetables picked at the peak of ripeness and individually quick-frozen (IQF) to preserve freshness and nutritional value; Certified gluten-free, dairy-free, vegan and an excellent source of vitamins A and C; A delicious mix of fruits and vegetables provides endless options for smoothie recipes. Mix with milk or coconut water; add protein powder or yogurt, etc.

Inventure Foods, Inc. Provides Earnings Guidance for the Year 2015

Inventure Foods, Inc. provides earnings guidance for the year 2015. For the year, the company announces that incremental investments will have a negative impact on earnings in the range of $0.05 to $0.07 per diluted share. But even with incremental spend, expectation in the fullness of the year is that, the company will increase total earnings in 2015 versus 2014.

 

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