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CINCINNATI (AP) - Chiquita Brands International Inc., one of the world's largest distributors of bananas and other fresh fruits and packaged salads, said Tuesday that its first-quarter results were sharply lower than a year ago, partly because of costs related to getting out of unprofitable farm leases in Chile.
The Cincinnati-based company reported a loss of $3.4 million, or 8 cents per share, for the quarter ended March 31 compared with profit of $19.5 million, or 46 cents per share, a year earlier. Sales rose 3 percent to $1.19 billion from $1.15 billion a year ago.
Analysts surveyed by Thomson Financial expected, on average, a loss of 4 cents a share on revenue of $1.2 billion.
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