Calavo Growers Q3 Profit Surges - Quick Facts

(RTTNews) - Calavo Growers, Inc. (CVGW) posted third-quarter net income attributable to the company surged to $8.6 million or $0.50 per share, from $1.6 million or $0.09 per share in the prior year.

On average, 4 analysts polled by Thomson Reuters expected the company to earn $0.60 per share. Analysts' estimates typically exclude special items.

Net sales for the latest third quarter rose to $232.45 million from $218.70 million in the comparable quarter last year, while three analysts had a consensus revenue estimate of $261.74 million for the quarter.

CEO Cole stated: "Calavo enters the final quarter of fiscal 2015 in a strong position—operationally and financially—which we view as a good indicator for our company's direction in fiscal 2016, as well.

"I am gratified by Calavo's excellent performance to date in fiscal 2015 and am highly optimistic about the balance of this year and fiscal 2016. The Calavo platform—with its breadth and depth of operational and financial resources—has never been stronger. We are on path to report record revenues and earnings per share for the current fiscal year," Cole concluded.