Tri Valley Reports 1st-Quarter Loss

Tri Valley Growers, one of the biggest U.S. makers of canned tomatoes, reported a first-quarter loss after a bumper tomato harvest in 1997 left the market awash in product. San Ramon-based Tri Valley, a cooperative of more than 500 growers that supplies about 10% of the nation’s canned-tomato products, said it lost $13.6 million in the quarter, contrasted with a profit of $7.1 million a year earlier. Tomatoes make up about a third of the company’s business, which also includes peaches, olives, pears, grapes, cherries and apricots. Total sales fell 7%, to $211.8 million from $228.6 million. Abnormally heavy rain in California, the largest producer of processing tomatoes, is expected to reduce the size of the crop this year.