Calavo Earnings Misses Estimate, Sales Beats

(RTTNews) - Calavo Growers Inc (CVGW) on Thursday reported fourth-quarter net loss of $208 thousand or $0.01 per share compared with a loss of $3.6 million or $0.24 per share last year.

Excluding items, adjusted earnings for the quarter were $0.38 per share.

Revenues for the quarter were $200.7 million compared with $190.7 million in the prior year.

Analysts polled by Thomson Reuters estimated earnings of $0.45 per share on revenues of $198.4 million for the quarter. Analysts' estimates typically exclude special items.

For the full year 2015, the company expects revenues and earnings per share to reach new record highs.

Calavo said it anticipates operating results to be driven by 20 percent revenue and gross-profit growth in the Renaissance Food Group LLC business segment and double-digit increases in revenue and gross profit in Calavo Foods business segment, with strength in increased domestic avocado consumption.

Calavo Growers markets and distributes avocados, prepared avocados, and other perishable foods to food distributors, produce wholesalers, supermarkets, convenience stores, and restaurants.