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CQB > SEC Filings for CQB > Form 8-K/A on 18-Mar-2013All Recent SEC Filings

Show all filings for CHIQUITA BRANDS INTERNATIONAL INC | Request a Trial to NEW EDGAR Online Pro

Form 8-K/A for CHIQUITA BRANDS INTERNATIONAL INC


18-Mar-2013

Results of Operations and Financial Condition


Item 2.02 Results of Operations and Financial Condition

On March 18, 2013, Chiquita Brands International, Inc. filed its Annual Report on Form 10-K for the year ended December 31, 2012, which reflects a final adjustment to its valuation allowance on its deferred tax assets in the fourth quarter of 2012.

In its March 11, 2013 press release, the Company reported fourth quarter 2012 unaudited net loss of $335 million (diluted loss per share of $7.24) and full year 2012 unaudited net loss of $408 million (diluted loss per share of $8.85). The reported loss for the fourth quarter and full year 2012 included, among other significant non-cash charges as disclosed in our March 11, 2013 press release, a $130 million non-cash charge to income tax expense to establish a valuation allowance against all of its U.S. federal and state deferred tax assets.

The Company recorded an additional adjustment to reduce a valuation allowance on its foreign deferred tax assets by approximately $2.8 million. As a result, the Company reported a net loss of $405 million (diluted loss per share of $8.79) on its Form 10-K as filed, for the twelve months ended December 31, 2012.

Pursuant to the rules and regulations of the Securities and Exchange Commission, the information set forth herein is furnished to the Commission and shall not be deemed to be "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. The information in this Current Report shall not be incorporated by reference into any registration statement pursuant to the Securities Act of 1933, as amended.


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