Calavo fiscal 3Q income mirrors '05 period
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.
