SunOpta Scraps 2009 Guidance, Warns On 2008 Earnings

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Canada-based organic food producer SunOpta has decided to not issue revenue and earnings guidance for 2009 and warned that its earnings for 2008 are likely to be considerably below its previously issued guidance. This decision to scrap revenue and earnings targets for 2009 has been attributed to the rapidly changing macroeconomic conditions while the 2008 earnings downgrade has been blamed on unfavourable exchange rate movements and falling commodity prices. The value of shares in the company fell by more than 10% following the