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News After the Bell: Chiquita, Landec
Wednesday, March 31, 10:29 AM ET

Chiquita Brands (CQB) said last night after the bell that weak demand for bananas in Europe will pull down its first quarter results.

Banana volume in Europe is down 13 percent, in conjunction with 11 percent lower pricing, compared to last year.

The company also announced a European fruit beverages joint venture with Danone yesterday, on a product called “Just Fruit in a Bottle.”

Agricultural and food packaging company Landec (NASDAQ:LNDC) posted 13 percent higher fiscal third quarter profits yesterday, of $1.7 million, or 7 cents per share, as compared to $1.5 million, or 6 cents per share, in the same quarter last year.

Revenue rose 8 percent to $58.1 million, driven by the fresh-cut veggies division.

For MarketNewsVideo.com, I'm Sayoko Murase.

News After the Bell: Chiquita, Landec  picture
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