Nov. 27, 2012, Langley, B.C. — Bevo Agro Inc. had sales of $2,082,883
for the three months ending Sept. 30, 2012. This compares to sales of
$1,700,825 for the same quarter last year.
Nov. 27, 2012, Langley, B.C. — Bevo Agro Inc. had sales of $2,082,883 for the three months ending Sept. 30, 2012. This compares to sales of $1,700,825 for the same quarter last year.
The first quarter is historically the lowest revenue producing period of the year as the company greenhouses are transitioning from flowers and bedding plants delivered in the fourth quarter to propagated vegetable plants for delivery in the second and third quarters.
The gross margin for the quarter was $320,692 compared to $253,353 the prior year with the increase a result of an increase in sales.
Expenses for the quarter ended September 30, 2012 totaled $1,095,387 compared to 1,032,798 in the same quarter the year earlier. No allowance for bad debts was necessary in the first quarter.
The net loss and comprehensive loss for the quarter was $526,795 compared to a loss of $536,905 for the same quarter in the previous year.
Readers are encouraged to view the company’s unaudited financial statements at Sept. 30, 2012, and accompanying MD&A at http://www.sedar.com.
Bevo Agro is a leading supplier of propagated agricultural plants, growing and distributing vegetable, flower, berry and other plant seedlings to North American growers. It has a 39-acre production facility.
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