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Boulder Brands, Inc. (BDBD) SEC Filing 10-Q Quarterly report for the period ending Wednesday, September 30, 2015

Boulder Brands, Inc.

CIK: 1331301 Ticker: BDBD

Exhibit 99.1

 

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Boulder Brands Announces 2015 Third Quarter Results

Boulder, CO (November 5, 2015)

– Boulder Brands, Inc. (NasdaqGM: “BDBD”) today announced its financial results for the third quarter ended September 30, 2015. For the third quarter of 2015 compared to the equivalent period of 2014:

 

    Net sales decreased 0.7% to $132.9 million. Foreign exchange rates negatively impacted the third quarter of 2015 by approximately $1.5 million.

 

    Consumption, defined as sell-through at all channels, increased 0.5% in the third quarter.

 

    GAAP operating income was $3.3 million. Excluding certain items, non-GAAP operating income decreased 0.8% to $13.2 million.

 

    Adjusted EBITDA decreased 6.2% to $19.6 million

 

    GAAP diluted earnings per share for the third quarter of 2015 was $0.01, compared to diluted loss per share of $2.17 in last year’s third quarter.

 

    Non-GAAP diluted earnings per share for the third quarter of 2015 were $0.08, as compared to $0.08 in last year’s third quarter.

 

    The Company maintained its 2015 earnings outlook range of $0.20 per share to $0.25 per share.

Jim Leighton, Interim Chief Executive Officer and Chief Operating Officer, stated, “Our organization is committed to being more efficient in our overall cost structure, more effective in managing our brands and products, and more balanced in customer and consumer marketing. Our third quarter results demonstrate our ability to implement these changes and sequentially improve results, as we have realigned our organization, focused on operational effectiveness and stabilized sales. As a result, our sales and overall profitability improved meaningfully in the third quarter compared to our second quarter. Our team will continue moving swiftly to address specific business challenges and opportunities, while setting the stage to deliver sustainable long-term growth.”

2015 Third Quarter Results

Total Company net sales in the third quarter of 2015 decreased 0.7% to $132.9 million, compared to net sales of $133.9 million in the third quarter of 2014.

Net sales for the Company’s Natural segment increased 6.6% to $89.0 million in the third quarter of 2015 compared to $83.5 million in the third quarter of 2014. The Company’s gluten-free brands – Udi’s and Glutino – reported net sales growth of 7.7% and a decline of 5.9%, respectively. EVOL’s net sales increased 24.8%.

Net sales for the Company’s Balance segment decreased 12.8% to $43.9 million in the third quarter of 2015 compared to $50.4 million in the third quarter of 2014. Earth Balance reported a net sales increase of 3.6% in the third quarter of 2015 compared to the third quarter of 2014.

 

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The following information was filed by Boulder Brands, Inc. (BDBD) on Thursday, November 5, 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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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 Income 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)
Derivatives, Financial Instruments And Fair Value Measurements
Derivatives, Financial Instruments And Fair Value Measurements (details)
Derivatives, Financial Instruments And Fair Value Measurements (tables)
Derivatives, Financial Instruments And Fair Value Measurements - Derivatives (details)
Derivatives, Financial Instruments And Fair Value Measurements - Narrative (details)
Earnings (loss) Per Share
Earnings (loss) Per Share (details)
Earnings (loss) Per Share (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 - Narrative (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 (tables)
Restructuring And Other Actions - Narrative (details)
Restructuring And Other Actions - Restructuring And Related Costs (details)
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: 0001331301-15-000012
Submitted to the SEC: Thu Nov 05 2015 10:17:15 AM EST
Accepted by the SEC: Thu Nov 05 2015
Period: Wednesday, September 30, 2015
Industry: Food And Kindred Products

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