Calavo Growers Inc. has reported higher income and sales for the fiscal year that ended Oct. 31.
The Santa Paula, Calif.-based firm said in a Jan. 13 news release that net income for the fiscal year totaled $17.3 million, up slightly from $17.1 million from the previous fiscal year.
Calavo’s net sales for fiscal year 2013 increased $140.3 million, or 25.5% higher compared with the previous year. The company said the increase reflected gains in all business segments.
Increased sales of Mexican and California avocados led fresh product sales higher, according to the release. Tomato sales also increased, but sales decreases were noted for Chilean avocados.
Net sales from the fresh products business increased by approximately $97.8 million, or 27.9% up compared with fiscal year 2012. The release said sales of Mexican avocados increased $52.9 million, a 29.1% jump compared with the previous year. Volume of Mexican avocados sold jumped 50 million pounds, or 30% higher than the previous year, according to the release.
The sales price per carton of Mexican avocados dropped slightly, by 0.7%, in fiscal year 2013. Sales of California avocados rose $42.7 million, or 33%, for the reporting year. The increase in sales was linked to an 11.2% increase in volume, which translated to 14.3 million pounds more California avocados sold compared with the previous year. The price per carton for California avocados was also up, rising 19.6% compared with fiscal year 2012, according to the release.
Calavo’s sales of fresh tomatoes rose $11.2 million, a 98% increase compared with the previous year, mostly due to an increase in the number of cartons sold and a higher sales price per-carton, according to the release.
Sales of the firm’s Chilean avocados decreased $5.7 million, or 95.9%, according to the release. The sales decline reflects a 5.4 million pound decrease in Chilean avocados sold, according to the release.
Looking ahead, Calavo said in the release that it expects that sales volume of California avocados will decrease in fiscal 2014 because of a smaller expected crop. Sales of Mexican avocados should increase in fiscal 2014, according to the release, due to higher expected sales prices.
“We expect higher sales prices due to less expected avocado volume in the market, and expected higher demand,” according to the release. The company also anticipates that sales volume of fresh tomatoes, pineapples, and papayas will increase in fiscal 2014.
In the release, Calavo said it handled about 30% of the California avocado crop in the 2013 fiscal year. The firm also markets about 20% of the Mexican avocado crop in the U.S. market and about 5% of the avocados exported from Mexico to countries besides the U.S., according to the release.
Calavo also said that the company enjoyed increased sales from its fresh cut RFG unit, primarily led higher by higher volume sales of cut fruit and vegetable platters. Sales increased $37.4 million, or 24.2% higher than the previous year. Compared with a year ago, the RFG sales unit recorded an increase of 13.8 million units, according to the release. That translates to a gain of 24% compared with a year ago, according to the release.
Calavo Foods also found sales gains of prepared guacamole products, according to the release. That division scored sales gains of $5.2 million, or 11.2% higher compared with the previous year.