Greenhouse Canada

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Third-quarter results lower for Bevo Agro


May 25, 2012
By Bevo Agro

May 25, 2012, Langley, B.C. — Bevo Agro Inc. reports sales for the third
quarter ending March 31, 2012, of $2,928,350 compared to sales
of $3,346,268 during the same quarter last year.

May 25, 2012, Langley, B.C. — Bevo Agro Inc. reports sales for the third quarter ending March 31, 2012, of $2,928,350 compared to sales of $3,346,268 during the same quarter last year.
 
Sales for the nine months ending March 31, 2012, were $8,861,139, compared to sales of $9,641,370 the previous year. While the number of plant units sold increased, the price per unit declined.

The gross margin for both the three-month and nine-month periods are comparable to last year’s gross margins.

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Operating expenses for the nine months ending March 31, 2012, are slightly higher than last year, primarily due to increased depreciation and interest attributable to costs relating to the completed five-acre greenhouse expansion.

Net earnings for the three months ending March 31, 2012, totalled $190,097 compared to $287,524 for the same period last year. The nine-month results show a loss of $287,231 versus a loss of $53,177 for the nine months ending March 31, 2011.

Readers are encouraged to view the Company’s unaudited financial statements and accompanying MD&A at www.sedar.com.

ABOUT BEVO AGRO

Bevo Agro is North America’s leading supplier of propagated agricultural plants, growing and distributing vegetable, flower, berry and other plant seedlings to North America’s growers. Bevo propagates quality seedlings and plants for wholesale vegetable greenhouse growers, field growers and nursery operators from its 40 acre production facility.


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