Calavo Growers Inc, the Santa Ana CA-based distributor of avocados and other perishable food products, announced that revenues for the first quarter ended Jan 31, 2004, grew to a new high of $49.0 million from $44.2 million a year ago. The company recorded the 11% sales increase despite a lower contribution from its California fresh avocado operations in what is seasonally the year's weakest quarter.
However, Calavo experienced a net loss for the period of $294,000, compared with net income of $500,000 in the corresponding quarter a year ago. The company attributed this to higher expenses for transitioning processing operations to the new Uruapan processed-products facility and a $2 million sales decrease in California fresh avocados, mainly due to a late-starting harvest season.
