Chiquita Manages 2Q Profit

NEW YORK - Aug 2/07 - SNS -- Chiquita Brands International, Inc. reported net income of U.S. $8.6 million on sales of $1,255.4 million for fir the second quarter ending June 30, compared to a net of $22.9 million on sales of $1,228.6 million during the same three-month period last year.

This lifted net income so far this year to $5.2 million on sales of $2,447.8 million, compared to a net of $42.4 million on sales of $2,382.3 million the first half of the previous fiscal year.

    Chiquita repaid more than $200 million of debt during the second quarter, primarily from proceeds from the sale of its 12 refrigerated cargo vessels.  As a result, the company's total debt at June 30, 2007, was $857 million, compared to $1.061 billion at March 31, 2007.  The company expects to continue paying down debt until it reaches its target debt-to-capital ratio of 40%, compared to 49% at June 30, 2007.

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