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Information regarding our operations in different segments
6 Months Ended
Apr. 30, 2019
Segment Reporting [Abstract]  
Information regarding our operations in different segments

2.  Information regarding our operations in different segments

 

We report our operations in three different business segments: (1) Fresh products, (2) Calavo Foods, and (3) RFG.  These three business segments are presented based on how information is used by our Chief Executive Officer to measure performance and allocate resources. The Fresh products segment includes operations that involve the distribution of avocados and other fresh produce products.  The Calavo Foods segment represents operations related to the purchase, manufacturing, and distribution of prepared avocado products, including guacamole and salsa. The RFG segment represents operations related to the manufacturing and distribution of fresh-cut fruit, fresh-cut vegetables, vegetables and prepared foods.  Selling, general and administrative expenses, as well as other non-operating income/expense items, are evaluated by our Chief Executive Officer in the aggregate.  We do not allocate assets, or specifically identify them to, our operating segments. Data in the following tables is presented in thousands:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended April 30, 2019

 

Three months ended April 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Fresh

    

Calavo

    

 

 

    

 

 

    

Fresh

    

Calavo

    

 

 

    

 

 

 

 

 

products

 

Foods

 

RFG

 

Total

 

products

 

Foods

 

RFG

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Avocados

 

$

135,086

 

$

 

$

 

$

135,086

 

$

127,743

 

$

 —

 

$

 

$

127,743

 

Tomatoes

 

 

14,515

 

 

 

 

 

 

14,515

 

 

7,963

 

 

 —

 

 

 

 

7,963

 

Papayas

 

 

1,809

 

 

 

 

 

 

1,809

 

 

2,852

 

 

 —

 

 

 

 

2,852

 

Other fresh products

 

 

108

 

 

 

 

 

 

108

 

 

69

 

 

 —

 

 

 

 

69

 

Prepared avocado products

 

 

 

 

23,631

 

 

 

 

23,631

 

 

 —

 

 

25,235

 

 

 

 

25,235

 

Salsa

 

 

 

 

669

 

 

 —

 

 

669

 

 

 —

 

 

740

 

 

 —

 

 

740

 

Fresh-cut fruit & veg. and prepared foods

 

 

 —

 

 

 —

 

 

114,641

 

 

114,641

 

 

 —

 

 

 —

 

 

104,982

 

 

104,982

 

Total gross sales

 

 

151,518

 

 

24,300

 

 

114,641

 

 

290,459

 

 

138,627

 

 

25,975

 

 

104,982

 

 

269,584

 

Less sales incentives

 

 

(112)

 

 

(2,259)

 

 

(649)

 

 

(3,020)

 

 

(438)

 

 

(3,271)

 

 

(425)

 

 

(4,134)

 

Less inter-company eliminations

 

 

(471)

 

 

(732)

 

 

 —

 

 

(1,203)

 

 

(254)

 

 

(791)

 

 

 —

 

 

(1,045)

 

Net sales

 

$

150,935

 

$

21,309

 

$

113,992

 

$

286,236

 

$

137,935

 

$

21,913

 

$

104,557

 

$

264,405

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended April 30, 2019

 

Six months ended April 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Fresh

    

Calavo

    

 

 

    

 

 

    

Fresh

    

Calavo

    

 

 

    

 

 

 

 

 

products

 

Foods

 

RFG

 

Total

 

products

 

Foods

 

RFG

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Avocados

 

$

239,080

 

$

 

$

 

$

239,080

 

$

236,672

 

$

 —

 

$

 

$

236,672

 

Tomatoes

 

 

25,907

 

 

 

 

 

 

25,907

 

 

20,047

 

 

 —

 

 

 

 

20,047

 

Papayas

 

 

4,748

 

 

 

 

 

 

4,748

 

 

5,657

 

 

 —

 

 

 

 

5,657

 

Other fresh products

 

 

189

 

 

 

 

 

 

189

 

 

104

 

 

 —

 

 

 

 

104

 

Prepared avocado products

 

 

 

 

47,883

 

 

 

 

47,883

 

 

 —

 

 

47,038

 

 

 

 

47,038

 

Salsa

 

 

 

 

1,522

 

 

 —

 

 

1,522

 

 

 —

 

 

1,605

 

 

 —

 

 

1,605

 

Fresh-cut fruit & veg. and prepared foods

 

 

 —

 

 

 —

 

 

234,182

 

 

234,182

 

 

 —

 

 

 —

 

 

211,758

 

 

211,758

 

Total gross sales

 

 

269,924

 

 

49,405

 

 

234,182

 

 

553,511

 

 

262,480

 

 

48,643

 

 

211,758

 

 

522,881

 

Less sales incentives

 

 

(1,069)

 

 

(4,293)

 

 

(1,126)

 

 

(6,488)

 

 

(1,092)

 

 

(6,049)

 

 

(1,095)

 

 

(8,236)

 

Less inter-company eliminations

 

 

(1,066)

 

 

(1,689)

 

 

 —

 

 

(2,755)

 

 

(668)

 

 

(1,644)

 

 

 —

 

 

(2,312)

 

Net sales

 

$

267,789

 

$

43,423

 

$

233,056

 

$

544,268

 

$

260,720

 

$

40,950

 

$

210,663

 

$

512,333

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Fresh

    

Calavo

    

 

 

    

 

 

 

 

 

products

 

Foods

 

RFG

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended April 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales before intercompany eliminations

 

$

151,406

 

$

22,041

 

$

113,992

 

$

287,439

 

Intercompany eliminations

 

 

(471)

 

 

(732)

 

 

 —

 

 

(1,203)

 

Net sales

 

 

150,935

 

 

21,309

 

 

113,992

 

 

286,236

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales before intercompany eliminations

 

 

123,583

 

 

15,496

 

 

111,523

 

 

250,602

 

Intercompany eliminations

 

 

(414)

 

 

(507)

 

 

(282)

 

 

(1,203)

 

Cost of sales

 

 

123,169

 

 

14,989

 

 

111,241

 

 

249,399

 

Gross profit

 

$

27,766

 

$

6,320

 

$

2,751

 

$

36,837

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended April 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales before intercompany eliminations

 

$

138,189

 

$

22,704

 

$

104,557

 

$

265,450

 

Intercompany eliminations

 

 

(254)

 

 

(791)

 

 

 —

 

 

(1,045)

 

Net sales

 

 

137,935

 

 

21,913

 

 

104,557

 

 

264,405

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales before intercompany eliminations

 

 

123,052

 

 

14,840

 

 

95,589

 

 

233,481

 

Intercompany eliminations

 

 

(237)

 

 

(479)

 

 

(329)

 

 

(1,045)

 

Cost of sales

 

 

122,815

 

 

14,361

 

 

95,260

 

 

232,436

 

Gross profit

 

$

15,120

 

$

7,552

 

$

9,297

 

$

31,969

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

    

Fresh

    

Calavo

    

 

 

    

 

 

 

 

 

products

 

Foods

 

RFG

 

Total

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended April 30, 2019

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales before intercompany eliminations

 

$

268,855

 

$

45,112

 

$

233,056

 

$

547,023

 

Intercompany eliminations

 

 

(1,066)

 

 

(1,689)

 

 

 —

 

 

(2,755)

 

Net sales

 

 

267,789

 

 

43,423

 

 

233,056

 

 

544,268

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales before intercompany eliminations

 

 

220,174

 

 

31,823

 

 

227,352

 

 

479,349

 

Intercompany eliminations

 

 

(941)

 

 

(1,152)

 

 

(662)

 

 

(2,755)

 

Cost of sales

 

 

219,233

 

 

30,671

 

 

226,690

 

 

476,594

 

Gross profit

 

$

48,556

 

$

12,752

 

$

6,366

 

$

67,674

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended April 30, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

Net sales before intercompany eliminations

 

$

261,388

 

$

42,594

 

$

210,663

 

$

514,645

 

Intercompany eliminations

 

 

(668)

 

 

(1,644)

 

 

 —

 

 

(2,312)

 

Net sales

 

 

260,720

 

 

40,950

 

 

210,663

 

 

512,333

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cost of sales before intercompany eliminations

 

 

231,955

 

 

28,461

 

 

195,950

 

 

456,366

 

Intercompany eliminations

 

 

(612)

 

 

(1,038)

 

 

(662)

 

 

(2,312)

 

Cost of sales

 

 

231,343

 

 

27,423

 

 

195,288

 

 

454,054

 

Gross profit

 

$

29,377

 

$

13,527

 

$

15,375

 

$

58,279

 

 

For the three months ended April 30, 2019 and 2018, inter-segment sales and cost of sales of $0.4 million and $0.2 million between Fresh products and RFG were eliminated.  For the six months ended April 30, 2019 and 2018, inter-segment sales and cost of sales of $0.9 million and $0.6 million between Fresh products and RFG were eliminated.  For the three months ended April 30, 2019 and 2018, inter-segment sales and cost of sales of $0.7 million and $0.8 million between Calavo Foods and RFG were eliminated.  For the six months ended April 30, 2019 and 2018, inter-segment sales and cost of sales of $1.7 million and $1.6 million between Calavo Foods and RFG were eliminated.  For the three months ended April 30, 2019 and 2018, inter-segment sales and cost of sales of $0.1 million between Fresh products and Calavo Foods were eliminated. For the six months ended April 30, 2019 and 2018, inter-segment sales and cost of sales of $0.2 million and $0.1 million between Fresh products and Calavo Foods were eliminated.

 

Sales to customers outside the U.S. were approximately $10.1 million, and $10.7 million for the three months ended April 30, 2019 and 2018. Sales to customers outside the U.S. were approximately $19.2 million, and $18.2 million for the six months ended April 30, 2019 and 2018.

 

Long-lived assets attributed to geographic areas as of April 30, 2019 and October 31, 2018, are as follows (in thousands):

 

 

 

 

 

 

 

 

 

 

 

 

    

United States

    

Mexico

    

Consolidated

April 30, 2019

 

$

93,340

 

$

32,356

 

$

125,696

October 31, 2018

 

$

88,600

 

$

33,543

 

$

122,143