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CHIQUITA ANNOUNCES EARNINGS FOR 1991

 CHIQUITA ANNOUNCES EARNINGS FOR 1991
 CINCINNATI, Feb. 27 /PRNewswire/ -- Chiquita Brands International


(NYSE: CQB) today reported record 1991 earnings in line with prior company forecasts and Wall Street estimates.
 Fully diluted earnings per share for the year increased to $2.52 compared to $2.20 for 1990. Net income increased to $128 million for 1991 compared to $94 million in 1990 on a rise in net sales to $4.6 billion from $4.3 billion in the prior year.
 Keith E. Lindner, president and chief operating officer, indicated that the 1991 earnings improvement was due principally to higher fresh food earnings in the first half of the year. He stated: "This marks our eighth consecutive year of earnings per share growth and the fifth year in which Chiquita exceeded its long-term objective of 15 percent compounded growth measured against base 1986 earnings per share."
 Chiquita is a leading international marketer, processor and producer of quality fresh and prepared food products.
 SUMMARY OF CONSOLIDATED OPERATIONS
 FOR THE QUARTER AND YEAR ENDED DECEMBER 31, 1991 AND 1990
 (In thousands, except for per share amounts)
 Quarter Ended Year Ended
 December 31, December 31,
 1991 1990 1991 1990
 Net sales $1,154,729 $1,050,756 $4,627,397 $4,272,660
 Income before
 income taxes 13,161 3,554 183,395 151,618
 Income taxes (3,900) (1,200) (54,900) (57,700)
 Net income 9,261 2,354 128,495 93,918
 Earnings per share:
 Primary $.18 $.05 $2.55 $2.23
 Fully diluted $.18 $.05 $2.52 $2.20
 Quarterly results are subject to significant seasonal variations and are not necessarily indicative of the results of operations for a full fiscal year.
 -0- 2/27/92
 /CONTACT: Sandra W. Heimann of Chiquita Brands International, 513-784-8011/
 (CQB) CO: Chiquita Brands International, Inc. ST: Ohio IN: FOD SU: ERN


DM -- CL001 -- 3093 02/27/92 09:02 EST
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Publication:PR Newswire
Date:Feb 27, 1992
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