This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

Smart Balance's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SMBL

With that, I’ll turn the call over to Steve.

Steve Hughes

Thank you, Carol and good morning everyone. Let me provide you the agenda for our call this morning. I’ll begin with a high level highlights for our second quarter results, as well as some specifics on our retail and consumer activity in the quarter.

Chris will then review the second quarter financials, our raised outlook for 2012 and a preliminary outlook for 2013. I’ll then close the call with a review of what look forward to in this back half of 2012, and then take questions. With that, onto the quarter, second quarter results.

We’re pleased with our second quarter results which were in line with our expectations and continue to reflect the impact of our key strategies. Let me review the quarter by highlighting with our key strategies accomplishments. First with our natural growth platform, Glutino and Earth Balance both at strong quarters. A quick comment on Glutino.

Glutino is at a store takeaway remains strong at 31% growth on average for the last 12 weeks period, ending July 7.

Our net sales were just strong at plus 31%. As we completed the transition in our promotional strategy from (inaudible) performance base, inventory to distributors have balanced and order patterns have begun to track retail sales.

We’re approaching the one year anniversary since acquiring Glutino and the work our financial, operations, sales and marketing teams have done on integration, initial changes at Glutino are making good strives. Couple of highlights for the second quarter.

From a sales perspective, the focus is on growing distribution in all three key customer channels, natural grocery and mass in the U.S. and Canada leveraging our strong top relationship. We’re keenly focused on increasing the number of Glutino items, we sell in the conventional channel, which consist of U.S., grocery and mass. A top to top meetings with retailers are intended to establish Glutino as the proven destination grocery brand for the Glutino free shopper. In turn, we’re presenting a merchandizing strategy that focuses on a dedicated Glutino free grocery shelf, anchored by Glutino.

3 of 4

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,827.75 +12.81 0.07%
S&P 500 2,072.83 +5.80 0.28%
NASDAQ 4,787.3170 +29.0650 0.61%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs