UPDATE: Fresh Del Monte Posts Q4 Loss

Fresh Del Monte Produce Inc FDP posted a loss in the fourth quarter. Fresh Del Monte posted a quarterly loss of $10.1 million, or $0.17 per share, versus a year-ago loss of $9.6 million, or $0.16 per share. Excluding special items, Fresh Del Monte posted a loss of $0.15 per share. However, analysts were expecting a profit of $0.15 per share. Its sales dropped 4.4% to $780.8 million, versus analysts' estimates of $837 million. Fresh Del Monte's gross margin declined to 4% from 4.85%. Fresh Del Monte shares closed at $24.98 yesterday.