Dole Food,a US-based producer and marketer of fruit and fresh vegetables,has posted a loss of$13.6m for the third quarter of 2012,an improvement from a loss of$47m in 2011.
The narrowing down of the loss can be attributed to a gain related to an asset sale as well as lower expenses.
Revenues declined 6.2%to$1.95bn,compared to$2.08bn in 2011,primarily due to the divesture of the company's fresh fruit subsidiaries in Spain and Germany.
Adjusted EBIDTA for the quarter increased 2.1%to$62.4m,compared to$61.1m in 2011.
Dole Food president and CEO David A DeLorenzo said that the third quarter was challenging due to factors such as tough growing conditions and foreign exchange rates.
"We are pleased that despite these events,we were able to improve performance,compared to last year,in most of our operating groups,"DeLorenzo added.
Meanwhile,the company noted that it is on track to sell its worldwide packaged foods business and Asia fresh produce business to Japanese trading house Itochu for$1.68bn and expects the deal to be completed by the end of this year.
