Fresh Del Monte Produce earned $2.26/share ($2.63 excluding charges), in 2009.  This is spectacular given worldwide economic conditions!  The CEO called it a "tough year".  He said he is "very optimistic" about the coming year.  I like the sound of that given how conservative he tends to be.  You can listen to the earnings conference call here:

http://webcastingplayer.corporate-ir.net/player/playerHOST.aspx?c=108461&EventId=2720238&StreamId=1434110&IndexId=&TIK={c9d89255-c978-4041-adcd-6f68331cfa70}&RGS=3

In this sluggish economy, Fresh Del Monte Produce continues its tradition of being a well run, very profitable, and very low-risk company.  This outstanding 2009 result coupled with the optimism of a normally reserved CEO makes me believe the company even safer to own (as well as lucrative).

Here is a link to a podcast where Scott Mushkin (Managing Director at Jeffries and Company), analyzes the company.  http://media.bloomberg.com/bb/avfile/Markets/Analyst_Calls/v8GBDp1UqAzM.mp3

- Jeff