Calavo Growers sees record sales for the fiscal year
The avocado and fresh food distributor said that for the three months ended April 30, net income jumped 34 percent to $12.9 million or 74 cents per share compared to the same quarter in 2016. Revenue jumped 23 percent to $270.2 million from $220.3 million for the same period in 2016 and operating income jumped to $20.8 million, rising 38 percent from $15.1 million in the second quarter of fiscal 2016.
“Our three principal business segments — Fresh, Renaissance Food Group and Calavo Foods — are executing well with each segment posting double-digit top line growth,” said Chairman and CEO Lee Cole in a statement.
Cole said the company’s Renaissance Food Group, which distributes packaged food products, delivered “exceptional revenue growth in the mid-20 percent range” with higher margins versus the prior year.
source: pacbiztimes.com
