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Business Observer Thursday, Mar. 24, 2011 11 years ago

IFH posts record revenues

Naples-based Innovative Food Holdings drew $9.9 million in 2010 revenues.

NAPLES — Innovative Food Holdings Inc. (symbol: IVFH), a national food product marketer and purveyor, earned $9.9 million in revenues in 2010, its best year by that metric.

The Naples-based firm's revenues have continued to grow through the recession, from $6.7 million to $7 million, to $7.6 million between 2007 and 2009. That growth was highlighted in a feature story in a July issue of the Business Review.

Innovative's 2010 revenues led to an operating profit of roughly $381,000, up from $181,000 a year ago, according to a company statement. Innovative ended the year with a $500,000 cash balance.

Innovative serves roughly 16,000 customers. Its wholly owned subsidiary, For The Gourmet Inc., is based on a Web business that saw 290% over-the-year growth in revenues.

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