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Westlake Village-based Dole Food Co. said its...

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From Times Wire Services

Westlake Village-based Dole Food Co. said its second-quarter net income more than doubled, boosted by a one-time increase from the sale of its worldwide juice business.

The food producer and distributor completed the sale of its juice business to Seagram Co. during the second quarter ended June 17, which increased the company’s pretax earnings by $61.7 million.

Without the one-time gain from that sale, Dole’s net income would have risen about 25% over the year-ago quarter, as its vegetable and banana operations posted strong gains.

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Dole reported net income of $78.7 million, or $1.32 a share, compared to $35.7 million, or 60 cents a share, a year earlier. The company would have had net income of $44.7 million, or 75 cents a share, in the 1995 quarter if not for the one-time increase.

Dole’s revenue rose 17%, to $1.15 billion from $986 million in the 1994 quarter.

Dole’s real estate operations posted slightly lower income because of weaker results in Hawaii, where the company owns two resorts.

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