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Boulder Brands, Inc. (BDBD) SEC Filing 10-Q Quarterly report for the period ending Tuesday, March 31, 2015

Boulder Brands, Inc.

CIK: 1331301 Ticker: BDBD

Exhibit 99.1

 

 

Boulder Brands Announces 2015 First Quarter Results

 

Boulder, CO (May 7, 2015)

– Boulder Brands, Inc. (NasdaqGM: “BDBD”) today announced its financial results for the first quarter ended March 31, 2015. For the first quarter of 2015 compared to the equivalent period of 2014:

 

·Net sales increased 5.0% to $129.0 million, operating income increased 35.9% to $7.2 million, non-GAAP operating income decreased 6.2% to $9.6 million, and adjusted EBITDA decreased 1.8% to $17.4 million, and non-GAAP diluted earnings per share were flat to last year at $0.05.

 

·Consumption growth was 5.5% in the first quarter.

 

·GAAP diluted earnings per share for the first quarter of 2015 were $0.03, compared to $0.01 in last year’s first quarter.

 

·Excluding certain items, non-GAAP diluted earnings per share for the first quarter of 2015 were $0.05, as compared to $0.05 in last year’s first quarter.

 

·For 2015, the Company continues to expect net sales to be in the range of $550 million to $560 million, a range of approximately 6% to 8% net sales growth. The Company continues to expect adjusted EBITDA to be in the range of $78 million to $82 million and non-GAAP diluted earnings per share to be in the range of $0.25 to $0.29.

 

Chief Executive Officer Stephen Hughes stated, “The first quarter of 2015 was a solid initial step toward delivering on the expectations that we set out for the year. Net sales increased 7.6%, and consumption increased 18% in the Natural segment, demonstrating the continued resonance our Natural brands are having with consumers. Our Balance segment reported a net sales increase of 1.1%, driven by the momentum in our Earth Balance strategy and the impact of an earlier Easter on Q1 revenue. Overall, we are pleased with the first quarter and remain focused on delivering on our plan throughout the rest of 2015.”

 

2015 First Quarter Results

 

Total Company net sales in the first quarter of 2015 increased 5.0% to $129.0 million, compared to net sales of $122.9 million in the first quarter of 2014.

 

Net sales for the Company’s Natural segment increased 7.6% to $79.0 million in the first quarter of 2015 compared to $73.4 million in the first quarter of 2014, driven by EVOL’s net sales increase of 44.9%. The Company’s gluten-free brands – Udi’s and Glutino – reported net sales growth of 15.7% and a decline of 20.0%, respectively.

 

Net sales for the Company’s Balance segment increased 1.1% to $50.0 million in the first quarter of 2015 compared to $49.5 million in the first quarter of 2014, driven by Earth Balance. Earth Balance reported a net sales increase of 13.6% in the first quarter of 2015 compared to the first quarter of 2014.

 

The chart below highlights net sales, gross profit, gross margin, and brand profit (calculated as gross profit less marketing, selling and royalty expense (income), net) for the first quarters of 2015 and 2014, by the Company’s Natural and Balance segments.

 


The following information was filed by Boulder Brands, Inc. (BDBD) on Thursday, May 7, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Operations And Comprehensive Loss
Accounts Payable And Accrued Expenses
Accounts Payable And Accrued Expenses (details)
Accounts Payable And Accrued Expenses (tables)
Debt
Debt (details)
Debt (tables)
Debt - Maturities (details)
Earnings Per Share
Earnings Per Share (details)
Earnings Per Share (tables)
Financial Instruments And Fair Value Measurements
Financial Instruments And Fair Value Measurements (details)
Financial Instruments And Fair Value Measurements (tables)
General And Basis Of Presentation
General And Basis Of Presentation (details)
General And Basis Of Presentation (policies)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (tables)
Goodwill And Intangible Assets - Finite Lived Intangible Assets (details)
Goodwill And Intangible Assets - Goodwill (details)
Goodwill And Intangible Assets - Indefinite Lived Intangible Assets (details)
Income Taxes
Income Taxes (details)
Inventory
Inventory (details)
Inventory (tables)
Legal Proceedings And Contingencies
Legal Proceedings And Contingencies (details)
Property And Equipment
Property And Equipment (details)
Property And Equipment (tables)
Restructuring And Other Actions
Restructuring And Other Actions (details)
Restructuring And Other Actions (tables)
Segments
Segments (details)
Segments (tables)
Stock-based Compensation
Stock-based Compensation (tables)
Stock-based Compensation - Activity (details)
Stock-based Compensation - Narrative (details)
Stock-based Compensation - Restricted Stock Units (details)
Stock-based Compensation - Stock-based Compensation Expense (details)

Material Contracts, Statements, Certifications & more

Boulder Brands, Inc. provided additional information to their SEC Filing as exhibits

Ticker: BDBD
CIK: 1331301
Form Type: 10-Q Quarterly Report
Accession Number: 0001331301-15-000006
Submitted to the SEC: Thu May 07 2015 11:03:45 AM EST
Accepted by the SEC: Thu May 07 2015
Period: Tuesday, March 31, 2015
Industry: Food And Kindred Products

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