Boulder Brands stock up on strong 2Q earnings

BOULDER – Natural foods company Boulder Brands Inc. (Nasdaq: BDBD) has seen its stock rise 10.5 percent Thursday following a second-quarter earnings release that showed an 18.7-percent increase in revenue versus the same period a year ago.
The Boulder-based company’s shares were trading at $13.05 by mid-afternoon, up $1.24 from the previous day’s close.
Boulder Brands’ offerings include the Glutino, Udi’s Gluten Free, Earth Balance, Level Life, Evol and Smart Balance brands.
Revenue for the period ending June 30 was $131.3 million, up from $110.7 million a year ago.
Net income was $2.8 million, or 4 cents per diluted share, down slightly from profit of $3.1 million, or 5 cents per share in the second quarter last year.
“We executed our plan in the quarter and we are on track to reach our full-year targets,” Boulder Brands chairman and chief executive Stephen Hughes said.
Hughes said profits in the first half of the year have been muted in part due to elevated egg-white prices. But he said the company has egg-whites locked in for the rest of the year.
“The combination of continued strong organic growth and a rebound in gross margins should result in a strong finish to 2014,” Hughes said.

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