Dole Food Companies Releases Second Quarter 2012 Financial and Operating Results


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Fri. July 20th, 2012 - by Amanda Scales

<p><strong>Westlake Village, CA</strong><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Dole Food Company has announced the financial and operating results of its second quarter ended June 16, 2012. Dole reported a second quarter of 2012 Adjusted EBITDA of $132 million compared to $161 million in the second quarter of 2011. GAAP income from continuing operations for the second quarter of 2012 was $66 million compared to $83 million in the second quarter of 2011.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">David A. DeLorenzo, Dole’s President and CEO, states, “We are pleased that our second quarter Adjusted EBITDA was in line with expectations. As anticipated, banana earnings wer weaker primarily due to lower pricing in North America. The positive steps we have takent o restructure our European operaitons have partially offset the impacts of weaker currencies in Europe. Fresh vegetables Adjusted EBITDA was higher compared to last year, with incremental earnigns from last year’s berry acquisition and continuing improvement in our packaged salads business. Earnings in our packaged foods segment were lower than last year, as expected due to the launch of our national advertising campaign to support our new Fruit Smoothie Shakers and Frozen Fruit Single-serve cups.”</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.dole.com/" target="_new"> Dole Food Company</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">