Net sales totaled $1.1 billion, gross profit increased 42% from last year's third quarter, and we generated earnings per share on an adjusted basis of $0.35 per share, up from a loss per share of $0.14 a year ago.
For the third quarter of 2019, adjusted net income per diluted share was $0.35, compared with an adjusted loss per diluted share of $0.14 in 2018.
Adjusted gross profit increased 42% to $75 million in the third quarter of 2019, compared with $53 million in 2018.
Adjusted operating income for the quarter increased to $25 million, compared with $3 million in the prior year.
And adjusted net income was $17 million, compared with an adjusted net loss of $7 million in the third quarter of 2018.
In our fresh and value-added business segment for the third quarter of 2018, net sales were $653 million, compared with $640 million in the prior year period.
Gross profit increased 27% to $54 million, compared with $42 million in the third quarter of 2018, primarily due to higher gross profit in our fresh-cut, pineapple and vegetable product lines.
Our gross profit margin for the segment improved by 1.6 percentage point, maintaining the growth trend of the first half of 2019.
In our pineapple category, net sales decreased to $102 million, compared to $112 million in the prior year period.
Overall volume was 20% lower, unit pricing was 14% higher and unit cost was 7% higher than the prior year period.
In our fresh-cut fruit category, net sales were $145 million, compared with $132 million in the prior year period, primarily due to higher sales volume and higher selling prices in North America.
Overall volume was 10% higher, unit pricing was 1% higher and unit cost was 2% lower than the third quarter of 2018.
In our fresh-cut vegetable category, net sales increased to $124 million, compared with $123 million in the third quarter of 2018.
Volume was 9% lower, unit pricing was 11% higher and unit cost was 9% higher than the prior year period.
In our avocado category, net sales increased to $98 million, compared with $85 million in the third quarter of 2018, supported by higher selling prices as a result of tight industry supply.
Volume decreased 8%, pricing was 26% higher and unit cost was 28% higher than the prior year period.
In our fresh vegetable category, net sales increased to $46 million, compared with $40 million in the third quarter of 2018, due to higher sales volume and increased selling prices.
Volume increased 9%, unit price increased 6% and unit cost was 1% lower.
Net sales decreased to $32 million, compared with $42 million in the third quarter of 2018, primarily due to planned rationalization of low-margin products in this category beginning in 2018.
Volume decreased 22%, unit pricing was in line with the prior year period and unit cost was 2% lower.
In our banana business segment, net sales were $386 million, compared with $397 million in the third quarter of 2018, primarily due to lower net sales in North America and Asia, partially offset by higher sales in the Middle East and Europe.
Overall volume was 7% lower than last year's third quarter, worldwide price increased 4% over the prior year period and total worldwide banana unit cost was 3% higher than the prior year period and gross profit increased to $17 million, compared with $10 million in the third quarter of 2018, reflecting a 1.7 percentage point increase in gross profit margin.
Regarding foreign currency, our foreign currency was impacted at the sales level for the third quarter with an unfavorable impact of $7 million, and at the gross profit level the impact was unfavorable by $2 million.
Interest expense, net for the third quarter was $6 million compared with $7 million in the third quarter of 2018, due to lower debt and volume.
Income tax expense was $3 million during the quarter, compared with income tax expense of $1 million in the prior year, mainly due to higher taxable earnings in North America.
At the end of the quarter, our cash flow -- cash from operating activities was $130 million, compared with net cash provided by operating activities of $271 million in the same period of 2018, primarily due to lower accounts payable and accrued expenses, partially offset by higher net income.
At the end of the quarter, we were able to reduce our debt by an additional $50 million to $590 million from $640 million at the end of the second quarter of 2018.
In October 2019, we amended and restated our $1.1 billion unsecured credit agreement and extended the credit facility until October 2024, with a more favorable rate.
We also included an accordion feature that could increase the availability by, up to $300 million.
As it relates to capital spending, we invested $94 million on capital expenditures in the first nine months of 2019, compared with $119 million in the same period in 2018.
This is a 33% or $0.02 increase over the dividend paid in September 2019.

Summary:
Net sales totaled $1.1 billion, gross profit increased 42% from last year's third quarter, and we generated earnings per share on an adjusted basis of $0.35 per share, up from a loss per share of $0.14 a year ago.
For the third quarter of 2019, adjusted net income per diluted share was $0.35, compared with an adjusted loss per diluted share of $0.14 in 2018.
In October 2019, we amended and restated our $1.1 billion unsecured credit agreement and extended the credit facility until October 2024, with a more favorable rate.
This is a 33% or $0.02 increase over the dividend paid in September 2019.