CEO Hughes Reviews Strategies and Progress
NEW YORK, Dec. 11 /PRNewswire-FirstCall/ -- Smart Balance, Inc. (Nasdaq: SMBL) announced that Stephen Hughes, Smart Balance Chairman and CEO, spoke at a meeting of the Consumer Analyst Group of New York (CAGNY) in New York, NY, at noon EST on Thursday, December 11, 2008.
Hughes spoke to financial analysts at the meeting about the Company's focus on the strategic leverage of its business model, progress since the May 2007 acquisition of GFA Brands and potential entries into new food categories. "We believe our virtual business model provides the opportunity for sustainable competitive advantage by leveraging the strength of the Smart Balance(R) brand, the experience of our small, focused internal team, and the assets and capabilities of our strategic external partners," said Hughes. "We have made considerable progress in building the Company's capabilities toward supporting a $500 million and ultimately a $1 billion dollar business. An example of strategic partnering is our research and development agreement with Brandeis University to help us enter into new categories which will provide growth in future years."
As part of its mission to provide superior tasting heart healthier alternatives, the Company has introduced exciting new products with added Omega-3's in the spreads category this year: buttery spreads with added Omega-3, extra virgin olive oil buttery spreads with Omega-3 and three varieties of a 50/50 butter/Smart Balance(R) buttery spread blend in stick format. In the first quarter of 2009, the Company will introduce Smart Balance(R) Heart Right(TM) buttery spread varieties with the added benefit of cholesterol reducing plant sterols. The Company will also introduce new varieties of Smart Balance(R) peanut butter sweetened with agave nectar.
A copy of the presentation is available within the investor center of the Company's corporate website, www.smartbalance.com.
Statements made in this press release that are not historical facts, including statements about the Company's plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may include use of the words "expect", "anticipate", "plan", "intend", "project", "may", "believe" and similar expressions. Forward-looking statements speak only as of the date they are made, and, except for the Company's ongoing obligations under the U.S. federal securities laws, the Company undertakes no obligation to publicly update any forward-looking statement, whether to reflect actual results of operations, changes in financial condition, changes in general economic or business conditions, changes in estimates, expectations or assumptions, or circumstances or events arising after the issuance of this press release. Actual results may differ materially from such forward-looking statements for a number of reasons, including those risks and uncertainties set forth in the Company's filings with the SEC and the Company's ability to:
About Smart Balance Inc.
Smart Balance, Inc. (Nasdaq: SMBL) is committed to providing superior tasting heart healthier alternatives in every category it enters by avoiding trans fats naturally, balancing fats and/or reducing saturated fats, total fat and cholesterol. The company's products include Smart Balance(R) Buttery Spreads, Milk, Butter Blend Sticks, Cream Cheese, Peanut Butter, Microwave Popcorn, Cooking Oil, Mayonnaise, Non-Stick Cooking Spray and Cheese. For more information about products and the Smart Balance(TM) Food Plan, visit http://www.smartbalance.com.
-- raise prices as fast as commodity costs increase; -- introduce and expand distribution of new products; -- meet marketing and infrastructure needs; -- meet long-term debt covenants; and -- continue to grow net sales in a competitive environment with rising costs and an increasingly price sensitive consumer.
SOURCE Smart Balance, Inc.