The Inventure Group Inc. (SNAK)

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The Inventure Group, Inc. Announces First Quarter 2008 Results
PHOENIX, April 23, 2008 (PRIME NEWSWIRE) -- The Inventure Group, Inc. (Nasdaq:SNAK) today reported financial results for the first quarter ended March 29, 2008.

Net revenues for the first quarter of fiscal 2008 were $26.2 million, representing an increase of 54% compared to the first quarter of fiscal 2007. Excluding the impact of Rader Farms(tm), which contributed $9.6 million of net revenue in the quarter, the snack division revenue was $16.6 million, representing a decrease of 2.5% as compared to the snack division revenues in the same period of last year. The positive impact of price increases implemented during the quarter, the addition of BURGER KING(tm) potato snack products and the growth in Boulder Canyon(tm) Natural snack products ("Boulder") of 27% as compared to the same period of last year were all offset by a decrease in revenues from TGI Friday's(r) salted snacks.

Key Financial Metrics:



* Gross Profit was $5.1 million, representing an increase of 64% and
1.2 percentage points as a percent of Net Revenue compared to $3.1
million of gross profit recognized in the same period of last year.
Key drivers include Rader Farms(tm), which contributed $1.9 million
of gross profit, price increases implemented within the snack
division and the impact of a continuous improvement program.

* Selling, General and Administrative ("SG&A") expenses increased
$0.9 million as compared to the first quarter of fiscal 2007 but
decreased as a percentage of net revenues to 14.6% as compared to
17.1% in the same period of last year. The acquisition of Rader
Farms(tm), while adding some overall SG&A costs, is the main cause
of the decrease in SG&A as a percent of net revenues.

* Operating Income of $1.3 million was 569% higher and 3.7 percentage
points higher as a percent of Net Revenue than the $0.2 million of
operating income recognized in the first quarter of fiscal 2007.

* Net Income was $0.4 million, or 2 cents per share, an increase of
290% compared to $0.1 million and 1 cent per share for the same
period of last year.

* Earnings before interest, taxes, depreciation and amortization
("EBITDA") was $2.0 million for the quarter, an increase of 260%
and 4.4 percentage points as a percent of Net Revenue as compared
to the prior year. A table reconciling EBITDA to net income is
presented at the end of the condensed consolidated financial
statements included in this release.

* Total Debt was reduced by $2.6 million as compared to year end 2007
as a result of the strong financial returns and a focus on managing
working capital.

"We are very pleased with our performance in the first quarter of this year," noted Eric Kufel, CEO of the Inventure Group. "We have seen improvement in all of our financial benchmarks for the quarter and this was attributable to a number of factors, including: Rader Farms(tm) continuing to deliver meaningful revenue and profit growth for the company; the snack division price increases have improved margins from last year; the Boulder brand continues to perform well, up 27% in the quarter versus last year's first quarter; and the BURGER KING(tm) potato snack products have shown promising results thus far and a further roll out is planned for the second quarter and beyond. Operations execution was excellent, as plant costs per pound decreased from the same period of last year. Finally, our focus on working capital management has allowed us to reduce overall debt by $2.6 million in just one fiscal quarter."

Kufel continued, "The one challenge for the quarter was lower sales in the TGI Friday's(r) snack business, down 19% as compared to the prior year. We couldn't overcome the increase in sales occurring at the very end of last year in advance of our price increases. We continue to focus significant energy and resources on this business with new products, geographic expansion and new outlets.

"In summary, our overall financial performance was significantly improved in the first quarter. Looking forward we plan on a continued double digit revenue growth for Rader Farms(tm) by adding new customers and new branded products rolling out this summer; further roll out of BURGER KING(tm) to additional channels as well as adding at least one additional flavor; further double digit growth on Boulder Canyon(tm), and a continued focus on operations and managing costs."

About The Inventure Group, Inc.

With manufacturing facilities in Arizona, Indiana and Washington, The Inventure Group is a marketer and manufacturer of Intensely Different(tm) specialty brands in indulgent and better-for-you food categories under a variety of Company owned or licensed brand names, including T.G.I. Friday's(r), BURGER KING(tm), Rader Farms(r), Boulder Canyon(tm) Natural Foods, Poore Brothers(r), Tato Skins(r) and Bob's Texas Style(r). For further information about The Inventure Group or this release, please contact Steve Weinberger, Chief Financial Officer, at [phone], or logon to http://www.inventuregroup.net.