Food purveyor swings to profit

NAPLES — Innovative Food Holdings reported net income rose to nearly $1.5 million on revenues of $11.5 million in 2011 following an unprofitable year in 2010, when it reported a net loss of $2.1 million.

IFH, which provides restaurants with gourmet foods such as sashimi-grade tuna, heirloom tomatoes and exotic mushrooms, says revenues rose 17% in 2011 compared with the prior year because of increased sales of specialty items.

IFH says it shipped 99,000 packages in 2011, a 40% increase over 2010. Its customer base of chefs now numbers 24,000. In December, IFH launched a new website for retail customers.

Click here to read the Business Review's profile of the company in June 2010.