Nov. 9, 2010, Vancouver – Village Farms International is continuing to enjoy a good year financially.
The company today announced results for the three and nine months ended Sept. 30, 2010.
• Revenues increased 17 per cent to $113.1 million (all figures US) compared to revenues of $96.9 million for the nine months ended Sept. 30, 2009.
• Earnings per share of $0.13 versus ($0.06) per share for the nine months ended Sept. 30, 2009.
• Net income after tax of $5 million versus a net loss of $2.5 million for the nine months ended Sept. 30, 2009.
• Net cash provided by operating activities of $14 million versus $2.4 million for the nine months ended Sept. 30, 2009.
• EBITDA of $14.5 million versus $3.4 million for the nine months ended Sept. 30, 2009.
“We are satisfied with the results of our third quarter as compared to last year,” said CEO Michael A. DeGiglio. “While demand has not returned to pre-recession levels, we are encouraged with our continuous growing customer demand. Yet we remain cautious due to overall economic uncertainties. We remain focused on exceeding customer requirements, developing internal growth and increasing shareholder value.”
Village Farms is a North American grower and marketer of branded, hydroponic greenhouse-grown produce. Beginning with just 10 acres of greenhouse facilities almost 20 years ago, Village Farms today operates more than 232 acres and markets an additional 160 acres of greenhouse produce.
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