Freshpet Reports Wider Than Estimated Q3 Loss

(RTTNews) - Freshpet, Inc. (FRPT) reported a net loss for the third quarter of $12.4 million or $1.19 per share, compared to a net loss of $8.6 million or $0.83 per share for the year-ago quarter.

Excluding items, adjusted net loss for the third quarter was $1.5 million or $0.14 per share, compared to an adjusted net loss of $4.3 million or $0.41 per share for the same quarter last year.

Net sales for the third quarter increased 34.9% to $22.5 million from $16.7 million a year ago, driven by an increase in Freshpet fridges to 12,970 from 10,269 in the third quarter of 2013.

Analysts polled by Thomson Reuters expected the company to report a loss of $0.12 per share on revenue of $22.51 million for the third quarter. Analysts' estimates typically exclude special items.

Looking forward, the company forecasts full year 2014 net sales of $85.7 million to $86.7 million. Analysts currently expect the company to post revenue of $85.71 million for the full year 2014.

Trading of Freshpet shares commenced on The Nasdaq Stock Market on November 7 following the company's initial public offering.