Calavo's sales hit lofty heights in fiscal 2Q

Calavo Growers Inc, the Santa Ana CA-based distributor of avocados and other perishable food products, reported revenues and net income climbing to historic highs in the second quarter of fiscal 2004.

For the three months ended April 30, 2004, net income advanced 35% to $2.3 million from $1.7 million in the same period a year ago.

Propelled by strong year-over-year sales growth in both its California Avocado and International segments, net revenues jumped 33% in the recently concluded period to $76.4 million from $57.4 million posted in the same quarter of fiscal 2003.

For the first half of fiscal 2004, net income totaled $2.0 million on revenues of $125.5 million. This compares with net income of $2.2 million on $101.6 million net revenues posted in the initial six months of fiscal 2003.