Avocados help Calavo set quarterly record
Calavo Growers Inc, the Santa Ana CA-based packer and distributor of avocados and other perishable fruit products, reported fiscal 2004 third-quarter and nine-month results.
For the three months ended July 31, 2004, net revenues climbed to $83.3 million, the highest quarterly total in company history, up from $81.4 million in the same period of fiscal 2003. Third-quarter net income approximated $3.1 million. This compares with net income of $3.2 million in the year-earlier third quarter.
Calavo said its profitable financial results in the recently concluded quarter are principally attributable “to a strong performance in the company’s California avocado segment, which experienced significant volume growth.”
Net revenues for the first nine months of fiscal 2004 rose 14% to a record $208.8 million, from $183.0 million in the corresponding period a year earlier. Nine-month net income was $5.1 million, which compares with $5.5 million in the corresponding period a year ago.
