Calavo Growers Reports Q1 EPS of $0.16 vs. $0.26

Calavo Growers, Inc. CVGW today reported a solidly profitable fiscal 2011 first quarter on the strength of revenues that rose approximately 36 percent from the corresponding period last year. Net income for the three months ended Jan. 31, 2011 totaled $2.3 million, equal to $0.16 per diluted share, unchanged from the fiscal 2010 first quarter. Revenues of $91.3 million compare with $67.3 million in the one-year-earlier first quarter, advancing sharply principally as a result of higher sales of fresh avocados.