Fresh Del Monte Produce FDP today reported financial results for the quarter ended April 1, 2011. The Company reported earnings per diluted share of $0.93 in the first quarter of 2011, compared with earnings per diluted share of $0.57 in the first quarter of 2010. Excluding asset impairment and other charges, the Company reported earnings per diluted share of $0.96 for the first quarter of 2011 compared with earnings per diluted share of $0.61 in the first quarter of 2010. Asset impairment and other charges for the quarter totaled $1.9 million, or $0.03 per diluted share, primarily the result of termination costs associated with the Company's previously announced decision to close under-performing banana plantations in the Philippines. Asset impairment and other charges, including other charges above gross profit, totaled $2.0 million, or $0.04 per diluted share, for the first quarter of 2010.
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