XML 48 R8.htm IDEA: XBRL DOCUMENT v2.4.0.6
Consolidated Statements of Cash Flows (USD $)
12 Months Ended
Oct. 31, 2012
Oct. 31, 2011
Oct. 31, 2010
Cash Flows from Operating Activities:      
Net income $ 16,947,000 $ 10,955,000 $ 17,640,000
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 5,909,000 4,327,000 3,368,000
Provision for losses on accounts receivable 68,000 64,000 38,000
Income from unconsolidated entities (501,000) (557,000) (749,000)
Interest on contingent consideration 128,000 101,000 62,000
Revalue adjustment on contingent consideration 420,000 (535,000)  
Stock compensation expense 417,000 188,000 52,000
Loss on disposal of property, plant and equipment 136,000 139,000  
Gain on sale of Maui Fresh International (519,000)    
Goodwill impairment on Calavo Salsa Lisa 87,000    
Deferred income taxes (818,000) 1,907,000 1,332,000
Effect on cash of changes in operating assets and liabilities:      
Accounts receivable (2,837,000) 4,270,000 (9,353,000)
Inventories, net (5,161,000) (2,137,000) (3,006,000)
Prepaid expenses and other current assets (639,000) 1,936,000 (2,544,000)
Advances to suppliers 980,000 (1,751,000) 1,025,000
Income taxes receivable 462,000 (1,933,000) 765,000
Other assets 14,000 (12,000) (25,000)
Payable to growers 3,394,000 (4,902,000) 8,645,000
Trade accounts payable and accrued expenses 3,236,000 (4,194,000) 2,729,000
Net cash provided by operating activities 21,723,000 7,866,000 19,979,000
Cash Flows from Investing Activities:      
Acquisitions of property, plant, and equipment (7,749,000) (4,826,000) (4,767,000)
Loan to Agricola Belher   (3,000,000)  
Distribution from unconsolidated entity 288,000 281,000 116,000
Proceeds from sale of Maui Fresh International 300,000    
Acquisition of Renaissance Food Group, net of cash acquired   (13,362,000)  
Acquisition of Hawaiian Sweet and Pride, net of cash acquired     (4,500,000)
Acquisition of Calavo Salsa Lisa, net of cash acquired     (351,000)
Net cash used in investing activities (7,161,000) (20,907,000) (9,502,000)
Cash Flows from Financing Activities:      
Payment of dividend to shareholders (8,123,000) (8,100,000) (7,252,000)
Proceeds from revolving credit facility, net 2,310,000 9,710,000 1,580,000
Proceeds from issuance of long-term obligations   22,135,000  
Payments on long-term obligations (5,237,000) (9,871,000) (6,766,000)
Proceeds from stock option exercises 791,000 213,000 1,889,000
Tax benefit of stock option exercises 26,000 664,000 261,000
Net cash provided by (used in) financing activities (10,233,000) 14,751,000 (10,288,000)
Net increase in cash and cash equivalents 4,329,000 1,710,000 189,000
Cash and cash equivalents, beginning of year 2,774,000 1,064,000 875,000
Cash and cash equivalents, end of year 7,103,000 2,774,000 1,064,000
Cash paid during the year for:      
Interest 1,146,000 985,000 850,000
Income taxes 9,274,000 6,313,000 8,845,000
Noncash Investing and Financing Activities:      
Tax receivable increase related to stock option exercise 139,000 26,000 664,000
Declared dividends payable 9,612,000 8,131,000 8,092,000
Notes receivable issued for sale of Maui Fresh International 2,204,000    
Construction in progress included in trade accounts payable and accrued expenses 28,000 36,000 32,000
Collection for Agricola Belher Infrastructure Advance   1,225,000 1,781,000
Unrealized holding gains (losses) 8,850,000 (4,996,000) 10,786,000
Business Acquisition Estimated Fair Values Disclosure      
Noncontrolling interest $ (357,000) $ (462,000) $ (575,000)