Calavo Growers Inc, which produces and markets fresh and processed avocados and other perishable food products, reported improved results for its fiscal 2006 second quarter.
For the three months ended April 30, 2006, net income reached $2.2 million, compared with $1.5 million in the corresponding period of 2005. Net sales in the most recent quarter grew 12% to $67.4 million from $60.2 million one year earlier.
For the six months ended April 30, 2006, net sales were $118.1 million, a 10% advance from $107.9 million in the same period one year ago. Year-to-date income from operations swung nearly $3.1 million, or more than six-fold, to $2.6 million from a loss of $0.5 million in the fiscal 2005 first half. Fiscal 2006 first-half net income totaled $1.5 million, versus a net loss of $0.1 million in the comparable period a year ago.