Village Farms International, Inc. reported consolidated earnings results for the fourth quarter and year ended December 31, 2015. For the quarter, the company reported sales of $35,121,000 against $34,766,000 a year ago. Income from operations was $2,600,000 against $1,592,000 a year ago. Income before income taxes was $1,706,000 against $98,000 a year ago. Net income was $2,486,000 or $0.06 per share basic and diluted against $2,320,000 or $0.06 per share basic and diluted a year ago. Net cash provided by operating activities was $1,857,000 against $3,296,000 a year ago. Purchases of property, plant and equipment was $538,000 against $1,491,000 a year ago.

For the year, the company reported sales of $141,934,000 against $136,615,000 a year ago. Income from operations was $3,632,000 against $379,000 a year ago. Income before income taxes was $933,000 against loss before income taxes of $3,369,000 a year ago. Net income was $2,094,000 or $0.05 per share basic and diluted against $107,000 or $0.00 per share basic and diluted a year ago. Net cash provided by operating activities was $7,355,000 against $5,095,000 a year ago. Purchases of property, plant and equipment was $2,075,000 against $8,791,000 a year ago. EBITDA increased 18% to $10.2 million in 2015 compared to $8.7 million in 2014. Net debt at year-end stood at $44 million.

The company is estimating a 15% year-on-year growth in both the revenues and EBITDA for 2016.