Calavo Growers, a US-based processed avocado products manufacturer and distributor, has reported that its net income for the fourth quarter ended 31 October 2012 increased by 69% to $6.1m, compared to $3.6m for the same period in 2011.
Net sales for the quarter decreased by 3.8% to $141.6m, compared to $147.3m for the corresponding period in the previous year. The company attributed the decline in sales to fall in avocados prices due to high fruit supply.
For the full year, net sales rose by 5.5% to $551m, up from $522m in 2011, while net earnings increased by 54.5% to $17m, compared to $11m in the earlier year.
Calavo Growers, established in 1924, sells its products to food distributors, produce wholesalers, supermarkets, convenience stores, and restaurants, as well as to retail customers.
Its brands include Calavo and RFG; and Avo Fresco, Bueno, Calavo Gold, Calavo Salsa Lisa, Salsa Lisa, Celebrate the Taste, El Dorado, Fresh Ripe, Select, Taste of Paradise, The First Name in Avocados, Tico, Mfresh, Maui Fresh International, Triggered Avocados, ProRipeVIP, Garden Highway Fresh Cut, Garden Highway, and Garden Highway Chef Essentials.
