Dole reported second-quarter 2010 income from continuing operations of $33m as compared with $21m in 2009, and Adjusted Ebitda of $113m compared to $143m in the second quarter of 2009.
Earnings per share from continuing operations for the second quarter were $0.38 per share. Adjusting for unrealised gains and losses from hedging activities, currency movement on foreign denominated instruments, as well as gains on asset sales, comparable earnings per share from continuing operations were $0.49.
David A DeLorenzo, Dole’s president and CEO, said: “We’re pleased to announce another strong quarter despite a challenging economic climate. Our packaged salads business realised higher volumes and pricing, as well as lower costs. Our packaged foods portfolio also performed well, with improved earnings, even with Easter sales falling in the first quarter of the year.
“Consumers continued to embrace our new product offerings, with the rollout of our Fruit Crisps and Real Fruit Bites exceeding distribution goals. Our fresh fruit operations improved over the first quarter, but continued to be negatively impacted by weak market conditions in Europe and Asia. We also reduced net debt by $51m in the second quarter.”
Read the full Dole Food Company financial statement here.
Source: Dole Food Company
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