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BONITA SPRINGS — Specialty foods distributor Innovative Food Holdings says sales grew 22% in the first quarter compared with the same quarter one year ago.
Innovative Food reported net income of $380,646 on revenues of $8 million in the quarter ending March 31. That compares with a net loss of $142,947 on revenues of $6.6 million in the same quarter in 2015.
Innovative Food distributes more than 7,000 specialty items to chefs nationwide. The company is headquartered in Bonita Springs and its stock is publicly traded (symbol: IVFH; recent price, $0.43).
“We strongly believe that the current stock price does not adequately reflect the potential of our business and our position within the fast-growing specialty food sector,” says Sam Klepfish, CEO of Innovative Food Holdings, in a statement. “We look forward to continuing to focus on growing top and bottom line results with a goal of driving increased value for Innovative Food Holdings' shareholders.”
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