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CHAIRMAN’S MESSAGEChairman’s MessageClinton ShickChairman of the BoardA Record-Breaking YearRemarks from 2012 Annual MeetingThere is just no other way to describe 2012,our 102 nd year of delivering the benefitsof almonds to the world, than to declare“We really Got Our Good Going.” It was anabsolutely, outstanding, record-breakingyear, and record-breaking on not just onemeasurement, but on many counts.In the midst of so much gloom and doom discussionsurrounding the condition of the general economyand the impending fiscal cliff, it has occurred to allof us that agriculture is doing very well, and it is apretty good time to be a Blue Diamond almond grower.How fortunate, and blessed we are to be growing sucha versatile and healthy food, that enjoys strong andgrowing demand around the world? And how equallyfortunate for California almond growers that theunique climate of our valleys allows us to supply 80percent of the total world almond supply?The record 2011 California crop was also an alltimerecord handle for Blue Diamond, both in poundsreceived and in pounds shipped during our fiscal year.With strong prices that escalated during the year,we reached a milestone, attaining revenues of justover ONE Billion Dollars for the year! The USDACooperator magazine listed Blue Diamond as No. 39in its list of the top 100 grower-owned cooperativesmeasuring total revenue. Record volume, coupled withrecord revenue led our company to return record net proceeds to growers, both in total pool dollars and dollars peracre on the 2011 crop. This is the second year in a row for returning record revenue per acre to Blue Diamond growers.The quality of the 2011 crop, while not a record, did equal the all time record for quality set in the 2008 crop year.While not only delivering excellent returns to our members, our company also continued its policy of sound fiscalmanagement, keeping the balance sheet strong and added just over $9 million to retained earnings. This was madepossible largely by our non-patronage Breeze and Nut-Thin business. Our permanent capital reached a milestone of$102 million, which strengthens our relationships with our bankers, and reduces the need for holding larger revolvingfunds from you and I.There is no doubt that when crops are good, and the weather cooperates during harvest, and when prices are goodand rising, that it’s any wonder why we would be in a good mood as almond growers. While strong prices have a lotto do with our feeling good about the return, I want to highlight some of the other reasons for us to feel proud of10 Almond Facts NOVEMBER | DECEMBER 2012