Dole's EBITDA increases 32% in fiscal 2008

by FoodBusinessNews.net Staff
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WESTLAKE VILLAGE, CALIF. — The Dole Food Co., Inc.’s earnings before interest, taxes, depreciation and amortization (EBITDA) was $409 million for fiscal year 2008, a 32% increase over fiscal 2007. Sales at the company were $7,620 million during 2008 compared with $6,821 million for the previous year.

"Dole had an outstanding year in 2008," said David A. Lorenzo, president and chief executive officer. "We made great progress in increasing earnings, cutting costs, selling non-performing and idle assets and reducing debt."

Operating income for the company was $275 million in 2008 compared with $149 million for fiscal 2007. The operating results exclude discontinued operations for flowers, citrus and pistachios.

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