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Innovative Food Holdings, Inc. (IVFH)
Innovative Food Holdings, Inc. is an industry leading specialty food platform. The company, through its subsidiaries, is a top nationwide provider of direct from source specialty foods, healthcare foods, gluten free foods, and artisanal foods, to the professional foodservice market. Perishable product is delivered direct to the company's kitchen the next day via overnight delivery. Non-perishable product is delivered direct to customers.
Innovative Food Holdings is based in Bonita Springs, Florida. The company's wholly-owned subsidiary is Artisan Specialty Foods. Innovative Food Holdings lists on the OTC Markets Group's OTCQB.
Innovative Food Holdings serves restaurants, hotels, country clubs, national chain accounts, casinos, and catering houses. Many of its products are used each day by a multitude of some of the leading professional chefs across the U.S. Innovative Food Holdings supplies chefs with innovative, organic, sustainable, and artisanal products sourced from all regions around the world. The company markets its products directly to the consumer, by way of its website at www.forthegourmet.com.
In the direct-to-chef foodservice market, the company's automated direct-to-chef platform provides efficient, cost effective, and transparent direct sourcing and distribution of more than 7,000 specialty food products delivered daily, to thousands of chefs across the country.
Available products include origin specific seafood, exotic meats and game, dry-aged meats, exotic fruits and vegetables, specialty chocolates, artisanal cheeses, and imported specialties. Available products also include caviar, wild and cultivated mushrooms, micro-greens, heirloom and baby produce, organic farmed and manufactured food products, estate-bottled olive oils, aged vinegars, and healthcare food products.
The company's Artisan Specialty Foods is a nationwide specialty food distributer, re-packer, and importer. Artisan serves hundreds of customers in the Chicago area. In addition, it serves as a nationwide fulfillment center for other Innovative Food Holdings subsidiaries operating in the foodservice and direct-to-consumer markets.
Recently, Innovative Food Holdings announced results for Q4 and the full year ended December 31, 2016. For Q4 2016, Revenue grew 16 percent to $9.7 million versus $8.4 million for Q4 of 2015 Net Income was $993,000 versus a loss of $59,000 for Q4 of 2015.
For the Full Year ended December 31, 2016, Revenue grew 15 percent to $35 million versus $30.6 million for the full year 2015. Net Income was $2.8 million versus a loss of $373,000 for the full year 2015.
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