Calavo fiscal 3Q income mirrors '05 period

Sept. 7, 2006
Calavo Growers Inc has reported continued profitability in the fiscal third quarter despite a decrease in quarterly revenues.

Calavo Growers Inc, provider of fresh and processed avocados and other perishable food products, has reported continued profitability in the fiscal third quarter despite a decrease in quarterly revenues of about $9.7 million compared with the corresponding period in fiscal 2005.

For the quarter ended July 31, 2006, net income totaled $2.9 million, virtually unchanged from the corresponding period in the prior year. Net sales for the quarter were $79 million, versus a record $88.7 million in the year-earlier period.

Net income for the nine months rose to $4.5 million, compared with $2.8 million in the fiscal period a year earlier. Nine-month revenues totaled $197 million, virtually unchanged from $197 million in the similar fiscal 2005 period.

Gross profit for the nine months increased 27% to $22.3 million from $17.5 million in the previous period. Operating income grew 94% to $7.5 million from $3.9 million one year earlier.

About the Author

from staff and wire reports

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!

Sponsored Recommendations

Is your fleet ready for California's Clean Truck Check program? Our guide helps you navigate CARB compliance, avoid costly fines, and keep your trucks rolling. Learn how telematics...
Boost truck leasing profits with telematics insights! Reduce maintenance costs, improve uptime, and strengthen customer relationships. Learn how data drives success.
This free guide outlines simple steps for hiring and onboarding commercial drivers while ensuring that you meet Regulation Part 391 and maintain fully compliant driver qualification...
Ready to boost fleet efficiency by up to 50%? Learn how AI-powered dispatch and next-gen tech are transforming TMS workflows, improving driver planning, and streamlining operations...