Fresh Del Monte reports net loss of $400M in Q4

Fresh Del Monte Produce said today it had a net loss of $400 million the fourth quarter, worse than the net loss of $143.9 million in the fourth quaerter a year earlier. That translated to a loss of $0.01 per share in the quarter, an improvement over a loss of $2.56 per share a year earlier.

Adjusted for spefcial items and changes, the fruit company said it made $11.2 million in the quarter, compared to $16.3 million a year earlier. That was $0.20 per share in the qurter, a drop from $0.29 per share a year earlier.

Net income fo rall of 2014 was $142.4 million, compared with a net loss of $34.4 million in 2013. Excluding special items, the 2014 net was $154.1 million in 2014, well up from $88.8 million in 2013.

Revenue in the fourth quarter of 2014 increased to $929.3 million, from $879.9 million in the prior year's fourth quarter. The increase was due to higher prices and more volume in banana sales, and higher prices it was able to charge in its other fresh produce business.

Full-yeare reveneu was $3.93 billion, up from $3.68 billion for 2013.