Chiquita Income rises $25 million for Q2


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Thu. August 8th, 2013 - by Eric Anderson

<p>Chiquita has reported a big boost in profits as sales dwindled slightly for the second quarter 2013.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">Net income rose from $6 million to $31 million while operating income increased from $18 million to $41 million.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">EBITDA was up as well; from $40 million to $58 million. Comparable operating income also grew; from $25 million to $42 million.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">"We continue to execute against our 'focus on the core' strategy that, in the second quarter, resulted in strong operating performance," said Ed Lonergan, President and Chief Executive Officer. </p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><p>Banana sales fell 2.5 percent, to $519 million overall. The company said it was hurt by weak banana sales in Europe, which declined 8.6 percent, to 9.2 million 40-lb boxes. North American banana sales jumped 11.1 percent, to 18.5 million boxes, but the company cut banana prices 2.9 percent in order to help achieve the figure.</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href=" http://www.chiquita.com/Home.aspx " target="_new">Chiquita </a></p><hr class="legacyRuler"><hr class="invisible minimal-padding"><hr class="invisible minimal-padding">