More on Fresh Del Monte's Q4

|About: Fresh Del Monte Produce... (FDP)|By:, SA News Editor

Fresh Del Monte Produce (NYSE:FDP) reports Banana segment sales fell 2.3% to $421.3M in Q4.

Other fresh produce segment sales up 3.1% to $454.9M, primarily due to higher sales volume and selling prices in the Company's fresh-cut product line and higher sales volume in the Company's avocado product line.

Prepared food segment sales decreased 5.7% to $77.5M, due to lower selling prices in the Company's industrial pineapple concentrate product line.

Revenue by geography: North America: $548.6M (+4%); Europe: $164M (+6.8%); Middle East: $126.7M (-13%); Asia: $100.2M (-8.5%); Other: $14.2M (-23.2%).

Gross margin rate dropped 60 bps to 5.3%.

SG&A expense rate improved 50 bps to 4.4%.

Operating margin rate flat at 0.3%.

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