Fresh Del Monte endures a difficult 4Q

Fresh Del Monte Produce Inc, producer and distributor of fresh and fresh-cut fruit and vegetables, prepared fruit, and vegetables, reported financial and operating results for the fourth quarter and full-year 2005.

Net sales for the 2005 fourth quarter were $757.9 million, compared with $818.2 million in the year-ago period. For the year, net sales rose to $3.3 billion from $2.9 billion in 2004.

Gross profit for the 2005 fourth quarter totaled $40.5 million, versus $67.6 million in fourth quarter 2004. For the year, gross profit was $311.5 million, in contrast to $264.7 million in 2004.

A net loss of $3.5 million occurred in fourth quarter 2005, compared with net income of $19.1 million in fourth quarter 2004. Net income for 2005 totaled $106.6 million, versus $139.2 million in 2004.