Innovative Food Holdings Inc (IVFH)

[natstocks]

A very rough estimate of 2014 earnings:

I made some rough and simplistic assumptions, just because I wanted to start to try to get an idea of what IVFH might be capable of doing.

I would be very interested in what anyone on this board can contribute to make these estimates more realistic. Would be interesting to see how a crowdsourced Estimate ends up comparing to the actual results.



Assumptions in model:

1. Revenue trends up from Q1 to Q4. I gave a growth line a little less steep than last year, which was in turn less steep than the previous year. However, I bumped Q2 up higher and trended from there, because Sam has stated that the recent quarter was impacted by the cold winter.

2. Gross margin slightly improves to 33.5%. The company has seemed pretty confident they can improve GM, and indeed they have in the past. They are still calling for a likely slight improvement.

3. SG&A - this assumption could be way off. In the Q1 release, company said it expected SG&A to remain steady for the rest of the year. Can it really remain steady as sales increase throughout the year? Am I taking the "remain steady" comment too precisely? As you can see, SG&A is the same for Q2-Q4 as it was in Q1.

4. Interest expense - I just took the average interest expense from the past 5 quarters and got $548,000, and made that the quarterly interest for the rest of the year.