BEVO AGRO INC. REPORTS FISCAL 2010 RESULTS.

LANGLEY, BC, Oct. 14 /CNW/ - Bevo Agro Inc. (BVO: TSX-Ven.) is pleased to announce sales for the year ending June 30, 2010 totaled $19,921,973, an 11.4% increase over last years sales of $17,876,355. The $2,000,000 increase in sales results from an increase in sales of propagated products and receipt of an AgriStability payment from the Federal Government.  Sales to US clients were up by $1,753,000 and totaled $10.4 million for fiscal 2010.  In the same period, sales to Canadian clients increased to $9.2 million

The gross margin totaled $5,776,336 for the year ended June 30, 2010 compared to the gross margin last year of $5,283,767.

Operating expenses for the year totaled $4,501,905 compared to $5,020,929 last year, mainly due to lower interest costs because of lower borrowing levels and reductions in long term debt.

The increase in gross margin and lower expenses resulted in an increase in operating earnings of over $1,000,000.

Net earnings were $1,055,294 for the year ending June 30, 2010, an increase of 17% over earnings of $767,907 for the year previous.

Financial Summary

For the years ended	June 30, 2010		June 30. 2009
Sales	$19,921,973	100%	$17,876,355	100%
Cost of Sales	$14,145,637	71%	$12,592,588	70%
Gross Margin	$5,776,336	29%	$5,283,767	30%
Expenses
Operating & administrative	$998,160	5%	$1,137,136	6%
Administrative fees, wages & benefits	$1,169,354	5%	$1,059,496	6%
Amortization	$1,577,246	8%	$1,629,934	9%
Interest expenses	$589,789	3%	$1,008,850	6%
Provision for bad debts	$167,356	1%	$185,513	1%
Total expenses	$4,501,905	23%	$5,020,929	28%
Earnings (loss) from operations	$1,274,431	6%	$262,838	1%
Other	$2,759		$0
Earnings before taxes	$1,277,190		$262,838
Income taxes-future	$221,896		($505,069)
Net earnings (loss) for period	$1,055,294	5%	$767,907	4%
Earnings per share	$0.04		$0.03

Bevo Agro's trailing twelve months comparative results are summarized below

12 months Ended	June 30. '07	June 30. '08	June 30. '09	June 30. '10
Sales	$19,795,142	$19,763,458	$17,876,355	$19,921,973
Gross Margin	$6,572,922	$5,452,491	$5,283,767	$5,776,336
Net earnings (loss)	($279,606)	($735,409)	$767,907	$1,055,294

Bevo Agro is North America's leading propagator of vegetable plants including tomatoes, peppers, cucumbers as well as bedding plants, flowers and poinsettias.  In addition to being a certified organic grower, Bevo also produces cucumbers which are marketed and sold through a licensed marketing agency. Bevo's vigorous, well rooted, healthy and pest free plants are grown under stringent controlled conditions from its 34 acre production facility.

For further information:

Jack Benne, President, 
Bevo Agro Inc.
Phone: [phone]
Fax: [phone]
Email: [email protected]