calavo growers inc (CVGW) Snapshot

Calavo Growers Inc. announced consolidated earnings results for the second quarter and six months ended April 30, 2013. For the quarter, the company reported operating income of $3,346,000, income before provision for income taxes of $3,264,000, net income of $2,193,000 and net income attributable to company of $2,213,000 or $0.15 per diluted share on net sales of $166,336,000 against operating income of $7,077,000, income before provision for income taxes of $7,235,000, net income of $2,535,000 and net income attributable to company of $2,548,000 or $0.17 per diluted share on net sales of $138,992,000 a year ago period. Fiscal 2013 second quarter revenues climbed nearly 20% on the strength of sharply higher sales in each of the company's three principal business segments. Net income in the most-recent quarter declined year over year as a result of current initiatives to expand fresh avocado category leadership, which the company said it expects will contribute positively to operating results moving forward. For the six months, the company reported operating income of $7,649,000, income before provision for income taxes of $7,453,000, net income of $4,874,000 and net income attributable to company of $4,920,000 or $0.33 per diluted share on net sales of $305,835,000 against operating income of $11,485,000, income before provision for income taxes of $11,582,000, net income of $5,187,000 and net income attributable to company of $5,227,000 or $0.35 per diluted share on net sales of $256,386,000 a year ago period.

Calavo Growers Inc. Presents at Stephens Spring Investment Conference, Jun-04-2013 10:00 AM. Venue: The New York Palace Hotel, New York, New York, United States.

Calavo Growers Inc. announced that it has created FreshRealm, LLC, a technology company building a platform for everyone who is in the fresh food business--or would like to be to enable them to do their job more effectively. Calavo will be the majority shareholder with a few key strategic minority partners. Terms were not further disclosed. FreshRealm's technology platform will allow participants such as traditional retailers, large and small enterprises, communities and food banks to plug in to an ecosystem resembling a national fresh food cooperative. FreshRealm will not sell direct to consumers but instead will serve as the engine that connects participants to a network of regional fresh food producers. By logically connecting the dots in the fresh food industry, FreshRealm is able to create business value while also greatly reducing food waste. Built into their ecosystem is a plan to gift surplus food to the people and places that need it most.