Dole First-Quarter Loss Hits $65.6 million
Westlake Village, CA
By Eric Anderson
5.3.13
A slimmer Dole Food Company has reported a loss for the first quarter, stemming in part from the sale of its former worldwide packaged foods and Asia fresh businesses to ITOCHU Corporation on April 1, 2013 for $1.685 billion.
The company reported a first quarter loss of $65.6 million compared to the previous year’s earnings of $17.2 million.
Earnings from continuing operations fell from 29 cents a share to four cents a share. Excluding divestiture-related impacts and other items, adjusted per-share earnings from continuing operations fell to 12 cents from 24 cents. Revenue decreased 3% from 1.08 to $1.05 billion.
Adjusted EBITDA decreased from $44 million to $34 million in the first quarter of 2013.
