Revenue during the quarter dropped 7.72 percent to $63.36 million from $68.66 million in the previous year period. Gross margin for the quarter contracted 157 basis points over the previous year period to 9.08 percent. Operating margin for the quarter stood at negative 29.82 percent as compared to a negative 2.40 percent for the previous year period.

Operating loss for the quarter was $18.90 million, compared with an operating loss of $1.64 million in the previous year period.

However, the adjusted EBITDA for the quarter stood at negative $1.58 million compared with $0.60 million in the prior year period. At the same time, adjusted EBITDA margin stood at negative 2.50 percent for the quarter compared to 0.88 percent in the last year period.

"In 2016, we made progress on our efforts to strengthen our business to better position the Company to achieve the revenue and profit growth we believe the Company is capable of achieving over the long term," said Terry McDaniel, Chief Executive Officer of Inventure Foods. "On an annual basis, we benefited from increased distribution and velocity gains for our key Boulder Canyon and Radar Farms brands. At the same time, we took decisive steps during the year to manage our business despite the challenges we faced."

Debt moves up marginally 
Inventure Foods, Inc. has witnessed an increase in total debt over the last one year. It stood at $115.14 million as on Dec. 31, 2016, up 3.66 percent or $4.06 million from $111.08 million on Dec. 26, 2015. Total debt was 63.45 percent of total assets as on Dec. 31, 2016, compared with 50.85 percent on Dec. 26, 2015. Debt to equity ratio was at 4.86 as on Dec. 31, 2016, up from 2.12 as on Dec. 26, 2015.