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Smart Balance – Affirmed previously announced outlook for 2011 and 2012

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Smart Balance, Inc. (Nasdaq: SMBL) affirmed its previously announced outlook for 2011 and 2012. For 2011 the Company affirmed net sales growth in the 10% to 12% range ($266 million to $271 million) and cash operating income growth in the 18% to 20% range ($39 million to $40 million).

For 2012, the Company affirmed net sales growth in the 19% to 23% range ($320 million to $330 million) and cash operating income growth in the 11% to 19% range ($44 million to $47 million).

The company also announced three new executive appointments and affirmed its previously announced outlook for 2011 and 2012. Terry Schulke, previously Executive Vice President and General Manager, Commercial Operations, has been promoted to President and Chief Operating Officer. Peter Dray, previously Executive Vice President, Operations and Product Development, has been promoted to Chief Innovation Officer. Christine Sacco, previously Vice President, Controller and Principal Accounting Officer, has been promoted to Chief Financial Officer, Treasurer; Executive Vice President and Chief Financial Officer, Alan S. Gever, will be leaving Smart Balance to pursue other opportunities.


Christine Sacco has served as Vice President, Controller since January 2008 and has been responsible for managing the Company’s accounting operations, corporate reporting functions, and audit committee responsibilities. Ms. Sacco also served as the principal accounting officer since January 1, 2011, and will continue those responsibilities on an interim basis.

Commenting on the appointment of Christine Sacco to Chief Financial Officer, Stephen Hughes, Chairman and CEO, stated “Chris has been invaluable in leading the Company’s accounting team, managing our financial reporting process and interacting with the board of directors.

Since joining Smart Balance, as Financial Controller, Chris has shown great ability, aptitude and commitment to the success of the Company. I am delighted that she will be stepping into the CFO position.”

Remarking further on the new executive appointments, Mr. Hughes, said, “The broadening of responsibilities and streamlining of our senior leadership team is a critical step on the path toward fulfilling our ambition as a company and delivering our growth objectives. I look forward to working closely with this team, to continue to drive our future growth and deliver on our objectives.”

Regarding Alan Gever, Mr. Hughes stated, “Al has been a valued member of the Smart Balance leadership team for the past four years. He successfully led the transformation of the finance and information technology functions from a private company to a fully‐functioning public company and enhanced our financial flexibility considerably over his tenure. On behalf of Smart Balance, I thank Al for all his contributions and wish him well.”

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edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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