Calavo Growers Posts Higher Q3 Profit - Quick Facts

(RTTNews) - Calavo Growers, Inc.'s (CVGW) third-quarter net income advanced to $6.4 million, or $0.43 per share, from $5.7 million, or $0.38 per share in the prior-year quarter. On average, 4 analysts polled by Thomson Reuters expected earnings per share of $0.39 for the quarter. Analysts' estimates typically exclude one-time items.

The latest results include nearly $1.1 million in pre-tax expenses associated with a contingent consideration charge on the firm's RFG purchase and its investment in FreshRealm, LLC, the company said. These charges translate to about $0.05 per share and had the impact of reducing earnings per share from $0.48 in the fiscal 2013 third quarter.

Revenues climbed 27 percent to $194.9 million, from $153.2 million in the corresponding prior-year period. Three analysts estimated revenues of $189.17 million for the quarter.