Chiquita clarifies Monday’s third-quarter loss statement
After plummeting 28%Monday on account of stating it will record a “significant” third-quarter loss, Chiquita Brands International, Inc. (NYSE:CQB) clarified this morning that the loss it expects in the third quarter is roughly in line with the loss incurred during the third quarter of 2007. The company noted that the third quarter is traditionally a weak quarter for the company and the banana industry.
The banana distributor and marketer also said that it expects to deliver a “much better” performance for 2008 compared with 2007.
Shares edged up 3%, or $0.45, to $17.10 ahead of the opening bell. For detailed price information and recent news stories about Chiquita Brands, click CQB.
