Fresh Del Monte Produce Reports Q4 EPS of $0.07 vs. $0.11

Fresh Del Monte Produce Inc. FDP earlier today reported financial results for the fourth quarter and year ended December 31, 2010. The Company reported a loss per diluted share of $0.16 in the fourth quarter of 2010 compared with earnings per diluted share of $0.44 for the fourth quarter of 2009. Excluding asset impairment and other charges (credits), net, the Company reported earnings per diluted share of $0.07 for the fourth quarter of 2010 compared with earnings per diluted share of $0.36 in the fourth quarter of 2009. Asset impairment and other charges (credits), net for the quarter, totaled $13.6 million, or $0.23 per diluted share, primarily associated with a write-off of certain isolated under-performing banana plantations in the Philippines. Asset impairment and other charges (credits), net, totaled a credit of $5.4 million, or $0.08 per diluted share, for the fourth quarter of 2009.