Calavo Growers Q3 Profit Rises - Quick Facts

(RTTNews) - Calavo Growers, Inc. (CVGW) reported net income of $16.0 million, or $1.02 per share for the three months ended July 31, 2014. The results for the quarter included a $12.6 million non-operating gain related to its deconsolidation of the FreshRealm, LLC subsidiary. Before giving effect to the non-operating gain, net income was $8.4 million, or $0.53 per share, for the quarter. Net income was $6.4 million, or $0.43 per share in the corresponding quarter last year.

On average, four analysts polled by Thomson Reuters expected the company to report profit per share of $0.46 for the quarter. Analysts' estimates typically exclude special items.

Revenues rose 12.2 percent to $218.7 million from $194.9 million, prior year. Analysts expected revenue of $217.94 million for the quarter.

Calavo said it remains squarely on target to post record earnings per share from operations in fiscal 2014. The company expects the revenue and profit engines of its business segments to continue performing exceptionally well.