SANTA PAULA, Calif. (AP) Avocado and guacamole seller Calavo Growers Inc. said Monday that its fiscal first-quarter profit rose 16 percent on a 29 percent increase in revenue. The company also said that it expects its 2012 earnings to increase but didn’t say how much on rising fruit production in Mexico. The company said it will invest in its operations to handle the influx of new produce this year.
Calavo Growers imports and distributes avocados and processes them into pre-made guacamole products. The company also sells other fresh produce like tomatoes, papayas, and pineapples.
The company said its net income rose to of $2.7 million, or 18 cents per share, in the three months ended Jan. 31 from $2.3 million, or 16 cents per share, a year earlier. Revenue rose 29 percent to $117.4 million from $91.3 million a year ago.









