Dole Food Shows Profit, Reversing Year-Earlier Loss

Dole Food Co., the giant Westlake Village-based food and real estate concern, reported a $1.2-million fourth-quarter profit, reversing a $20.1 million year-earlier loss that resulted from charges associated with the company’s cost-reduction program.

Dole’s revenue in the quarter that ended Dec. 31 was $954.5 million, up 20% from $794.6 million in revenue in the final quarter of 1993.

David Murdock, Dole’s chairman, said the company’s results in the recent quarter were hurt by continued weakness in the Pacific Rim banana market, but its fresh vegetable and processed pineapple operations improved.

For all of 1994, Dole reported that its net income fell 13%, to $67.9 million from $77.9 million in the previous year. Its annual revenue rose 12%, to $3.84 billion from $3.43 billion.