IVFH .91 still offers good value:
MKT cap $6 mil
OS 6.4 mil
Rev: $11 mil (first 6 months of 2013
>>Straight from their corporate website: “Food Innovations is a Chef-driven, Chef-operated company dedicated to assisting culinary creativity by supplying the best specialty perishables and non perishables available in the world.” When you put people in charge of a business who have been on the other side of the table in their previous ventures, what you usually come up with is perfection.
During the course of 2012, Innovative Food Holdings found a way to beat the recession and virtually destroyed their 2011 numbers. During the year ended December 31, 2012, sales increased by $7,057,674, or approximately 61%, to $18,610,487 versus $11,552,813 for the 12 months ended December 31, 2011. A major portion of the increase, $3,406,391, or 29.5% f the increase in sales, came due to the company’s acquisition of Artisan. The rest was due to a significant increase in sales of specialty items, and smaller increases in meat and game and cheese products.
While that’s is all fine and dandy, 2013 is on pace to beat those numbers by about $4,000,000.
For the 3 and 6 months ended June 30, 2013, sales for Innovative Food Holdings reported sales of $5,518,949 and $11,126,270, respectively, as compared to $4,352,871 and $7,638,178 for the same respective periods in 2012. At the same time, total operating expenses have barely budged increasing to $1,208,343 for the 3 months ended versus $1,122,172 for the same period last year, and $2,408,957 for the 6 months ended versus $1,781,809 for he same period last year.
An increase in half year revenues of roughly $3.5 million with an increase in total operating costs of just about $620,000 is pretty indicative of a Company who has their ship together.
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