Shares of Overhill Farms Inc. hit a 52-week high in midday trading Monday after the Los Angeles frozen food manufacturer reported record earnings.

Overhill reported first quarter net income of $1.5 million (10 cents per share), a 156 percent leap from $607,000 (4 cents) for the same period a year earlier. Sales were up 2.5 percent to $40.5 million.

“These record results for the quarter reflect our strengths in a number of key areas, including sales, product development, production, quality control and close attention to operating margins,” said James Rudis, chief executive of Overhill Farms.

The company expects annual sales to hit $200 million on a 12-month run rate by the third quarter.

Shares were up 11 percent to $5.40 in afternoon trading on the Amex.