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Bevo Agro Sees Record Plant Shipments
LANGLEY - Sep 9/02 - SNS -- Bevo Agro Inc. shipped a record number of propagated agricultural plants during July and August. The total value of shipments was CDN $3.0 million, compared to sales of just $1.4 million during the July to September quarter of the 2001-02 fiscal year.
Due to a shift in customer planting dates, some fourth quarter sales projected for the fiscal 2002 year ending June 30, were delayed. Pursuant to the company's accounting policies, revenue is recognized only when plants have been delivered to the customer. As a result, Bevo Agro's financial results for the year ended June 30, 2002, will not be as high as anticipated; however, results for the first quarter ending September 30, 2002, will be well ahead of expectations.
Bevo Agro is North America's supplies propagated agricultural plants, grows and distributes vegetable, flower, berry and other plant seedlings to North America's growers.
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