Dole Food Company has announced financial results for the second quarter 2013 highlighted by big earnings related to the divestiture of several business lines and an increase in revenue, though earnings from continuing operations weakened.
In April, Dole divested $1.69 billion in its global packaged foods and Asia fresh produce businesses which it sold to Itochu Corp.
The company reported adjusted EBITDA of $56 million down from $81 million during last year’s period. Revenue rose 10% to $1.19 billion.
Comparable income from continuing operations fell from $61 million or$.69 per share to $25 million or$0.28 per share.
Dole's board has formed a special committee to consider Dole's Chairman and Chief Executive David H. Murdock’s offer to buy out the company in a deal that values it at roughly $1.5 billion.
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Dole
Founded in Hawaii in 1851, Dole Food Company, Inc., with 2010 revenues of 6.9B, is the world's largest producer and…
