Calavo Growers Q3 revenue increases to $114.6m
Calavo Growers, a manufacturer and distributor of prepared foods in the US, has reported revenues of $114.6m in the third quarter of fiscal 2010, compared to $106.3m in the same quarter last year.
The company has posted net income of $5.9m or $0.41 per diluted share, an increase of 141% compared to $2.5m or $0.17 per diluted share in the prior year quarter. Operating income for the quarter was $9.76m, compared to $4.08m in the last year quarter.
The company said that third-quarter sales in the CalavoFoods business segment advanced 20% to $13.9m from $11.6m in the year-earlier period. Segment sales benefited from volume growth of both ultra-high-pressure guacamole and other prepared avocado products.
Calavo chairman, president and CEO Lee Cole said that the company continues to successfully execute unit-driven business model—moving additional volumes through the existing infrastructure and continuing to diversify its sourcing and product line-ups. The most recent results are both gratifying and in line with current-year expectations.
For the nine months period, the company has posted net sales of $291.11m, compared to $263.82m in the last year period. Operating income for the period was $21.10m compared to $18.64 in the prior year period.
The company has generated net income of $13.01m or or $0.89 per diluted share for the nine-month period, compared to $11.30 or $0.78 per diluted share in the corresponding period last year.
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