USA: Dole Food Company Inc. announces improved third quarter 2001 results from ongoing operations
Dole Food Company Inc. (NYSE:DOL) Tuesday announced that its net loss for the third quarter of 2001 was $94.8 million or $1.68 per share as compared to a net loss of $7.4 million or 13 cents per share for the third quarter of 2000. The net loss for the third quarter of 2001 included $104.8 million of non-recurring pre-tax expense (included in cost of products sold) primarily related to asset write-downs and severance resulting from previously announced business reconfiguration programs initiated during the quarter. The net loss for the third quarter of 2000 included Hurricane Mitch insurance proceeds and a gain on sale of the company's California and Arizona citrus assets offset by a business downsizing charge.
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