Fiscal harvest disappoints Calavo Growers
Mar 10, 2005 9:40 AM, from staff and wire reports
Calavo Growers Inc, the Santa Ana CA-based packer and distributor of avocados and other perishable fruit products, reported a net loss for the fiscal 2005 first quarter of $1.5 million on lower revenues of $47.7 million. Revenues were constrained by a smaller volume of California fruit due to severe winter storms and an unanticipated surge in seasonal imports from Chile during the period. Results for the three months ended Jan 31, 2005, compare with a net loss of $294,000 on revenues of $49.0 million in the first quarter a year earlier.
"While the fiscal first quarter is historically our smallest, the results in the most recent period fall well beneath our expectations," said Lee E Cole, chairman, president, and chief executive officer of the firm.
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