Boulder Brands outlines 2014 for investors
Last Updated: 15:32 March 7, 2014
Fresh off of a glowing 2013 earnings report that showed profit had more than doubled versus the year before, the Boulder-based food brand company this week gave investors a peek into the year ahead at an analyst day hosted at its corporate headquarters.
"We are very excited about the profitable, long-term growth strategies we have across our entire business," Boulder Brands' chairman and chief executive Stephen Hughes said in a press release.
Among the key pushes for 2014, Boulder Brands said it will expand gluten-free products in all regions - the United States, Canada and the United Kingdom - and in all channels.
The revitalization of the spread business has already begun, with Boulder Brands announcing earlier this week that it would transition its Smart Balance spreads to ingredients that are free of genetically modified organisms, or GMOs.
Other objectives for Boulder Brands include:
- Leveraging its frozen platform through the distribution of EVOL frozen foods and the launch of Udi's frozen entrees. Boulder Brands purchased Boulder-based EVOL Foods in December for $48 million.
- Strengthen the Earth Balance brand through broader distribution and new products.
- Expand Level Life distribution through the launch of bars and shakes in the U.S.
- Improve long-term profitability through near-term investments.
Boulder Brands last week reported 2013 revenue of $461.3 million and net income of $10.4 million. The company recorded profit of $4.9 million in the fourth quarter.
In the earnings report, the company projected revenue to keep increasing rapidly to $550 million in 2014.
Boulder Brands' share price has leapt considerably in the last week and a half, from $13.83 per share on Feb. 26 to $16 per share in late afternoon trading on Friday.
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