Calavo Growers (CVGW) has been added to the Hawaii Agriculture Blog “Hawaii Agriculture and Related Stocks Annual Charts” page to show the contrast of their lack of success in marketing fresh pineapple in California with the success of their stock performance.
Calavo Chairman, President and CEO Lee E. Cole on the favorable implications of the sales marketing and distribution agreement of Maui Gold Pineapple for Calavo
“First, we anticipate that sales of Maui Gold fresh pineapples will contribute $25-30 million in revenues to Calavo’s top line in fiscal 2008, as well as become immediately accretive to earnings.”
As opposed to Maui Land and Pineapple Company’s Inc (MLP) filed Quarterly Report (10-Q) for the period ended 2009-06-30.
Revenues for the Agriculture segment decreased by 14%, or $749,000, from $5.3 million for the second quarter of 2008 to $4.5 million for the second quarter of 2009, primarily due to a reduction in pineapple juice sales volume and lower average prices for fresh pineapple. Pineapple juice sales represented approximately 5% of the Agriculture segment revenues in the second quarter of 2009 compared to approximately 13% of Agriculture segment revenues in the second quarter of 2008. The Agriculture segment reported an operating loss of $5.0 million for the second quarter of 2009 compared to an operating loss of $4.6 million for the second quarter of 2008. The operating loss for the second quarter of 2009 includes a charge of $1.9 million representing an adjustment to the fair value less selling costs of our property in Kahului that includes our fresh fruit processing plant. The Kahului property is currently held for sale.
