CQB » Topics » Net sales

This excerpt taken from the CQB 10-Q filed May 5, 2009.

Net Sales

Net sales for the first quarter of 2009 were $842 million, down 10% from the first quarter of 2008, due to lower euro exchange rates, which principally affect European banana sales, as well as a reduction of foodservice and retail volumes in North American salad operations as a result of the discontinuation of products and contracts that were not sufficiently profitable.

 

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This excerpt taken from the CQB 10-Q filed Nov 3, 2008.

Net Sales

Net sales for the third quarter of 2008 were $840 million, up 7% from the third quarter of 2007. Overall, results were consistent with the year-ago period. Net sales for the nine months ended September 30, 2008 were $2.8 billion, up 6% from the year-ago period. The increases were primarily due to higher banana pricing and favorable average foreign exchange rates, partially offset by continued lower banana volumes reflecting constraints on availability.

This excerpt taken from the CQB 10-Q filed Aug 6, 2008.

Net Sales

Net sales from continuing operations for the second quarter of 2008 were $1.0 billion, up 6% from the second quarter of 2007. Net sales from continuing operations for the six months ended June 30, 2008 were $1.9 billion, up 5% from the year-ago period. The increases were primarily due to higher banana pricing and favorable foreign exchange rates, partially offset by continued lower banana volumes reflecting constraints on availability.

Net sales from discontinued operations were $395 million and $321 million in the second quarters of 2008 and 2007, respectively. Net sales from discontinued operations were $730 million and $609 million for the six months ended June 30, 2008 and 2007, respectively. The increases were primarily due to favorable foreign exchange rates. Summarized financial information of discontinued operations for the quarters and six months ended June 30, 2008 and 2008 can be found in Note 2 to the Condensed Consolidated Financial Statements.

This excerpt taken from the CQB 10-Q filed May 2, 2008.

Net sales

Net sales for the first quarter of 2008 were $1.3 billion, up 6.5% from the first quarter of 2007. The increase was primarily due to higher banana pricing, higher pricing and volume in retail value-added salads and favorable foreign exchange rates, partially offset by lower banana volumes reflecting industry-wide constraints on availability in the first quarter of 2008 due to a series of adverse weather conditions throughout Central America and Ecuador.

In late April 2008, the company’s board of directors authorized management to pursue a plan to sell Atlanta’s operations. Net sales that would not be expected to continue as a part of the company’s consolidated results after Atlanta’s sale are approximately $1.2 billion, annually, of which approximately one-fourth are included in the banana segment and the rest are included in the Other Produce segment.

These excerpts taken from the CQB 10-K filed Feb 29, 2008.

Net sales

Other Produce segment net sales were flat at $1.4 billion for 2007, 2006 and 2005.

Net sales

STYLE="margin-top:6px;margin-bottom:0px; text-indent:4%">Other Produce segment net sales were flat at $1.4 billion for 2007, 2006 and 2005.

FACE="Times New Roman" SIZE="2">Operating income

2007 compared to 2006. In the Other Produce segment, which includes the
sourcing, marketing and distribution of whole fresh fruits and vegetables other than bananas, the operating loss for 2007 was $27 million, compared to an operating loss of $33 million in 2006. Other Produce segment operating results were positively
affected by:

 







  

$29 million favorable variance from a non-cash charge for goodwill impairment charge related to Atlanta AG, the company’s German distribution business,
recorded in the third quarter 2006.

This benefit was partially offset by:

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

$10 million of charges related to an earlier announced plan to exit owned and leased farm operations in Chile.

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

$8 million decline in operating results at Atlanta AG related primarily to a reduction in volume of certain non-banana products.

STYLE="font-size:6px;margin-top:0px;margin-bottom:0px"> 







  

$6 million of start-up expenses from the expansion of Just Fruit in a Bottle, a 100 percent fruit smoothie product in Europe.

STYLE="margin-top:12px;margin-bottom:0px; text-indent:4%">2006 compared to 2005. The Other Produce segment had an operating loss of $33 million in 2006, compared to operating income of $14 million in
2005. The 2006 operating results included a $29 million charge for goodwill impairment at Atlanta AG. Aside from the impairment charge, year-over-year improvements in the company’s North American Other Produce operations were more than offset
by a decline in profitability at Atlanta AG, and lower pricing and currency-related declines in the company’s Chilean operations. The decline in profitability of Atlanta AG resulted from intense price competition in its primary market of
Germany, as well as $3 million of charges late in 2006 related to rationalization of its distribution network, including the closure of one facility.

 


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This excerpt taken from the CQB 10-Q filed Nov 9, 2007.

Net sales

Net sales for the third quarter of 2007 were $1.1 billion, up 2.8% from last year’s third quarter. The increase was primarily due to higher banana pricing in core European and North American markets and favorable foreign exchange rates, partially offset by lower volumes in European trading markets.

Net sales for the nine months ended September 30, 2007 were $3.5 billion, up 2.8% from 2006. The increase resulted primarily from increased banana volume in core European and North American markets and favorable foreign exchange rates, partly offset by lower volume in European trading markets.

This excerpt taken from the CQB 10-Q filed Aug 6, 2007.

Net sales

Net sales for the second quarter of 2007 were $1.3 billion, up 2% from last year’s second quarter. The increase resulted primarily from increased banana volume in European trading markets and favorable foreign exchange rates.

Net sales for the six months ended June 30, 2007 were $2.4 billion, up 3% from 2006. The increase resulted primarily from increased banana volume in both Europe and North America and favorable foreign exchange rates, partly offset by lower local banana pricing in Europe.

This excerpt taken from the CQB 10-Q filed May 4, 2007.

Net sales

Net sales for the first quarter of 2007 were $1.2 billion, up 3% from last year’s first quarter. The increase resulted primarily from increased banana volume in both Europe and North America and favorable foreign exchange rates, partly offset by lower local banana pricing in Europe.

This excerpt taken from the CQB 10-K filed Mar 8, 2007.

Net sales

Net sales in 2006 for the company’s Fresh Cut segment were $1.1 billion, up from $539 million in 2005 due to the Fresh Express acquisition in mid-2005. Substantially all of the revenue in this segment is from Fresh Express.

This excerpt taken from the CQB 10-Q filed Nov 9, 2006.

Net sales

Net sales for the third quarter of 2006 were $1.0 billion, up 8% from $954 million in last year’s third quarter. The increase resulted primarily from increased banana volume in Europe, higher banana pricing in North America and increased sales in retail value-added salads, partly offset by lower banana pricing in Europe.

 

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Net sales for the nine months ended September 30, 2006 were $3.4 billion, up 18% from $2.9 billion in 2005. The increase resulted from the Fresh Express acquisition and higher banana pricing in North America, partly offset by lower banana pricing in Europe and unfavorable European exchange rates.

This excerpt taken from the CQB 10-Q filed Aug 4, 2006.

Net sales

Net sales for the second quarter of 2006 were $1.2 billion, up 21% from $1.0 billion in last year’s second quarter. The increase was due to the acquisition of Fresh Express and higher banana pricing in North America, partly offset by lower banana pricing in Europe and lower banana volume in both Europe and North America.

Net sales for the six months ended June 30, 2006 were $2.4 billion, up 22% from $2.0 billion in 2005. The increase resulted from the Fresh Express acquisition, partly offset by lower banana pricing and volume in Europe and unfavorable European exchange rates.

This excerpt taken from the CQB 10-Q filed May 5, 2006.

Net sales

Net sales for the first quarter of 2006 were $1.2 billion, up 24% from $932 million in last year’s first quarter. The increase was due to the acquisition of Fresh Express, partly offset by lower banana volume in Europe and North America and unfavorable European exchange rates.

This excerpt taken from the CQB 10-K filed Mar 1, 2006.

Net sales

Substantially all of the 2005 revenue in the company’s Fresh Cut segment was due to the acquisition of Fresh Express on June 28, 2005. Net sales in 2005 were $539 million, up from $10 million in 2004.

This excerpt taken from the CQB 10-Q filed Nov 7, 2005.

Net sales

 

Net sales for the third quarter of 2005 were $954 million, an increase of $292 million from last year’s third quarter. The increase resulted from the acquisition of Fresh Express and higher banana pricing in Europe.

 

Net sales for the nine months ended September 30, 2005 were $2.9 billion, compared to $2.3 billion in 2004. The increase resulted from the acquisition of Fresh Express, higher banana pricing and volume in both Europe and North America, favorable currency exchange rates and increased sales of Fresh Select products at Atlanta AG.

 

Substantially all of the 2005 revenue in the Fresh Cut segment was due to the acquisition of Fresh Express.

 

This excerpt taken from the CQB 10-Q filed Aug 5, 2005.

Net sales

 

Net sales for the second quarter of 2005 were $1.0 billion, an increase of $171 million from last year’s second quarter. The increase resulted from higher banana pricing and favorable currency exchange rates in Europe, higher volume in both Europe and North America and increased sales of Fresh Select products at Atlanta AG, the Company’s German fresh produce distributor.

 

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Net sales for the six months ended June 30, 2005 were $1.9 billion, compared to $1.6 billion in 2004. The increase resulted from higher banana pricing and volume in both Europe and North America, favorable currency exchange rates and increased sales of Fresh Select products at Atlanta AG.

 

Substantially all of the 2005 revenue in the Fresh Cut segment was due to the acquisition of Fresh Express.

 

This excerpt taken from the CQB 8-K filed Jun 16, 2005.

Net sales

 

In 2004, net sales increased $56 million, or 6.0%, over 2003. In 2003, net sales increased $96 million, or 11.5% over 2002. All of the 2004 and 2003 net sales growth was from existing operations. It is estimated that food product inflation contributed approximately 1% to net sales growth in each of 2004 and 2003. Because Fresh Express uses a 52/53 week fiscal year ending on the Saturday closest to December 31, in 2003, the 53rd week contributed $16 million to the increase in net sales.

 

In 2004, net sales grew mainly due to higher sales volumes to retail customers. While retail sales continued to grow, the rate of growth in the retail packaged salad category industry-wide slowed compared to historical levels, which negatively impacted sales growth. In 2003, net sales grew because of increased sales volume to foodservice and retail customers and favorable changes in product mix towards higher value-added products. The increase in sales volume is due mainly to increased sales of tender leaf premium salad products to quick-service restaurants and retail customers. The tender leaf products for retail customers and premium salads for foodservice operators sell at a higher price per pound than products consisting mainly of iceberg lettuce.

 

This excerpt taken from the CQB 10-Q filed May 10, 2005.

Net sales

 

Net sales for the first quarter of 2005 were $932 million, an increase of $139 million from last year’s first quarter. The increase resulted from higher banana pricing and volume in both North America and Europe, favorable European exchange rates and increased other fresh produce sales.

 

This excerpt taken from the CQB 10-K filed Mar 16, 2005.

Net sales

 

Other Fresh Produce net sales increased by $319 million to $1,298 million in 2004. The acquisition of Atlanta accounted for approximately 80% of this increase. Net sales for 2003 increased by $773 million compared to 2002 primarily due to the acquisition of Atlanta in March 2003.

 

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