This excerpt taken from the CQB 8-K filed Feb 23, 2005.
Significantly Improved Fourth Quarter Results
CINCINNATI Feb. 22, 2005 Chiquita Brands International, Inc. (NYSE: CQB) today reported fourth quarter 2004 net income of $25 million, or $0.61 per diluted share. The company reported net income of $8 million, or $0.19 per diluted share, in the same period a year ago.
We made significant progress in 2004 and achieved the best fourth quarter results in years, said Fernando Aguirre, chairman and chief executive officer. We are greatly encouraged by our year-end position, which is much stronger than a year ago as a result of our debt reduction and improved capital structure, solid operating cash flow, the depth of our leadership team and the marketing initiatives we commenced.
In addition, we have been able to return value to our shareholders in the form of a share repurchase and a quarterly dividend program, demonstrating the confidence we have in Chiquitas ability to continue generating strong cash flows, Aguirre said. We enter 2005 with optimism in our ability to deliver sustainable, profitable growth in the future.