Innovative Food Holdings Inc (IVFH)

[Coolhandluke13]

My take on Q4 after the PR:

Agreed that it is nothing to write home about but was solid. Biggest concern going forward is the SG&A % of revenues. Hopefully it can drop from the 26% currently and it's not all fixed investments.

If the Specialty Foodservice category plus national brand is really the "core" then maybe that came back. USFood Service was up over 4% from 4Q2017. Be nice to have solid growth back at the core. IGourmet/Mouth were up 23% compared to IGourmet standalone in 4Q2017. IGourmet/Mouth were up almost 20% for 2018 compared to IGourmet standalone 2017.

With out $500K in Mouth acquisition costs in Q3 and IGourmet acquisition costs in Q1, the EPS is just short of 7 cents with core at about 9 cents while losing 2 cents on IGourmet and Mouth.

If they can get 3% core growth and 25% IGourmet/Mouth growth in 2019 then they should be at 8-9 cents range in earnings. With better shareholder relations it should be at least in the 70-80 cent range.

We will see, we have been disappointed before both on earnings and investor relations before.