Key Developments For Smart Balance, Inc.
Smart Balance, Inc. (SMBL.O) (Consolidated Issue listed on NASDAQ Global Market)
Smart Balance, Inc. Comments On Q4 2009, FY 2010 Guidance
Smart Balance, Inc. announced that for fourth quarter of 2009, it expects net sales growth to be approximately 12% points lower than volume growth due primarily to introductory trade and consumer investments in new products and a lower average sales per case due to product mix. Gross profit is expected to increase in-line with volume growth as gross profit margin in the fourth quarter of 2009 to be 4% to 5% points higher than last year. The Company's initial outlook for fiscal 2010 reflects net sales growth of 15% versus fiscal 2009 as a greater increase in case volume driven by new products and the national expansion of milk distribution will be partially offset by related introductory investments and a lower average sales per case due to product mix. Operating income as percent of net sales will be consistent with fiscal 2009 due to growth in gross profit and leveraging of operating costs. According to Reuters Estimates, analysts were expecting the Company to report revenues of $70.79 million for fourth quarter of 2009; revenues of $302.82 million for fiscal 2010.
Smart Balance, Inc. Reaffirms FY 2009 Gross Profit Guidance
Smart Balance, Inc. announced that for fiscal 2009, it expects gross profit as a percent of net sales is expected to improve to 45%+ as higher promotion and introduction costs will likely partially offset improvements in product ingredient costs versus 2008.
Smart Balance, Inc. Updates H1 2009 Outlook
Smart Balance, Inc. announced that for the first half of 2009, it expects percentage growth in net sales versus fiscal 2008 to be high teens to mid-twenties. Gross profit as a percent of net sales is expected to improve to 45%+ as input costs for the year are expected to be lower than fiscal 2008. According to Reuters Estimates, analysts were expecting the Company to report revenues of $60.1 million and $60.2 million for the first and the second quarters of 2009 respectively.
Smart Balance, Inc. Issues H1 2009 Revenue Guidance Below Analysts' Estimates
Smart Balance, Inc. announced that for first half of 2009, it expects net sales growth of 19%-25%. The Company reported revenues of $51 million in first quarter 2008 and revenues of $48 million in second quarter of 2008. According to Reuters Estimates, analysts on average are expecting the Company to report revenues of $64.00 million for the first quarter of 2009 and revenues of $64 million for the second quarter of 2009.
Smart Balance, Inc. Reaffirms H2 2008 Revenue Guidance
Smart Balance, Inc. announced that its outlook for the second half of 2008 continues to reflect growth in net sales on an operating basis in line with its long-term target of approximately 30%. The Company's target for second half sales growth is unchanged at 25%-35% versus 2007. The fourth quarter growth rate is expected to be lower than third quarter growth rate of 39%. According to Reuters Estimates, analysts are expecting the Company to report revenue of $53.07 million for third quarter 2008 and $64.79 million for fourth quarter 2008.
