Calavo Growers Inc. Reports Consolidated Earnings Results for the Fourth Quarter and Full Year Ended October 31, 2012
January 03, 2013 at 07:30 pm IST
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Calavo Growers Inc. reported consolidated earnings results for the fourth quarter and full year ended October 31, 2012. For the quarter, the company reported net sales of $141,552,000 compared to $147,349,000 for the same period a year ago. Operating income was $7,598,000 compared to $6,396,000 for the same period a year ago. Income before provision for income taxes was $8,092,000 compared to $6,128,000 for the same period a year ago. Net income was $6,116,000 compared to $3,588,000 for the same period a year ago. Net income attributable to the company was $6,160,000 or $0.42 per basic and diluted share compared to $3,639,000 or $0.25 per basic and diluted share for the same period a year ago.
For the full year, the company reported net sales of $551,119,000 compared to $522,529,000 for the same period a year ago. Operating income was $27,538,000 compared to $18,332,000 for the same period a year ago. Income before provision for income taxes was $28,002,000 compared to $18,204,000 for the same period a year ago. Net income was $16,947,000 compared to $10,955,000 for the same period a year ago. Net income attributable to the company was $17,052,000 or $1.15 per basic and diluted share compared to $11,068,000 or $0.75 per basic and diluted share for the same period a year ago.
Calavo Growers, Inc. is a provider of value-added fresh food in the avocado industry. The Company is engaged in marketing and distributing avocados, prepared avocados, and other perishable foods to retail grocery, foodservice, club stores, mass merchandisers, food distributors and wholesalers on a worldwide basis. It procures avocados from California, Mexico and other growing regions around the world. Through its various operating facilities, it sorts, packs, and/or ripens avocados, tomatoes and/or Hawaiian grown papayas, creates, process and packages a portfolio of healthy fresh foods, including fresh-cut fruit and vegetables, and prepares foods and process and package guacamole. The Grown segment consists of fresh avocados, tomatoes and papayas. The Prepared segment comprises all other products including fresh-cut fruits and vegetables, ready-to-eat sandwiches, wraps, saladsand snacks, guacamole, and salsa sold at retail and food service, as well as avocado pulp sold to foodservice.
CALAVO GROWERS, INC. 
