Hershey Foods Corp . yesterday [Thursday] announced losses of US$45m, or 33 cents per share in the fourth quarter of last year. However, once stripped of one-time items, the results make more positive reading. Excluding these items, which include heavy investment in reducing payroll and inventory costs, Hershey would have earned US$127m, or 92 cents per share. This compares positively with the US$116m, or 84 cents per share, posted during the same period in 2000.